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Surge In Oil And Gas Demand Fuels Growth In The Midstream Oil And Gas Equipment Market: An Emerging Driver Transforming The Midstream Oil & Gas Equipment Market Landscape
Midstream Oil & Gas Equipment
What Is the Projected Growth of the Midstream Oil & Gas Equipment Market?
The Midstream Oil & Gas Equipment Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
What Is the Projected Growth of the Midstream Oil & Gas Equipment Market?
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What Are the Different Midstream Oil & Gas Equipment Market Segments?
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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What Are the Primary Drivers Shaping the Midstream Oil & Gas Equipment Market?
The surge in global demand for oil and gas is predicted to fuel the expansion of the midstream oil and gas equipment market. This upswing in need for oil and gas worldwide corresponds with the escalating requirement for natural resources designed to satisfy the energy requirements of a multitude of industries and consumers across the globe. Midstream oil and gas products play a crucial role in catering to this need for oil and gas by ensuring its safe and effective transportation and storage. For instance, the Energy Information Administration, an American government agency, reported in October 2024 that global oil production had climbed to 100.9 million barrels per day (b/d) in 2023, indicating an increment of 1.5 million barrels per day (b/d) compared to the 99.4 million b/d recorded in 2022. Consequently, the upswing in global demand for oil and gas is stimulating the growth of the midstream oil and gas equipment market.
Which Companies Are Leading in the Midstream Oil & Gas Equipment Market?
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
What Are the Major Trends Shaping the Midstream Oil & Gas Equipment Market?
The introduction of inventive products is becoming a significant trend in the midstream oil and gas equipment market. Key players in this market are launching groundbreaking products to maintain their prominence. For instance, CIRCOR International Inc., a company based in the US that specializes in industrial equipment manufacturing, unveiled the CIR 3100 control valve in February 2022. This valve, specifically engineered for oil and gas transport, boasts an innovative design with adaptable internal features, allowing adjustments in line with varying process conditions, thereby reducing equipment upkeep costs. It's capable of operating under both low and high-pressure drop conditions. Additionally, the CIR 3100 control valve includes a class V leakage feature that caters to high-temperature scenarios.
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What Are the Top Revenue-Generating Geographies in 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
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Midstream Oil & Gas Equipment Market?
2. What is the CAGR expected in the Midstream Oil & Gas Equipment Market?
3. What Are the Key Innovations Transforming the Midstream Oil & Gas Equipment Industry?
4. Which Region Is Leading the Midstream Oil & Gas Equipment Market?
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