Overview and Scope
Oil and gas pipeline and related structures construction refer to the building of oil and gas pipelines, mains, refineries, and storage facilities businesses. It mainly consists of new development, renovation, repair, and rehabilitation of oil and gas pipelines.
Sizing and Forecast
The oil and gas pipeline and related structures construction market size has grown steadily in recent years. It will grow from $245.94 billion in 2023 to $253.51 billion in 2024 at a compound annual growth rate (CAGR) of 3.1%. The growth in the historic period can be attributed to growing energy demand, infrastructure development projects, expanding oil and gas exploration, economic growth and industrialization, government initiatives and policies..
The oil and gas pipeline and related structures construction market size is expected to see steady growth in the next few years. It will grow to $290.51 billion in 2028 at a compound annual growth rate (CAGR) of 3.5%. The growth in the forecast period can be attributed to continued energy demand growth, renewable energy integration, modernization and replacement projects, geopolitical factors, focus on diversification of energy sources.. Major trends in the forecast period include geopolitical stability and risks, resilient supply chain management, emphasis on safety in construction practices, investment in lng infrastructure, digital transformation in project management and execution..
To access more details regarding this report, visit the link:
https://www.thebusinessresearchcompany.com/report/oil-and-gas-pipeline-and-related-structures-construction-global-market-report
Segmentation & Regional Insights
The oil and gas pipeline and related structures construction market covered in this report is segmented –
1) By Type: Crude Oil Pipeline, Natural Gas Pipeline
2) By Sector: Upstream, Midstream, Downstream
3) By Application: Onshore, Offshore
North America was the largest region in the oil and gas pipeline and related structures construction market in 2023. The regions covered in the oil and gas pipeline and related structures construction market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Intrigued to explore the contents? Secure your hands-on sample copy of the report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=9736&type=smp
Major Driver Impacting Market Growth
Increasing demand for natural gas is expected to propel the growth of the oil and gas pipeline and related structures construction market going forward. Natural gas refers to the energy source, that is entirely made up of the gas methane however it also contains trace amounts of ethane, propane, butane, and pentane. The increasing natural gas increases the demand for gas transmission pipelines, which transport and deliver natural gas generated safely. For instance, in February 2023, the Energy Information Administration (EIA), a US-based, government administration, statistical and analytical agency, the US natural gas consumption reached 88.5 Bcf/d (billion cubic feet per day) in 2022, a 5.4% high, compared to 84.0 Bcf/d in 2021, however, the total imports of natural gas reached 8.3 Bcf/d in 2022, from 7.7 Bcf/d in 2021. Therefore, the increasing demand for natural gas is driving the growth of the oil and gas pipeline and related structures construction market.
Key Industry Players
Major companies operating in the oil and gas pipeline and related structures construction market are focused on innovating solutions such as electro-hydraulic actuators to revolutionize pipeline operations. An Electro-Hydraulic Actuator is a device that converts electrical energy into mechanical motion through the use of hydraulic pressure. For instance, in August 2023, Automation Technology, Inc., a US-based provider of customized and comprehensive valve automation solutions, launched a Zero Emission Electro-Hydraulic actuator solution, aiming to eliminate the carbon footprint associated with pipeline operations. This innovative package offers a comprehensive solution to reduce emissions without relying on pipeline gas as the actuator’s primary power source, unlike traditional methods that emit gas into the atmosphere. The self-contained Zero Emission Electro-Hydraulic solution, available in spring-return or double-acting configurations, can be directly mounted to the valve, contributing to zero methane and VOC emissions for emergency shutdown valves.
The oil and gas pipeline and related structures construction market report table of contents includes:
1. Executive Summary
.
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Overview and Scope Accounting and budgeting software refers to computer programs or applications designed to…
Overview and Scope Serum-free media is a type of cell culture media that allows cells…
Overview and Scope Population screening is a process of assessing the prevalence of a particular…
Overview and Scope Solid tumor testing refers to the diagnostic and molecular testing conducted on…
Overview and Scope A smart indoor gardening system is an automated and technologically advanced setup…
Overview and Scope Ski refers to a piece of wood or a stick with slats…