Grease the bottom and 1/2 inch up sides of two 9x5x3-inch, three 8x4x2-inch, or four 7-1/2x3 1/2-x2-inch loaf pans; set aside. In a very large mixing bowl beat sugar and oil with an electric mixer on medium speed. Add eggs and beat well; set aside.
In a large bowl combine flour, baking soda, baking powder, salt, cinnamon, and pumpkin pie spice. Add flour mixture and water alternately to sugar mixture, beating on low speed after each addition just until combined. Beat in pumpkin. Spoon batter into prepared pans.
Bake in a 350 degree F oven for 55 to 65 minutes or until a wooden toothpick inserted near centers comes out clean. Cool in pans on wire racks for 10 minutes. Remove from pans.
To make eggnog glaze, stir together powder sugar, eggnog, vanilla extract, cinnamon, and nutmeg. Combine until smooth. Drizzle or pour over warm pumpkin bread. Cool completely on wire racks. Makes 2 loaves (32 servings).