What are the Historical Developments and Current Growth Metrics of the Oil And Gas Pipeline And Related Structures Construction Market?
The oil and gas pipeline and related structures construction market has seen considerable growth due to a variety of factors.
• In recent times, there has been a consistent growth in the market size of oil and gas pipeline and related structures construction. It is projected to increase from $261.66 billion in 2024 to $270.43 billion in 2025, experiencing a compound annual growth rate (CAGR) of 3.4% . This growth during the historical period can be attributed to factors such as the rise in energy demand, infrastructure development projects, increased oil and gas exploration, economic growth and industrialization, as well as government initiatives and policies.
What is the Forecasted Market Size and CAGR for the Oil And Gas Pipeline And Related Structures Construction Market Size?
The Oil And Gas Pipeline And Related Structures Construction market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for construction of oil and gas pipelines and related structures is forecasted to experience stable growth over the coming years. It is predicted to rise to an impressive $313.75 billion by 2029, witnessing a compound annual growth rate (CAGR) of 3.8%.
This growth during the forecast period can be ascribed to various factors such as an ongoing rise in energy demand, the integration of renewable energy, modernization and replacement projects, geopolitical influences, and a shift towards diversifying energy sources. Key trends during this period are expected to involve geopolitical stability and risks, resilient management of supply chains, a focus on safety within construction procedures, investments in LNG infrastructure, and the digital revolution in project management and execution.
What Key Factors and Trends Are Driving The Growth Oil And Gas Pipeline And Related Structures Construction Market?
The growth of the oil and gas pipeline and related structures construction market is projected to be boosted by the rising demand for natural gas. Natural gas, primarily composed of methane but also containing small amounts of ethane, propane, butane, and pentane, generates a higher need for gas transmission pipelines for secure transportation and delivery. In February 2023, for example, the US Energy Information Administration (EIA), a statistical and analytical governmental body, reported that the consumption of natural gas in the US escalated to 88.5 Bcf/d (billion cubic feet per day) in 2022, marking a 5.4% increase from the 84.0 Bcf/d consumed in 2021. Similarly, the total imports of natural gas rose to 8.3 Bcf/d in 2022, up from 7.7 Bcf/d in 2021. Hence, the growing demand for natural gas serves as a significant driver for the expansion of the oil and gas pipeline and related structures construction market.
What Are The Market Segments In The Oil And Gas Pipeline And Related Structures Construction Market?
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
Subsegments:
1) By Crude Oil Pipeline: Onshore Crude Oil Pipeline, Offshore Crude Oil Pipeline
2) By Natural Gas Pipeline: Onshore Natural Gas Pipeline, Offshore Natural Gas Pipeline
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What Trends Are Shaping The Oil And Gas Pipeline And Related Structures Construction Market?
The rise of technological innovation and progress is a pivotal trend emerging in the construction market for oil and gas pipelines and related structures. In order to maintain their market positions, companies in this area are embracing new technologies. For example, PGNiG, an oil and gas corporation headquartered in Poland, employed a cutting-edge gas pipeline on the Norwegian Continental Shelf in January 2022. They did this by using Electrically Heat-Traced Flowline (EHTF) technology, which enabled the longest pipeline installation connecting remote fields to existing production infrastructure cost-effectively, all while reducing the overall carbon footprint linked to their extraction.
Who Are the Key Players In The Oil And Gas Pipeline And Related Structures Construction Market?
Major companies operating in the oil and gas pipeline and related structures construction market include:
• Larsen & Toubro Limited
• Sunland Construction Inc.
• Barnard Construction Inc.
• Bechtel Corporation
• Ledcor Group
• Pumpco Inc.
• Shengli Oil & Gas Pipe Holdings Limited
• Snelson Companies Inc.
• Tenaris S.A.
• Bonatti S.p.A.
• MasTec Canada Inc.
• Fluor Corporation
• McDermott International Ltd.
• Kinder Morgan Inc.
• Pembina Pipeline Corporation
• Joint Stock Company Transneft
• Primoris Services Corporation
• Spiecapag UK Ltd.
• TC Energy Corporation
• TechnipFMC plc
• Ray McDermott Engineering Pvt. Ltd.
• Saipem S.p.A.
• Michels Corporation
• Quanta Services Inc.
• Strike LLC
• Welded Construction L.P.
• Henkels & McCoy Inc.
• Mears Group Inc.
• Precision Pipeline LLC
• Price Gregory International Inc.
• U.S. Pipeline Inc.
• Arnett & Burgess Pipeliners Ltd.
• Blackeagle Energy Services
• Cenergy LLC
• Cross Country Pipeline Supply Co. Inc.
• Global Pipeline Construction Ltd.
• Miller Pipeline LLC
• NPL Construction Co.
• PCL Construction Enterprises Inc.
What Are The Regional Insights Into The Oil And Gas Pipeline And Related Structures Construction Market?
North America was the largest region in the oil and gas pipeline and related structures construction market in 2024. 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
