EPCs Want Better Cost Control for Large CAPEX Projects
CAPEX projects, both in terms of plant design and infrastructure have become very large, complex, time consuming, and very expensive. Both EPCs and owner-operators want engineering design tools that provide better information access across the CAPEX to OPEX lifecycle. CAPEX spending has steadied as companies and the governments that fund these projects consider the complexities and costs of new mega-projects in light of future global markets and business drivers. Risk aversion continues to be a significant element of project planning.
Beyond the project phase and into the OPEX domain of the design/build/operate/maintain lifecycle, asset owners are now seeing the additional value that design tools can yield.
Next generation 3D design applications play an integral part in the optimal design, creation, and construction of assets in plant design and infrastructure, and are now playing an increasingly important role throughout the entire lifecycle of infrastructure and plant assets.
The energy sector continues to drive many of the new projects in plants and infrastructure. Beyond the project phase, asset owners are now seeing the additional value that engineering design tools can provide during the much longer operations phase of assets in both plants and infrastructure.
The plant and infrastructure domains have different market dynamics. Users need to know the capabilities and strategies of suppliers for their particular market. Additionally, both EPCs and owner-operators need to be aware of the market and relevant technologies. This study answers key questions, such as:
- What are the key drivers for market growth and constraints?
- What new trends and technologies are driving engineering design tool solutions and market growth?