Press release
Oil And Gas Infrastructure Market to Grow at 8.2% CAGR, Reaching $1093.74 Billion by 2029
Oil And Gas Infrastructure
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Oil And Gas Infrastructure Market Outlook: How is the Market Expected to Grow by 2025?_x000D_
The market size for oil and gas infrastructure has seen robust growth lately. The market expansion is projected to move from $739.23 billion in 2024 to $798.89 billion in 2025, reflecting a compound annual growth rate (CAGR) of 8.1%. Causes for this growth throughout the historical period include a rise in energy demand, increased resource accessibility, fluctuating market prices, upgrades to infrastructure, and concerns over carbon emissions._x000D_
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Oil And Gas Infrastructure Market Forecast: What Size Will It Reach By 2029?_x000D_
In the coming years, the market size of oil and gas infrastructure is predicted to experience significant growth, expanding to $1093.74 billion in 2029 with an 8.2% compound annual growth rate (CAGR). This growth during the forecast period can be linked to risk reduction tactics, adaptability in market fluctuations, financial and investment patterns, supply chain robustness, and the integration of remote operations. Notable trends during this forecast period encompass energy demand dynamics, the availability of resources, a transition towards renewable energy, market unpredictability, and geopolitical elements._x000D_
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Which Key Market Drivers Will Shape Oil And Gas Infrastructure Industry Trends in 2025-2029?_x000D_
The burgeoning necessity for natural gas is set to stimulate the expansion of the oil and gas infrastructure market. Natural gas, which is colorless, odorless, and the purest form of fossil fuel on earth, consists of one carbon atom and four hydrocarbon atoms (CH4, otherwise known as methane). The escalating demand for this resource globally necessitates the production of more natural gas, meaning infrastructure development is essential. For example, the Belgium-based executive branch of the European Union, the European Commission, reported in May 2024 that in 2023, the request for natural gas saw a surge in Finland (+25.6%), Sweden (+11.1%), Poland (+5.3%), Malta (+4.5%), Denmark (+1.1%), and Croatia (+0.8%) in comparison to 2022. As a result, the increasing demand for natural gas is a key driver of growth in the oil and gas infrastructure market._x000D_
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What Are the High-Growth Segments in the Oil And Gas Infrastructure Market?_x000D_
The oil and gas infrastructure market covered in this report is segmented - _x000D_
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1) By Category: Surface And Lease Equipment, Gathering And Processing, Oil, Gas And NGL Pipelines, Oil And Gas Storage, Refining And Oil Products Transport, Export Terminals_x000D_
2) By Operation: Transmission, Distribution_x000D_
3) By Deployment: Onshore, Offshore_x000D_
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Subsegments:_x000D_
1) By Surface And Lease Equipment: Wellhead Equipment, Separators And Treaters, Pumps And Compressors_x000D_
2) By Gathering And Processing: Gathering Systems, Processing Facilities_x000D_
3) By Oil, Gas, And NGL Pipelines: Crude Oil Pipelines, Natural Gas Pipelines, Natural Gas Liquids (NGL) Pipelines_x000D_
4) By Oil And Gas Storage: Aboveground Storage Tanks (ASTs), Underground Storage (UGS), LNG Storage Tanks_x000D_
5) By Refining And Oil Products Transport: Refineries, Product Pipelines, Transportation And Distribution Systems_x000D_
6) By Export Terminals: Crude Oil Export Terminals, LNG Export Terminals, Product Export Terminals_x000D_
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Which Global Trends Are Driving Oil And Gas Infrastructure Market Expansion?_x000D_
The predominant trend in the oil and gas infrastructure market is the rise of technological innovations. Established companies within this market are introducing groundbreaking technologies to solidify their market standing. For example, Airbus, a U.S. company specializing in aerospace technology, launched satellite-based inspection services for oil and gas infrastructure in August 2022. These inspections aim to detect and rectify any issues that could potentially jeopardize infrastructure integrity, leading to harm to the environment, residents, or machinery. Satellite technology continues to improve at a rapid pace, now enabling high-resolution image capture. The resolution of radar images is 25 cm, while that of optical images reaches up to 30 cm (Pléiades Neo) (TerraSAR-X). The newly released Pléiades Neo HD15 imaging product offers an impressive 15 cm resolution. These high resolutions facilitate meticulous inspections of facilities, machinery, and piping. The optimal sensor will be chosen based on the task and level of cloud cover._x000D_
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Who Are the Fastest-Growing Companies in the Oil And Gas Infrastructure Industry?_x000D_
Major companies operating in the oil and gas infrastructure market are NGL Energy Partners LP, Centrica PLC, Kinder Morgan Inc., Schlumberger Limited, Royal Vopak NV, Shell PLC, Exxon Mobil Corporation, Baker Hughes Company, Chevron Corporation, TotalEnergies SE, ConocoPhillips Company, British Petroleum PLC, Energy Transfer LP, Marathon Oil Corporation, Occidental Petroleum Corporation, Hatch Ltd., Aker Solutions ASA, Subsea 7 S.A., Saipem S.p.A., Fluor Corporation, KBR Inc., WorleyParsons Limited, Bechtel Corporation, CH2M Hill Companies Ltd., SNC-Lavalin Group Inc., Petrofac Limited, Chicago Bridge & Iron Company N.V., Shawcor Ltd., The Shaw Group Inc., Foster Wheeler AG _x000D_
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What Is the Regional Outlook for the Oil And Gas Infrastructure Market by 2029?_x000D_
Europe was the largest region in the oil and gas infrastructure market in 2024. The regions covered in the oil and gas infrastructure market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa._x000D_
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