What Has Been The Historical And Current Growth Of The Oil And Gas Infrastructure Market?
The oil and gas infrastructure market has seen considerable growth due to a variety of factors.
• The market for oil and gas infrastructure has seen significant growth in the past few years. Its size is predicted to expand from $739.23 billion in 2024 to $804.06 billion in 2025, at a compound annual growth rate (CAGR) of 8.8%. The previous period of growth is due to factors such as increased energy demand, the availability of resources, the fluctuation in market prices, updating of infrastructure, and concerns about carbon emissions.
What Are The Predictions for The Oil And Gas Infrastructure Market Size?
The Oil And Gas Infrastructure market is expected to maintain its strong growth trajectory in upcoming years.
• The market for oil and gas infrastructure is poised to witness robust expansion in the forthcoming years. The market is projected to escalate to $1108.31 billion in 2029, growing at a compound annual growth rate (CAGR) of 8.4%.
The surge during the projection period can be ascribed to risk management approaches, adaptability to market fluctuations, fiscal and investment patterns, robustness in supply chain and integration of remote operations. Significant trends during the projection span will involve energy demand shifts, resource obtainability, transition towards renewable energy, market instability and geopolitical impacts.
Which Drivers Are Accelerating Growth In The Oil And Gas Infrastructure Market?
The growth of the oil and gas infrastructure market will be driven by the increasing demand for natural gas. As a colorless, odorless, and cleanest fossil fuel, natural gas consists of a single carbon atom and four hydrocarbon atoms, also known as CH4 or methane. A surge in the global demand for natural gas necessitates the increase in its production and the development of the necessary infrastructure. For example, data from the Belgium-based executive branch of the European Union, the European Commission, showed in May 2024 that the demand for natural gas rose in 2023, specifically in Finland by 25.6%, Sweden by 11.1%, Poland by 5.3%, Malta by 4.5%, Denmark by 1.1%, and Croatia by 0.8%, compared to the previous year, 2022. Hence, the oil and gas infrastructure market benefits from this escalating demand for natural gas.
What Are The Core Segments Of The Global Oil And Gas Infrastructure Market?
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
Subsegments:
1) By Surface And Lease Equipment: Wellhead Equipment, Separators And Treaters, Pumps And Compressors
2) By Gathering And Processing: Gathering Systems, Processing Facilities
3) By Oil, Gas, And NGL Pipelines: Crude Oil Pipelines, Natural Gas Pipelines, Natural Gas Liquids (NGL) Pipelines
4) By Oil And Gas Storage: Aboveground Storage Tanks (ASTs), Underground Storage (UGS), LNG Storage Tanks
5) By Refining And Oil Products Transport: Refineries, Product Pipelines, Transportation And Distribution Systems
6) By Export Terminals: Crude Oil Export Terminals, LNG Export Terminals, Product Export Terminals
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Which Emerging Trends Are Reshaping The Oil And Gas Infrastructure Market Size?
Advancements in technology are becoming a prominent trend in the oil and gas infrastructure sector. Major industry players are leveraging innovative technologies to cement their presence in the market. For example, Airbus, a U.S.-based aerospace technology company, launched satellite-based inspection services for oil and gas infrastructure in August 2022. These inspections are crucial to identify potential issues that might threaten the infrastructure's integrity before they lead to injuries, environmental damage, or equipment malfunction. With rapid developments in satellite technology, it's now feasible to obtain ultra-high resolution images. Radar images offer a resolution of 25 cm, while optical images provide up to 30 cm resolution (respectively, Pléiades Neo and TerraSAR-X). The newly released Pléiades Neo HD15 imaging product delivers an impressive 15 cm resolution. These superior resolutions enable highly detailed inspection of machinery, facilities, and pipelines, among other equipment. The choice of sensor will depend on the specific application and cloud cover levels.
Who Are the Key Players In The Oil And Gas Infrastructure Market?
Major companies operating in the oil and gas infrastructure market include:
• 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
What Are The Regional Insights Into The Oil And Gas Infrastructure Market?
Europe was the largest region in the oil and gas infrastructure market in 2024. 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.
