Press release
Product Innovation In Midstream Oil And Gas Equipment Market Trend: A Crucial Influence on the Midstream Oil & Gas Equipment Market's Transformation in 2025
Midstream Oil & Gas Equipment Global Market Size
The growth of the midstream oil and gas equipment market is projected to be spurred by the rising global demand for oil and gas. This upsurge in need is attributed to the escalating requirement for natural resources to satisfy the energy requirements of various industries and consumers around the world. Midstream oil and gas resources play an integral role in fulfilling this demand by facilitating the safe, efficient transportation and storage of these commodities. For instance, it was reported by the Energy Information Administration, a governmental agency from the US, that there was a surge in global oil production to 100.9 million barrels per day (b/d) in October 2024. This represents an increase of 1.5 million barrels per day b/d from 99.4 million b/d in 2023. Consequently, the burgeoning demand for oil and gas worldwide is propelling the growth of the midstream oil and gas equipment market.
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What Is the projected market size and growth rate for the midstream oil & gas equipment market?
In recent times, the market size of midstream oil & gas equipment has seen a significant expansion. It was projected to increase from $33.23 billion in 2024 to $35.81 billion in 2025, with a 7.8% compound annual growth rate (CAGR). This growth during the historical period can be ascribed to a surge in global energy demand, the broadening of oil and gas exploration, strategic projects involving pipeline infrastructure, the globalization of gas markets, and an increase in the production of shale gas.
The market size for midstream oil & gas equipment is forecasted to experience robust growth in the coming years, reaching "$48.37 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 7.8%. The increase during the forecasted period is credited to factors such as the shift towards renewable energy sources, the evolution of the hydrogen economy, improved security measures for pipelines, worldwide connectivity initiatives, and investments made into LNG infrastructure. Notable trends anticipated during the forecast period encompass digitalisation and internet of things (iot) integration, solutions for energy storage, cutting-edge inspection technologies, combined automation and control systems, digital twin technology, and safety advancements in transportation.
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What new trends are reshaping the midstream oil & gas equipment market and its opportunities?
Presenting novel product concepts is a growing trend seen within the midstream oil and gas equipment industry. To maintain their market stance, key businesses in this sector are increasingly turning to product innovation. For example, in February 2022, CIRCOR International Inc., an industrial equipment manufacturer from the United States, introduced the CIR 3100 control valve, a product specifically engineered for oil and gas transportation. The unique design of this valve includes adaptable internal options that can be altered according to various process needs, thus leading to reduced upkeep expenses for the equipment. Capable of functioning in both low and high-pressure drop services, the CIR 3100 control valve also features a Class V leakage option suitable for high-temperature environments.
What major market segments define the scope and growth of the midstream oil & gas equipment market?
The midstream oil & gas equipment market covered in this report is segmented -
1) By Type: Pipes, Rail Tank Cars, Gas Processing Equipment, Storage Tanks, Pumps, Valves And Compressors
2) By Resource: Crude Oil, Natural Gas
3) By Application: Air Separation, Gas Lift, Gas Purification, Hydro Desulphurization, Hydrogen Production, Natural Gas Processing, Recycle Compression, Vapor Recovery
Subsegments:
1) By Pipes: Seamless Pipes, Welded Pipes, Coated Pipes
2) By Rail Tank Cars: Pressure Tank Cars, Non-Pressure Tank Cars, Specialty Tank Cars
3) By Gas Processing Equipment: Gas Sweetening Units, Gas Dehydration Units, Fractionation Equipment
4) By Storage Tanks: Aboveground Storage Tanks (AST), Underground Storage Tanks (UST), Floating Roof Tanks
5) By Pumps: Centrifugal Pumps, Positive Displacement Pumps, Submersible Pumps
6) By Valves: Gate Valves, Ball Valves, Check Valves
7) By Compressors: Reciprocating Compressors, Rotary Screw Compressors, Centrifugal Compressors
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Which region dominates the midstream oil & gas equipment market?
Asia-Pacific was the largest region in the midstream oil and gas equipment market in 2024. and is expected to be the fastest-growing region in the global midstream oil and gas equipment market during the forecast period. The regions covered in the midstream oil & gas equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Which key market leaders are driving the midstream oil & gas equipment industry growth?
Major companies operating in the midstream oil & gas equipment market include Ariel Corporation, EVRAZ plc, General Electric Company, Pentair Industries Inc., Trinity Industries Inc., Exterran Corporation, Sulzer Ltd., Greenbrier Companies Inc., Flowserve Corporation, Tenaris SA, Cameron International Corporation, ABB Limited, Baker Hughes Company, Caterpillar Inc., Halliburton Company, Legend Oil and Gas Ltd., Energy Transfer LP, Boardwalk Pipeline Partners LP, Kinder Morgan Inc., Enterprise Products Partners LP, Enbridge Inc., MarkWest Energy Partners LP, TransCanada Corporation, Cheniere Energy Inc., The Williams Companies Inc., Plains All American Pipeline LP, ONEOK Inc., Compañía de Petróleos de Chile SA, MPLX LP, Magellan Midstream Partners LP, Ebara Corporation
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What Is Covered In The Midstream Oil & Gas Equipment Global Market Report?
• Market Size Forecast: Examine the midstream oil & gas equipment market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the midstream oil & gas equipment market for a structured understanding.
• Key Players Overview: Analyze major players in the midstream oil & gas equipment market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the midstream oil & gas equipment market.
• Segment Contributions: Evaluate how different segments drive overall growth in the midstream oil & gas equipment market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the midstream oil & gas equipment market.
• Industry Challenges: Identify potential risks and obstacles affecting the midstream oil & gas equipment market.
• Competitive Landscape: Review strategic developments in the midstream oil & gas equipment market, including expansions, agreements, and new product launches.
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