Market Size –
The oil and gas infrastructure market size has grown strongly in recent years. It will grow from <b>$684.96 billion in 2023 to $744.86 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. </b> The growth in the historic period can be attributed to energy demand growth, resource accessibility, market price volatility, infrastructure modernization, carbon emission concerns.
The oil and gas infrastructure market size is expected to see strong growth in the next few years. It will grow to <b>$1032.99 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. </b> The growth in the forecast period can be attributed to risk mitigation strategies, flexibility for market shifts, financial and investment trends, resilience in supply chain, remote operations integration. Major trends in the forecast period include energy demand dynamics, resource accessibility, shift to renewable energy, market volatility, geopolitical factors.
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Scope Of Oil And Gas Infrastructure Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Oil And Gas Infrastructure Market Overview
Market Drivers –
The rising demand for natural gas will propel the growth of the oil and gas infrastructure market going forward. Natural gas has no color or smell and is the cleanest fossil fuel on the planet. It is made up of one carbon atom and four hydrocarbon atoms (CH4 or methane). The growing demand for natural gas worldwide leads to producing more natural gas and the infrastructure needs to be developed. For instance, according to the U.S. Energy Information Administration, a principal agency of the U.S. Federal Statistical System, annual natural gas plant liquids (NGPLs) production reached a record high of nearly 5.40 million barrels per day in 2021. Therefore, the rising demand for natural gas drives the oil and gas infrastructure market.
Market Trends –
Technological advancements have emerged as the key trend gaining popularity in the oil and gas infrastructure market. Major companies operating in the oil and gas infrastructure market are developing innovative technologies to strengthen their position in the market. For instance, in August 2022, Airbus, a US-based company that deals in aerospace technology develops satellite-based inspection services for oil and gas infrastructure. Inspection of oil and gas infrastructure is required to find problems that could compromise infrastructure integrity before injury or damage is done to the environment, its inhabitants, or its equipment. Satellite technology is advancing quickly, and now it is possible to view photographs at extremely high resolutions. Radar pictures have a resolution of 25 cm and optical images up to 30 cm, respectively (Pléiades Neo) (TerraSAR-X). The Pléiades Neo HD15 imaging product, which was just released, now delivers an amazing 15 cm resolution. These extremely high resolutions enable incredibly thorough inspection of facilities, machinery, and other equipment as well as pipes. The application at hand and the amount of cloud cover will determine which sensor is best.
The oil and gas infrastructure market covered in this report is segmented –
1) By Category: Surface And Lease Equipment, Gathering And Processing, Oil, Gas And NGL Pipelines, Oil And Gas Storage, Refining And Oil Products Transport, Export Terminals
2) By Operation: Transmission, Distribution
3) By Deployment: Onshore, Offshore
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Regional Insights –
Europe was the largest region in the oil and gas infrastructure market in 2023. The regions covered in the oil and gas infrastructure market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the oil and gas infrastructure market report are NGL Energy Partners LP, Centrica PLC, Kinder Morgan Inc., Schlumberger Limited, Royal Vopak NV, Shell plc, Exxon Mobil Corporation, Baker Hughes Company, Chevron Corporation, TotalEnergies SE, ConocoPhillips Company, British Petroleum plc, Energy Transfer LP, Marathon Oil Corporation, Occidental Petroleum Corporation, Hatch Ltd., Aker Solutions ASA, Subsea 7 S.A., Saipem S.p.A., Fluor Corporation, KBR Inc., WorleyParsons Limited, Bechtel Corporation, CH2M Hill Companies Ltd., SNC-Lavalin Group Inc., Petrofac Limited, Chicago Bridge & Iron Company N.V., Shawcor Ltd., The Shaw Group Inc., Foster Wheeler AG
Table of Contents
1. Executive Summary
2. Oil And Gas Infrastructure Market Report Structure
3. Oil And Gas Infrastructure Market Trends And Strategies
4. Oil And Gas Infrastructure Market – Macro Economic Scenario
5. Oil And Gas Infrastructure Market Size And Growth
…..
27. Oil And Gas Infrastructure Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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