Press release
Top Trends Transforming the Oil And Gas Pipeline And Related Structures Construction Market Landscape in 2025: Technological Advancements Propel Growth In Oil And Gas Pipeline Construction Market
Oil And Gas Pipeline And Related Structures Construction
What Will the Oil And Gas Pipeline And Related Structures Construction Industry Market Size Be by 2025?
The steady expansion of the oil and gas pipeline and associated structures construction market in recent times is evident. Projected to surge from $261.66 billion in 2024 to $270.43 billion in 2025, the compound annual growth rate (CAGR) will remain at 3.4%. The growth during the historical period is linked to an increase in energy demand, the commencement of infrastructure development schemes, the enlargement of oil and gas discovery, economic expansion, industrialization, and governmental strategies and policies.
What's the Long-Term Growth Forecast for the Oil And Gas Pipeline And Related Structures Construction Market Size Through 2029?
The market for oil and gas pipelines and related structures construction is anticipated to experience consistent expansion in the coming years. This market is projected to reach a value of $313.75 billion in 2029 with a compound annual growth rate (CAGR) of 3.8%. The upturn in the predicted period can be accounted for by factors such as consistent growth in energy requirement, assimilation of renewable energy, modernization and replacement projects, geopolitical influences, and a focus on diversifying energy sources. Major trends within this period will involve geopolitical stability and risks, robust supply chain operations, prioritization of safety in construction methods, investment towards LNG infrastructure, and digital advancements in project management and implementation.
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What Are the Key Growth Drivers Fueling the Oil And Gas Pipeline And Related Structures Construction Market Expansion?
The escalating need for natural gas is predicted to drive the expansion of the oil and gas pipeline along with the associated structures construction market. Natural gas, a crucial source of energy, primarily consists of methane but also includes minor elements like ethane, propane, butane, and pentane. The burgeoning demand for natural gas escalates the requirement for gas transmission pipelines, which reliably transport and distribute the originated natural gas. For instance, in February 2023, the US's Energy Information Administration (EIA), an official governing body, statistical and analytical bureau, stated that the consumption of natural gas in the US touched 88.5 Bcf/d (billion cubic feet per day) in 2022, a 5.4% surge compared to 84.0 Bcf/d in 2021. The total natural gas imports in the country increased to 8.3 Bcf/d in 2022, up from 7.7 Bcf/d in the preceding year. Hence, the spiralling demand for natural gas is a significant factor propelling the growth of the oil and gas pipeline and related structures construction market.
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What Are the Key Trends Driving Oil And Gas Pipeline And Related Structures Construction Market Growth?
The rise of technological innovation and development is a key developing trend in the construction market for oil and gas pipelines and related structures. To maintain their market presence, companies in this sector are turning to cutting-edge technology. For instance, PGNiG, an oil and gas company based in Poland, harnessed innovative pipeline technology in January 2022. They installed a pipeline on the Norwegian Continental Shelf using Electrically Heat-Traced Flowline (EHTF) technology. This marks the longest pipeline installation of its kind, connecting remote fields to pre-existing production infrastructure at a reduced cost. It also diminishes the overall carbon footprint associated with these operations.
How Is the Oil And Gas Pipeline And Related Structures Construction Market Segmented?
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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Which Companies Are Leading the Charge in Oil And Gas Pipeline And Related Structures Construction Market Innovation?
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.
Which Regions Are Leading the Global Oil And Gas Pipeline And Related Structures Construction Market in Revenue?
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
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