Oil & Gas Infrastructure Market size is estimated to cross USD 1,115 billion by 2030, according to a new research report by Global Market Insights Inc.
The market growth is credited to the surging spending toward gas-based infrastructure along with shifting focus toward development of unconventional reserves. Increasing development of the refineries, replacement, renovation, overhaul, and improvement of the pipelines network across the world will energize the market dynamics. The capacity of the NGL to supply various end use products including detergent, plastics, LPG, synthetic rubber, home heating, solvents and gasoline will influence the infrastructure investment.
Robust expansion of the export terminal for easy transportation of the business
The export terminal oil & gas infrastructure market is poised to register 120 billion by 2030. The rising LNG trade due to the shifting trends toward the gas-powered generation plants will foster the investment opportunities across the export terminal. For instance, Iraq has announced to develop its associated gas infrastructure where it will support the domestic power industry and strengthen the export facility of LNG through a floating liquefaction facility in Basra.
The growing construction spending on refineries and technological advancement across infrastructure establishment will boost the industry growth. Ongoing upgradation of the existing pipeline network to provide effective infrastructure for natural gas and crude oil in line with the deployment offshore oil platforms will stimulate the business landscape. Accelerating investment for efficient & reliable development of resources coupled with the upsurge in spending to enhance the productivity of wells will positively impact the industry outlook.
The COVID- 19 pandemic has influenced the industry share because of the shutdown of major investment projects worldwide. The industry has witnessed significant decline in investments across exploration and production, pipeline infrastructure, transportation of crude and natural gas. However, post covid the sector is regaining its lost strength with investments across key infrastructure projects including development of storage projects, pipeline infrastructure and exploration activities gradually witnessing an increase.
Browse key industry insights spread across 215 pages with 223 market data tables & 36 figures & charts from the report, “Oil & Gas Infrastructure Market Size By Category (Surface and Lease Equipment, Gathering & Processing, Oil, Gas & NGL Pipelines, Oil & Gas Storage, Refining & Oil Products Transport, Export Terminals), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2030”, in detail along with the table of contents:
Increasing investment across the North America region
North America oil & gas infrastructure market is predicted to observe a 6.5% growth rate till 2030. The investment toward the expansion of pipeline network and terminals together with the ongoing deployment of new refinery focusing on the natural gas liquid, liquified petroleum gas, and other petroleum products will provide favourable opportunity for the market expansion.
Growing investments across the oil sands and unconventional shale plays across Alberta will foster the Canada market statistics. Moreover, rising demand for natural gas and long-term natural trade contracts has driven the producers in Canada, British Columbia for speeding up the investment toward new exploration site.
Major oil & gas infrastructure market players include Centrica plc, Schlumberger Limited, Kinder Morgan, Royal Vopak, Baker Hughes, Exxon Mobil Corporation, Shell, TotalEnergies, BP p.l.c., Chevron Corporation, ConocoPhillips Company, Energy Transfer LP, Occidental Petroleum Corporation, Marathon Oil Company, Hatch Ltd., Enterprise Products Partners L.P., WILLIAMS, ONEOK, Inc., NGL Energy Partners LP and Halliburton.
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