Oil Pipeline Infrastructure Market Size

Oil Pipeline Infrastructure Market Size

Oil Pipeline Infrastructure Market size was valued at over USD 680.2 billion in 2023 and is anticipated to grow at 3.6% CAGR from 2024 to 2032. The increasing global energy demand and the necessity to ensure energy security have created a need for a robust pipeline network.

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The development of infrastructure has significant impacts on various economic factors, including GDP growth, employment opportunities, and the functioning of businesses reliant on the supply of crude oil and refined petroleum products. The pipeline construction sector has faced challenges due to the volatility of the energy market and the decline in crude oil prices over the past few years. However, with the recovery of oil prices and the booming production from multiple oil fields, there is now a growing demand for expanding the pipeline network.
 

Investments in Exploration & Production (E&P) activities have been increasing, and the discovery of oil-rich fields worldwide. For instance, in 2019, the U.S. witnessed a significant surge in shale production, reaching a record high of over 8.4 million barrels per day, as reported by the EIA. Additionally, China has reported the discovery of new shale oil reserves in the northern Tianjin municipality.