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Oil And Gas Pipeline And Related Structures Construction Market Size, Share, Growth Trends, Forecast 2024-2033
Oil And Gas Pipeline And Related Structures Construction Market Size
As per the report, 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 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%.
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Surging Natural Gas Demand Drives Growth In Oil And Gas Pipeline Construction Market
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.
Technological Advancements Propel Growth In Oil And Gas Pipeline Construction Market
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 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
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Major companies operating in the oil and gas pipeline and related structures construction market report are Larsen & Toubro Limited, Sunland Construction Inc., Barnard Construction Inc., Bechtel Corporation, Ledcor Group, Gateway Pipeline LLC, Pumpco Inc., Shengli Oil & Gas Pipe Holdings Limited, Snelson Companies Inc., Tenaris S.A., Bonatti S.p.A., MasTec Canada Inc., Fluor Corporation, KAD Construction LLC, 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., Amec Foster Wheeler, Saipem S.p.A., Willbros Group Inc., 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. .
Contents of the report:
1. Executive Summary
2. Oil And Gas Pipeline And Related Structures Construction Market Report Structure
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. Oil And Gas Pipeline And Related Structures Construction Market Size And Growth
…..
27. Oil And Gas Pipeline And Related Structures Construction Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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