Europe Oil & Gas Infrastructure Market Size

Europe Oil & Gas Infrastructure Market Size

Europe Oil & Gas Infrastructure Market size was valued at USD 106.8 billion in 2022 and is anticipated to expand at a CAGR of 6% between 2023 and 2032. Oil & gas infrastructure contains a stack of resources consisting of refineries, pipelines, terminals, drilling platforms, processing plants, and storage facilities in oil & gas sector. Growing demand of gas-based infrastructure across the region coupled with increasing exploration and production activities will foster the business scenario. Growing investment to expand pipeline infrastructure to transport oil & gas products across Europe as well as to amplify the country’s economy will nourish the industry outlook.

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Continuous utilization of nonconventional oil & gas resources including tight gas and shale oil in line with advanced technological systems for increased energy efficient production rate of oil & gas will propel the market penetration. In addition, escalating investment to surge the crude oil production coupled with soaring demand for light distillates will thrust the industry landscape. Additionally, rising concern toward energy transition and decarbonization along with driving investment in renewable energy infrastructure and exploring the potential for carbon capture and storage technology will positively influence the industry outlook.