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Oil & Gas Infrastructure Market Analysis

  • Report ID: GMI5274
  • Published Date: May 2022
  • Report Format: PDF

Oil & Gas Infrastructure Market Analysis

Oil & gas storage market size valued at nearly USD 22 billion in 2021. High dependability of resources for power generation coupled with retirement of coal fired power substations will complement the segment statistics. Increasing measures pointed toward keeping up with the national security while safeguarding the economy during energy emergency will improve the growth potential for market revenue.
 

Ongoing utilization of oil and natural gas facilities and improvement of storage activities owing to the rising demand of the natural gas in multiple application will influence the industry growth. Increasing requirement for refined petroleum products including fuel oil, diesel fuel, kerosene, gasoline, liquified petroleum gas and liquified natural gas will positively impact the market demand. However, upsurge in need for the innovative technological solution with safer operation in remote areas will thrust the segment outlook.
 

Favorable government policies toward the conventional resources combined with high requirement of natural gas will sway the market statistics. Furthermore, increasing investment toward lease equipment and surface design with advanced technological innovations across the upstream sector will positively garner the oil & gas infrastructure market.
 

For instance, in March 2022, Enterprise Products announced to acquire a midstream company Navitas Midstream Partners from the private equity organization Warburg Pincus. The deal accounted for USD 3.25 billion which will accelerate the company’s natural gas pipeline network across the region. This acquisition offers Enterprise’s natural gas liquid and natural gas processing business to Midland Basin, which is one of the prolific crude oils and most economic regions in the U.S.
 

Enlargement of transportation and storage facilities to store the LNG together with security concern of energy will foster the industry. Refurbishment, replacement, upgradation of existing refinery to improve refinery capacity will propel the global oil & gas infrastructure market. In addition, government measures to support gas-based economy with subsidies and incentives provided by regulatory authorities toward the acceptance and implementation of sustainable energy resources will promote the business dynamics.
 

Oil, Gas & NGL Pipeline market is anticipated to surge at a rate of 6% through 2030. Paradigm shift toward gas-based power plants and surging necessity for propylene, ethylene & other natural gas liquids will drive the investment toward the improvement of the infrastructure. Preventing disruption of oil & gas pipeline merged with integration of advanced security systems making operations secure, more economical, and productive will supplement the oil & gas infrastructure market industry statistics.
 

Accelerating spending toward development of LNG terminal alongside shifting trends toward the natural gas pipeline networks will enhance the market share. Further, urge of the natural gas in line with the rapid expansion of the gas transportation infrastructure across the emerging economies will generate the infrastructure requirement.
 

Government measures to reduce the carbon footprints and greenhouse gas emissions has prompted the utilization of CNG and LNG as an alternative fuel of gasoline and diesel which will assist the natural gas infrastructure market. Additionally, U.S. has witnessed an increase in the utilization of LNG cryogenic application in the industrial sector which will augment the business growth.
 

Europe market share for Oil & Gas Infrastructure, By Country

Europe oil & gas infrastructure market accounted for USD 95 billion in 2021. Favorable government regulations in western European countries with the prevalence of customized and advanced technology solutions will spur the investment opportunity globally. Increasing ask for the natural gas specifically from the Eastern Europe has prompted the exploration of unexplored subsea reserves significantly located across the UK and Norway.
 

Oil & gas infrastructure in Asia Pacific region has projected robust growth led by increasing development of gas infrastructure across the region. The current expansion of city gas distribution to enhance the usage of gas across the residential and commercial sector will stimulate the industry outlook.

Authors: Ankit Gupta, Abhishek Chopra

Frequently Asked Questions (FAQ) :

The market size of oil & gas infrastructure valued at more than USD 714.4 billion in 2023 and is poised to record a CAGR of over 6.7% from 2024 to 2032, says this GMI report.

The oil & gas storage infrastructure segment worth USD 22 billion in 2021 and will expand with the higher dependability of resources for power generation and the retirement of coal-fired power substations.

The oil & gas infrastructure industry in Europe generated over USD 95 billion in 2021 due to the presence of favorable government regulations and access to customized and advanced technology solutions.

The oil, gas & NGL pipeline market is expected to strike a growth rate of around 6% through 2030 owing to the paradigm shift toward gas-based power plants and surging demand for natural gas liquids.

Oil & Gas Infrastructure Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 20
  • Tables & Figures: 268
  • Countries covered: 26
  • Pages: 215
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