Oil & Gas Infrastructure Market Size & Share 2025 - 2034

Oil & Gas Infrastructure Market Size

The global oil & gas infrastructure market size was valued at USD 761.1 billion in 2024. The market is expected to reach USD 1.46 trillion in 2034, at a CAGR of 6.8%. Rising demand for oil & gas particularly in key emerging geographies along with escalating investment in large-scale infrastructure development will influence the business landscape.

Robust population, urbanization, and industrialization along with growing refined products, natural gas, and crude oil demand will strengthen expansion of storage facilities, processing plants & pipelines, thereby augmenting industry potential. The global upstream oil and gas investment as per IEA has observed 7% growth in 2024 and accounted for USD 560 billion following a 9% surge when compared with 2023.
 

Industries and government are shifting their dependency from oil and coal to natural gas-based products driven by its lower carbon emission coupled with rising demand for LNG export & import terminal facility and regasification plants will create favorable industry opportunity. Growing investment toward development of innovative technological solutions will boost the oil & gas infrastructure market growth.
 

The PNGRB has granted authorization for the development & expansion of 307 City Gas Distribution infrastructure in 2024, aiming to cover approximately 100% of the country’s population and territory. The country has completed 1.36 crore domestic PNG connections along with 7,259 CNG stations.
 

Continuous expansion of production and exploration activities which require robust midstream infrastructure comprising of transportation networks, storage tanks, and pipeline to ensure efficient distribution of natural gas & crude oil will accelerate the industry trend. Surging need for fuel and petrochemical products in tandem with burgeoning investment into refinery facility & petrochemical complexes will augment the business prospective.
 

The industries are continuously investing in gas pipelines, new refineries, and offshore platforms to grow their market share thereby, driving the business growth. Ongoing digitalization, automation, and modernization efforts to ensure infrastructure with safety, high efficiency, and compliance with stringent mandates will encourage industry growth.
 

As of 2024, 8 export and 99 import terminals are completed over the last two years thereby, adding 7% to global export capacity and 19% to import capacity. In addition, major industry players are developing 156 new LNG terminal projects, 63 of which are export terminals and 93 are import terminals, to be completed by 2030.
 

Government from all over the world are rolling out supportive policy environments to help ensure infrastructure resiliency, energy security, and strategic reserve capacity, which will enhance the demand for oil & gas infrastructure development. Accelerating investment in increasing refineries, pipeline ventures, and LNG development will add fuel to industry growth.
 

Oil & Gas Infrastructure Market Trends

Existing geopolitical tensions chiefly within the Middle East region and a quest for energy independence have resulted in significant investment in O&G infrastructure. Strict environmental and safety regulations in terms of the implementation of emission reduction technologies and sophisticated pipeline monitoring solutions will also provide growth boost to the industry.
 

Upsurging funding in deepwater and offshore projects which require cutting edge infrastructure including subsea pipelines, drilling platforms, and FPSO units will propel the business growth. Increasing LNG demand across emerging markets in association with rapid industrialization expansion will foster the demand for efficient infrastructure.
 

For reference, the PTTEP signed a sales and purchase agreement with Wintershall in 2024 to acquire 10% share in natural gas Ghasha Concession in UAE. The acquisition will help the company to strengthen its Middle East investments portfolio.
 

Continuous integration of AI driven predictive maintenance, automation, and digitalization capabilities to excel safety & efficiency in line with advanced pipeline monitoring, blockchain based supply chain enabling tracking of these systems will amplify the oil & gas infrastructure market growth. Shifting trends toward gas-based infrastructure along with growing gas consumption will positively sway the industry landscape. For reference, petroleum product consumption in India reached 234.3 MMT in 2024 reflecting a growth of around 50% from 158.4 MMT in 2014.
 

Accelerating expansion and development of pipeline projects to enhance connectivity between demand centers & production fields will spur the need for these facilities. Rising demand for LNG infrastructure in the developing world in combination with growing investment in floating storage and regasification units, regasification terminals, and liquefaction plants will drive the industry landscape.
 

The India presented USD 67 billion investment opportunity in 2024 as consumption of natural gas is expected to grow from 6.7% to 15% in the nation’s energy mix by 2030. This will further support by country’s continuous focus toward expansion of CGD network and PNG infrastructure.
 

Continuous upgradation of aging pipelines with advanced materials and leak detection systems to optimize efficiency & safety will encourage the industry growth. In addition, refineries are increasingly associated with petrochemical production to capitalize its margins coupled with surging investment to modernize refineries to produce high value of petrochemicals will boost profitability and operational flexibility.
 

Oil & Gas Infrastructure Market Analysis

• The oil & gas infrastructure market was valued at USD 669.8 billion, 716 billion, and 761.1 billion in 2022, 2023 and 2024, respectively. Based on category, the industry is segmented into surface and lease equipment, gathering & processing, oil, gas & NGL pipelines, oil & gas storage, refining & oil products transport, and export terminals.
   
• Surface and lease equipment in oil & gas infrastructure market will project at a CAGR of over 6.5% by 2034 propelled by continuous expansion of new exploration & production projects along with rising need for surface & lease equipment facility to support the operations. Enlargement of the unconventional drilling such as tight gas and shale gas along with creation of new and advanced technologies will increase the demand for surface equipment's.
   
• Bureau of Land Management brought forward the Fluid Mineral Leases and Leasing Process Rule in 2024 that created new guidelines for oil & gas leasing within federal lands. The update in leasing rule included the provisions mandated by IRA, including increased financial requirement and new administrative fees: Charges for submitting Expressions of Interest to lease federal oil and gas rights.
   
• Gathering & processing in oil & gas infrastructure market will exceed USD 300 billion by 2034. Rapid advancements in infrastructure development including high capacity gathering systems in line with increasing adoption of automated flow control systems and high-efficient compressor will encourage the business growth. The gathering process involves the collection of natural gas and crude oil from wellhead via truck and pipeline networks.
   
• In 2024, Voyager Midstream Holdings completed the acquisition of Phillips 66's natural gas processing and gathering assets. This deal encompassed more than 550 miles of natural gas pipelines equipped with compression pumps, as well as an operating cryogenic gas processing capacity of 400 MMcf/d.
   
• The oil, gas & NGL pipelines segment held over USD 190 billion in 2024. Increasing demand for the products across petrochemicals, refining, power generation, and residential heating will drive the expansion of pipeline infrastructure. Moreover, increasing demand for petrochemical feedstock in the form of butane, propane, and ethane will drive the demand for NGL pipelines in major geographies.
   
• ONEOK announced in 2024 that it has successfully commissioned the MB-6, a 125,000 bpd Texas NGL fractionator, in line with the development of the West Texas NGL pipeline. This expansion will enhance the company's capacity to leverage the growing demands for NGL supply infrastructure.
   
• The oil & gas storage in oil & gas infrastructure has a market share of over 3.5% in 2024 driven by a shift toward natural gas-based economy along with robust expansion of global trade and ensure supply flexibility. Growing petrochemical manufacturing and refinery operations which require large storage facilities for feedstocks, crude oil, and end use products comprising of jet fuel, diesel, and gasoline will propel the business scenario.
   
• The Nigerian National Petroleum Corporation in association with TotalEnergies in 2024 has announced the final investment decision for the Ubeta Gas Field Development project. This project accounted USD 550 million which will for development of drilling of 6 wells and 11 km pipeline enabling the efficient transport of gas to the existing processing facilities in Obite.
   
• The refining & oil products transport in oil & gas infrastructure market will project over USD 160 billion in 2034. Rising investment in expansion of crude and refined product pipelines infrastructure along with ongoing cross-border pipeline projects will drive the industry growth. Moreover, the growth in storage terminals, rail transportation, and tanker fleets are influencing the product deployment.
   
• For reference, in May 2024, TotalEnergies has announced an investment accounted USD 600 million to excel production, exploration, and infrastructure enhancements capabilities at the Moho Nord field, Congo. This investment is poised to grow its capacity by 40,000 bpd to 180,000 bpd.
   
• The export terminals in oil & gas infrastructure market will exceed USD 80 billion in 2024. The industry is gaining traction owing to accommodate increasing trade volume to ensure continuous energy supply. Rising global interest in ammonia, hydrogen, and low carbon fuels in line with surging demand for marine loading & pipeline connectivity will enhance dedicated export facilities across emerging economies.
   

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• U.S. oil & gas infrastructure market accounted for USD 70.1, 75.2, and 80.4 billion in 2022, 2023, and 2024, respectively. The market will account for over USD 150 billion in 2034. The country is prioritizing infrastructure investment to drive energy security, ensure uninterrupted fuel supply, and limit supply chain vulnerability will foster the business landscape. Increasing investment to develop new liquefaction facilities and advancements in existing terminals will escalate industry penetration.
   
• North America oil & gas infrastructure market will witness at a CAGR of 6.5% in 2034. Continuous expansion of refineries, storage terminals, and modernization of aging pipelines networks coupled with extreme weather-related events including wildfires, deep freeze, and hurricanes are influencing substantial investment in resilient infrastructure facilities capable of climate risks.
   
• For instance, in 2024, the Canadian Association of Petroleum Producer announced that its capital investment in upstream oil & natural gas sector accounted USD 29.9 billion in 2024 which was rose from USD 28.72 billion in 2023.
   
• The Europe oil & gas infrastructure has a market share of over 15% in 2024. The region is witnessing robust growth on account of expansion of infrastructure projects aligned with climate goals in line with upgrading its LNG imports refined product export facilities. In addition, enhancement in hydrogen projects including storage and transmission networks along with carbon capture and storage pipeline networks will encourage the business overview.
   
• For instance, in March 2024, as per Global Energy Monitor, Europe is advancing the development of LNG infrastructure and gas pipelines networks. The announced projects are set to boost region’s total gas import capacity by 55% with an investment accounted USD 87.58 billion.
   
• The Asia Pacific oil & gas infrastructure market is set to reach over USD 400 billion by 2034. The region is investing in strategic petroleum reserves to boost energy security during supply disruptions in conjunction with rising urbanization and industrialization growth will positively sway the demand for petroleum products. In addition, government of respective key regions are expanding their LNG and crude oil storage capacity to mitigate price volatility & supply disruptions will complement business growth.
   
• For instance, in 2024, according to Ministry of Petroleum & Natural Gas, the total length of natural gas pipelines in India has grown from 15,340 km in 2014 to 24,945 km in 2024. In addition, over 10,805 km of pipelines are under construction. This expansion will facilitate the widespread availability of natural gas across the country along with economic and social growth.
   
• The Middle East & Africa oil & gas infrastructure has a market share of over 30% in 2024. The region is poised for substantial growth propelled by strategic foothold in global energy trade and abundant availability of oil & gas reserves. Ongoing government support to meet domestic energy demand coupled with modernization of its port facilities, export terminals, and pipelines networks will propel the industry penetration.
   
• For reference, in August 2024, Saudi Arabia has announced to invest USD 100 billion in natural gas sector aimed to become 3^rd largest shale gas producer in the world, capitalizing on its vast 229 Tcf of confirmed gas reserves in Jafurah field. Moreover, as part of this initiative Aramco has announced to invest USD 25 billion for the construction of key infrastructure development, with production set to begin in 2025.
   
• The Latin America oil & gas infrastructure market is poised to grow at a CAGR of over 6.5% in 2034. Continuous efforts to enhance its energy infrastructure comprising of gas processing facilities, refineries, and petrochemical plants will augment the industry scenario. Furthermore, the region’s energy infrastructure is continuing to rise driven by strategic partnerships with international technology firms, financial institutions, and oil companies.
   
• For instance, in 2024, the region is set to invest USD 7.2 billion for expansion of new LNG import facility with adding up to 46 mtpa. This facility will further enhance its capacity by 50%. In addition, Brazil is the 4^th largest LNG import terminal development country across globally, contributing 36.5 mtpa to the rising infrastructure.
   

Oil & Gas Infrastructure Market Share

• Top 5 companies for oil & gas infrastructure industry are Baker Hughes, Halliburton, SLB, Chevron Corporation, and TotalEnergies holds over 40% market share. For instance, in November 2024, Halliburton extended its customer base in Namibia by establishing new bases in Windhoek, Walvis Bay, Swakopmund and Lüderitz, thus supporting the growth of oil and gas activities in the country.
   
• Baker Hughes’ advanced oil & gas structure technology is set for major expansion, strengthening their position as an industry leader. With developments in digital products, energy use efficiency, and emissions reduction, the company maintains transformation throughout the industry.
   
• TotalEnergies’ oil & gas business production has increased by 2% YoY fueled by LNG production growth surged by 9% in 2023. The company has expansion its exploration activities in Nigeria, Suriname, and Namibia along with it reported a reserves replacement ratio of 141% in the same year.
   

Oil & Gas Infrastructure Market Companies

• Baker Hughes reported USD 27.8 billion in revenue in 2024. Among the segments the oilfield service and equipment segment generated USD 15.6 billion in revenue, which has grown by 2% year over year. Moreover, its industrial & energy technology segment generated around USD 12.2 billion, which has grown by 20% year over year.
   
• Halliburton reported USD 22.9 billion in revenue in 2024. The company keeps expanding owing to its wide range of contracts which enable it to maintain its position in the oil and gas infrastructure market. For instance, in January 2025, Halliburton received a contract from Petrobras, for integrated drilling services for offshore fields in Brazil for the next three years.
   
• SLB reported USD 36.3 billion revenue in 2023, an increase of 10% year on year. Furthermore, SLB’s cutting-edge technology and solution capabilities have placed the company in a strong position within the oil and gas industry. For instance, in January 2025, SLB joined forces with Star Energy Geothermal in leveraging the company’s technology and innovation capabilities in energy solutions with the goal of developing advanced technologies for geothermal asset development.
   

Major players operating in the oil & gas infrastructure market are:

• Baker Hughes Company
• BP
• Centrica
• Chevron Corporation
• ConocoPhillips
• Energy Transfer
• Enterprise Products Partners
• Exxon Mobil Corporation
• Hatch
• Halliburton
• Kinder Morgan
• Marathon Oil Company
• NGL Energy Partners
• Occidental Petroleum Corporation
• ONEOK
• Royal Vopak
• SLB
• Shell
• TotalEnergies
• WILLIAMS
   

Oil & Gas Infrastructure Industry News

• In January 2025, Baker Hughes has secured an order from Tecnicas Reunidas to deliver six propane compressors and six gas compression trains for 3^rd phase development of Aramco’s Jafurah gas field located in Saudi Arabia. Strengthening its expertise in natural gas value chain, the company will also supply electric motor driven by compression solutions. In addition, this order will complement its long-term collaboration with Aramco, which includes initial phase of gas compression facility and Jafurah gas plant and Hawiyah gas & Haradh gas plant along with 3^rd phase of the country’s Master gas system project.
   
• In January 2025, BP has successfully commenced gas flow from wells at the Greater Tortue Ahmeyim Phase 1 LNG project, directing output to its FPSO vessel for next stage of commissioning. Once its completed, the GTA phase 1 is set to deliver over 2.3 million tonnes of LNG annually. Moreover, this milestone of the company will underscore a step forward and expand its footprint in both domestic and international market.
   
• In September 2024, Exxon Mobil Corporation and Mitsubishi Corporation entered a project framework agreement for Mitsubishi’s participation in Exxon Mobil’s advanced facility in Baytown, Texas. The project will produce low carbon hydrogen with an impressive 98% carbon capture efficiency in line with low carbon ammonia. In addition, it is projected to generate up to 1 billion bcf of low carbon hydrogen/day and 1 million tons of low carbon ammonia annually.
   
• In August 2024, Chevron announced to invest USD 1 billion to establish the Engineering and Innovation Excellence Center in Bangaluru. This R&D center marked the company’s first large-scale engineering and innovation facility in India. This center will focus on attracting specialized expertise in digital and engineering services. Furthermore, this initiative will reinforce the company’s commitment to cater energy solutions through its technology and innovation solutions.
   

The oil & gas infrastructure market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (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 regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Norway
  • UK
  • France
  • Italy
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
• Middle East & Africa
  • Saudi Arabia
  • Qatar
  • Nigeria
  • UAE
  • Oman
  • Egypt
• Latin America
  • Brazil
  • Argentina
  • Mexico