The Oil And Gas Pipeline And Related Structures Construction by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Oil And Gas Pipeline And Related Structures Construction, 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.
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.
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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
Technological innovation and advancement are key trends gaining popularity in the oil and gas pipeline and related structures construction market. Companies operating in the oil and gas pipeline and related structures construction market are adopting new technologies to sustain their position in the market. For instance, in January 2022, PGNiG, a Poland-based oil and gas company installed a technologically innovative gas pipeline on the Norwegian Continental Shelf based on electrically heat-traced flowline technology (EHTF). This is the longest pipeline installation that connects remote fields to existing production infrastructure at a low cost and also reduces the total carbon footprint associated with their exploitation.
The oil and gas pipeline and related structures construction market report table of contents includes:
1. Executive Summary
2. Oil And Gas Pipeline And Related Structures Construction Market Characteristics
3. Oil And Gas Pipeline And Related Structures Construction Market Trends And Strategies
4. Oil And Gas Pipeline And Related Structures Construction Market – Macro Economic Scenario
5. Global Oil And Gas Pipeline And Related Structures Construction Market Size and Growth
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26. South America Oil And Gas Pipeline And Related Structures Construction Market
27. Brazil Oil And Gas Pipeline And Related Structures Construction Market
28. Middle East Oil And Gas Pipeline And Related Structures Construction Market
29. Africa Oil And Gas Pipeline And Related Structures Construction Market
30. Oil And Gas Pipeline And Related Structures Construction Market Competitive Landscape And Company Profiles
Top Major Players:
- Larsen & Toubro Limited
- Sunland Construction Inc
- Barnard Construction Inc
- Bechtel Corporation
- Ledcor Group
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