PUBLISHER: The Business Research Company | PRODUCT CODE: 1409649
PUBLISHER: The Business Research Company | PRODUCT CODE: 1409649
“Oil And Gas Pipeline And Related Structures Construction Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on oil and gas pipeline and related structures construction market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for oil and gas pipeline and related structures construction? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The oil and gas pipeline and related structures construction market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The construction of oil and gas pipelines and related structures involves the establishment of businesses dedicated to building pipelines, mains, refineries, and storage facilities within the oil and gas industry. This encompasses activities such as new development, renovation, repair, and rehabilitation of oil and gas pipelines.
The primary types of construction within this domain are crude oil pipelines and natural gas pipelines. Crude oil pipelines specifically pertain to production pipelines carrying crude oil with either very high pour points (where the liquid loses its ability to flow) or high wax levels. The various sectors involved include upstream, midstream, and downstream applications, and these constructions find use in both onshore and offshore settings.
The oil and gas pipeline and related structures construction market research report is one of a series of new reports from The Business Research Company that provides oil and gas pipeline and related structures construction market statistics, including oil and gas pipeline and related structures construction industry global market size, regional shares, competitors with an oil and gas pipeline and related structures construction market share, detailed oil and gas pipeline and related structures construction market segments, market trends and opportunities, and any further data you may need to thrive in the oil and gas pipeline and related structures construction industry. This oil and gas pipeline and related structures construction market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The oil and gas pipeline and related structures construction market size has grown steadily in recent years. It will grow from $245.94 billion in 2023 to $253.51 billion in 2024 at a compound annual growth rate (CAGR) of 3.1%. The growth observed in the historical period can be attributed to factors such as the increasing demand for energy, infrastructure development projects, the expansion of oil and gas exploration, economic growth and industrialization, and government initiatives and policies.
The oil and gas pipeline and related structures construction market size is expected to see steady growth in the next few years. It will grow to $290.51 billion in 2028 at a compound annual growth rate (CAGR) of 3.5%. The anticipated growth in the forecast period can be attributed to factors such as sustained growth in energy demand, the integration of renewable energy, ongoing modernization and replacement projects, geopolitical considerations, and a focus on diversifying energy sources. Noteworthy trends in this period encompass the evaluation of geopolitical stability and risks, the emphasis on resilient supply chain management, a focus on safety in construction practices, increased investment in LNG infrastructure, and the adoption of digital transformation in project management and execution.
The anticipated rise in the demand for natural gas is expected to drive the growth of the oil and gas pipeline and related structures construction market. Natural gas, primarily composed of methane along with trace amounts of other gases, serves as an energy source. The increased demand for natural gas leads to a heightened need for gas transmission pipelines, crucial for the safe transportation and delivery of natural gas. In February 2023, the Energy Information Administration (EIA) reported that US natural gas consumption reached 88.5 Bcf/d (billion cubic feet per day) in 2022, marking a 5.4% increase compared to 84.0 Bcf/d in 2021. Additionally, total natural gas imports reached 8.3 Bcf/d in 2022, up from 7.7 Bcf/d in 2021. Thus, the escalating demand for natural gas is a key driver propelling the growth of the oil and gas pipeline and related structures construction market.
The expected growth in infrastructure investment is poised to contribute to the expansion of the oil and gas pipeline and related structures construction market. Infrastructure encompasses fundamental facilities and systems necessary for the proper functioning of regions, countries, or organizations, including transportation, communication, energy, and public institutions. The construction of oil and gas pipelines enhances infrastructure by facilitating the transportation and distribution of energy resources. Statistics Canada reported in February 2023 that in 2021, capital expenditures on Canadian infrastructure increased by $5.7 billion, representing a 5.6% growth, reaching a total of $108.1 billion. Growth was observed across 13 out of 16 infrastructure functions. Hence, the increasing investment in infrastructure serves as a driving force for the oil and gas pipeline and related structures construction market.
Technological innovation and advancement emerge as significant trends gaining traction in the oil and gas pipeline and related structures construction market. Companies in this sector are adopting new technologies to maintain their competitive positions. For instance, in January 2022, PGNiG, a Poland-based oil and gas company, implemented a technologically innovative gas pipeline on the Norwegian Continental Shelf using electrically heat-traced flowline technology (EHTF). This groundbreaking installation, known for its electrically heat-traced flowline technology, connects remote fields to existing production infrastructure at a lower cost and reduces the overall carbon footprint associated with exploitation.
Major companies operating in the oil and gas pipeline and related structures construction market are focusing on innovative solutions, such as electro-hydraulic actuators, to revolutionize pipeline operations. An Electro-Hydraulic Actuator converts electrical energy into mechanical motion using hydraulic pressure. For instance, in August 2023, Automation Technology, Inc., a US-based provider of valve automation solutions, introduced a Zero Emission Electro-Hydraulic actuator solution. This aims to eliminate the carbon footprint linked with pipeline operations, offering a comprehensive solution to reduce emissions without relying on pipeline gas as the primary power source. This innovative solution contributes to zero methane and VOC emissions for emergency shutdown valves.
In July 2021, Artera Services, a US-based provider of outsourced services for electric and natural gas infrastructure, acquired K.R. Swerdfeger Construction Inc. (KRSC) for an undisclosed amount. This strategic acquisition is expected to enhance Artera's water and wastewater service offerings while expanding its primary gas distribution services into Colorado and New Mexico. K.R. Swerdfeger Construction Inc. is a US-based company providing services for site work construction, heavy industry, gas, and power.
Major companies operating in the oil and gas pipeline and related structures construction market report are Larsen & Toubro Limited, Sunland Construction Inc., Barnard Construction Inc., Bechtel Corporation, Ledcor Group, Gateway Pipeline LLC, Pumpco Inc., Shengli Oil & Gas Pipe Holdings Limited, Snelson Companies Inc., Tenaris S.A., Bonatti S.p.A., MasTec Canada Inc., Fluor Corporation, KAD Construction LLC, McDermott International Ltd., Kinder Morgan Inc., Pembina Pipeline Corporation, Joint Stock Company Transneft, Primoris Services Corporation, Spiecapag UK Ltd., TC Energy Corporation, TechnipFMC plc, Ray McDermott Engineering Pvt. Ltd., Amec Foster Wheeler, Saipem S.p.A., Willbros Group Inc., Michels Corporation, Quanta Services Inc., Strike LLC, Welded Construction L.P., Henkels & McCoy Inc., Mears Group Inc., Precision Pipeline LLC, Price Gregory International Inc., U.S. Pipeline Inc., Arnett & Burgess Pipeliners Ltd., Blackeagle Energy Services, Cenergy LLC, Cross Country Pipeline Supply Co. Inc., Global Pipeline Construction Ltd., Miller Pipeline LLC, NPL Construction Co., PCL Construction Enterprises Inc
North America was the largest region in the oil and gas pipeline and related structures construction market in 2023. The regions covered in the oil and gas pipeline and related structures construction market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the oil and gas pipeline and related structures construction market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The oil and gas pipeline and related structures construction market includes revenues earned by constructing additional oil and gas pipelines and alterations, and new pipelines. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.