Europe Oil & Gas Infrastructure Market Size - By Category Analysis, Share, Growth Forecast 2025 – 2034

Europe Oil & Gas Infrastructure Market Size

Europe Oil & Gas Infrastructure Market was valued at USD 115.5 billion in 2024 and is expected to witness a CAGR of 6.1% from 2025 to 2034. Companies are heavily investing in carbon capture, utilization, and storage (CCUS) and hydrogen technologies. These efforts aim to reduce emissions while meeting the increasing demand for energy. This aligns with broader decarbonization goals across Europe as the region works towards achieving net-zero targets. The Europe oil and gas sector is witnessing a surge in mergers and acquisitions. This trend is driven by companies' need to enhance cash flow, optimize capital, and integrate low-carbon businesses. The focus is on acquiring assets that fit well within both traditional and emerging energy markets.
 

With an ongoing push for energy security, especially after the Russian invasion of Ukraine, Europe has turned to natural gas as a bridge fuel. This has increased the demand for gas pipelines, storage facilities, and LNG terminals. Companies are leveraging advanced technologies, including AI and real-time data analytics, to optimize operations. This is helping to reduce costs and improve efficiency in exploration, production, and maintenance.
 

Europe Oil & Gas Infrastructure Market Trends

A central focus in Europe’s oil and gas infrastructure market is the growing investment in decarbonization technologies, such as carbon capture, utilization, and storage (CCUS) and hydrogen. As the European Union strives to meet its net-zero emissions targets, oil and gas companies are turning to these technologies to continue production while reducing their carbon footprint. This trend is expected to accelerate as governments, especially in the UK and France, set stricter environmental regulations and carbon pricing policies. Many companies are also exploring green hydrogen, which is seen as a potential low-carbon solution for energy storage and transportation.
 

Europe Oil & Gas Infrastructure Market Analysis

The surface and lease equipment segment is projected witness more than 5.4% growth rate through 2034. The ongoing demand for energy security, particularly after geopolitical shifts like the Russia-Ukraine conflict, has led to increased investment in exploration and production, which boosts the need for surface and lease equipment. Additionally, the push for decarbonization and energy transition technologies is stimulating demand for more efficient, sustainable equipment. Technological advancements in automation, digitalization, and predictive maintenance are also enhancing operational efficiency, supporting the growth of this category by lowering costs and improving production uptime.
 

UK oil & gas infrastructure market is projected to surpass USD 20.9 billion by 2034, driven by a combination of innovation, regulatory shifts, and the ongoing energy transition. In the upstream sector, both onshore and offshore production face increased challenges from fluctuating demand, decommissioning aging platforms, and regulatory pressure to reduce emissions. Midstream infrastructure, including pipelines and storage, is evolving to accommodate both traditional fuels and emerging green energy sources. The downstream sector remains robust, with demand concentrated in the transport and industrial energy sectors. Companies like BP, Shell, and TotalEnergies are adopting advanced technologies to maintain competitive advantage and meet climate targets.
 

Europe Oil & Gas Infrastructure Market Share

Baker Hughes Company plays a significant role in the Europe oil and gas infrastructure industry, offering a wide range of services to support the oil and gas industry. With a strong presence in the sector, the company consistently delivers solutions tailored to various application areas within the oil and gas industry. Baker Hughes’ diverse portfolio includes services that span exploration, production, and energy management, helping operators enhance efficiency and sustainability across their operations.
 

Europe Oil & Gas Infrastructure Market Companies

Some of the key market players operating across the Europe oil & gas infrastructure industry are:

• BP p.l.c.
• Baker Hughes Company
• Centrica plc
• Chevron Corporation
• ConocoPhillips Company
• Exxon Mobil Corporation
• Halliburton
• Hatch Ltd.
• Royal Vopak
• Shell
• SLB
• TotalEnergies
   

Europe Oil & Gas Infrastructure Industry News

• In February 2024, ConocoPhillips has committed to an investment of USD 1.46 billion to develop the Tommeliten field in Norway, which is known for its gas and condensate reserves. The plan includes connecting the field to ConocoPhillips' existing infrastructure at the Ekofisk field through seabed installations, aiming to begin production from these reserves.
   

This Europe oil & gas infrastructure market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Billion from 2021 to 2034, for the following segments:

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Market, By Category

• Surface and Lease Equipment
• Gathering & Processing
• Oil, Gas & NGL Pipelines
• Oil & Gas Storage
• Refining & Oil Products Transport
• Export Terminals

The above information has been provided for the following countries:

• Norway
• UK
• France
• Italy
• Russia