Oil And Gas Pipeline And Related Structures Construction Global Market Report 2023
Major players in the oil and gas pipeline and related structures construction market are Larsen & Toubro Limited, Sunland Construction Inc., Barnard Construction Inc., Bechtel Corporation, Ledcor Group, Gateway Pipeline LLC, Pumpco Inc.
New York, June 06, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Oil And Gas Pipeline And Related Structures Construction Global Market Report 2023" - https://www.reportlinker.com/p06464126/?utm_source=GNW
, Shengli Oil & Gas Pipe Holdings Limited, Snelson Companies Inc., Tenaris S.A., Bonatti, MasTec, Fluor Corporation, KAD Construction LLC, and McDermott International Ltd.
The global oil and gas pipeline and related structures construction market is expected to grow from $234.55 billion in 2022 to $244.25 billion in 2023 at a compound annual growth rate (CAGR) of 4.1%.The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The oil and gas pipeline and related structures construction market is expected to reach $273.17 billion in 2027 at a CAGR of 2.8%.
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.
Oil and gas pipeline and related structures construction refer to the building of oil and gas pipelines, mains, refineries, and storage facilities businesses. It mainly consists of new development, renovation, repair, and rehabilitation of oil and gas pipelines.
North America was the largest region in the oil and gas pipeline and related structures construction market in 2022. 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 and Africa.
The main types of oil and gas pipelines and related structures construction are crude oil pipelines and natural gas pipelines.Crude oil pipeline refers to the unique production pipelines that carry crude oil that either have very high pour points (at the point of pouring, liquid loses its ability to flow) or has high wax levels.
The various sector includes upstream, midstream, and downstream. These are used in various applications such as onshore, and offshore.
Increasing demand for natural gas is expected to propel the growth of the oil and gas pipeline and related structures construction market going forward.Natural gas refers to the energy source, that is entirely made up of the gas methane however it also contains trace amounts of ethane, propane, butane, and pentane.
The increasing natural gas increases the demand for gas transmission pipelines, which transport and delivers natural gas generated safely. For instance, in February 2023, the Energy Information Administration (EIA), a US-based, government administration, statistical and analytical agency, the US natural gas consumption reached 88.5 Bcf/d (billion cubic feet per day) in 2022, a 5.4% high, compared to 84.0 Bcf/d in 2021, however, the total imports of natural gas reached 8.3 Bcf/d in 2022, from 7.7 Bcf/d in 2021. Therefore, the increasing demand for natural gas is driving the growth of the oil and gas pipeline and related structures construction market.
Technological innovation and advancement are key trends gaining popularity in the oil and gas pipeline and related structures construction market.Companies operating in the oil and gas pipeline and related structures construction market are adopting new technologies to sustain their position in the market.
For instance, in January 2022, PGNiG, a Poland-based oil and gas company installed a technologically innovative gas pipeline on the Norwegian Continental Shelf based on electrically heat-traced flowline technology (EHTF). This is the longest pipeline installation that connects remote fields to existing production infrastructure with low-cost and also reduces the total carbon footprint associated with their exploitation.
In July 2021, Artera Services, a US-based provider of outsourced services for the maintenance, repair, and installation of electric and natural gas infrastructure, acquired K.R. Swerdfeger Construction Inc. (KRSC) for an undisclosed amount. The acquisition of KRSC is anticipated to boost Artera’s current 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 that provides services for site work construction, heavy industry, gas, and power.
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.
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.
The oil and gas pipeline and related structures construction market research report is one of a series of new reports 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 deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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