Oil and Gas Infrastructure Global Market Report 2024

The global oil and gas infrastructure market has grown strongly in recent years. It will grow from $684.96 billion in 2023 to $744.86 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. Historical growth can be credited to various factors, including the increased demand for energy, accessibility to resources, market price fluctuations, modernization of infrastructure, and concerns regarding carbon emissions.

The global oil and gas infrastructure market is expected to see strong growth in the next few years. It will grow to $1032.99 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. Anticipated growth can be linked to several elements such as risk mitigation strategies, adaptability to market changes, financial and investment trends, supply chain resilience, and the integration of remote operations. Notable forecast trends involve energy demand dynamics, resource accessibility, the transition toward renewable energy, market volatility, and geopolitical factors.

The oil and gas infrastructure market is poised for growth driven by the surging demand for natural gas. As the cleanest fossil fuel, natural gas is increasingly sought after, propelling the need for expanded infrastructure to meet the escalating global demand. Notably, the U.S. Energy Information Administration reported a record-high production of annual natural gas plant liquids (NGPLs) in 2021, reaching nearly 5.40 million barrels per day, indicating the imperative to enhance infrastructure to accommodate this rising demand.

The oil and gas infrastructure market is expected to experience substantial growth due to the increasing global energy demand. This demand creates opportunities for substantial investments in infrastructure, enabling the diversification of energy sources, enhancing global energy security, supporting industrialization, and optimizing the extraction, processing, and transportation of energy resources. For instance, projections by the Energy Information Administration suggested a significant increase in energy usage within the U.S. industrial sector, estimated to rise between 5% and 32% from 2022 to 2050, underscoring the influence of growing energy needs on infrastructure development.

Technological advancements are significantly impacting the oil and gas infrastructure market. Leading companies in this sector are leveraging innovative technologies to fortify their market position. For instance, Airbus, a prominent aerospace technology company, has developed satellite-based inspection services for oil and gas infrastructure. These advanced inspection methods, utilizing satellites capable of extremely high-resolution imaging, enable thorough inspections of facilities, machinery, and pipelines, aiding in identifying potential problems that could compromise infrastructure integrity before any harm occurs.

Companies within the oil and gas infrastructure market are placing increased emphasis on product innovation to cater to customer needs effectively. This focus includes the development of intelligent architecture and Exploration & Production (E&P) solutions that integrate cutting-edge technologies and data analytics into the oil and gas industry's systems. Huawei Technologies Co. Ltd., for example, launched intelligent architecture and E&P solutions in September 2023. These solutions incorporate high-performance computing, large-scale data storage, and AI models for exploration, optimizing the research and development processes for oil and gas companies through advanced technologies such as cloud computing and AI.

In February 2022, Enterprise Products Partners L.P., a US-based midstream natural gas and crude oil pipeline company, completed the acquisition of Navitas Midstream Partners for a deal worth $3.25 billion. This strategic move bolstered Enterprise Products Partners L.P.'s market presence, enhancing its footprint through the addition of Navitas Midstream's assets. Navitas Midstream contributed substantial infrastructure, including 1,750 miles of pipelines and a daily processing capacity exceeding 1 billion cubic feet of cryogenic natural gas. Navitas Midstream Partners operates within the oil and gas infrastructure sector.

Major companies operating in the oil and gas infrastructure market report are NGL Energy Partners LP, Centrica PLC, Kinder Morgan Inc., Schlumberger Limited, Royal Vopak NV, Shell PLC, Exxon Mobil Corporation, Baker Hughes Company, Chevron Corporation, TotalEnergies SE, ConocoPhillips Company, British Petroleum PLC, Energy Transfer LP, Marathon Oil Corporation, Occidental Petroleum Corporation, Hatch Ltd., Aker Solutions ASA, Subsea 7 S.A., Saipem S.p.A., Fluor Corporation, KBR Inc., WorleyParsons Limited, Bechtel Corporation, CH2M Hill Companies Ltd., SNC-Lavalin Group Inc., Petrofac Limited, Chicago Bridge & Iron Company N.V., Shawcor Ltd., The Shaw Group Inc., Foster Wheeler AG

Europe was the largest region in the oil and gas infrastructure market in 2023. The regions covered in the oil and gas infrastructure market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the oil and gas infrastructure market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Oil and gas infrastructure can be categorized into several key segments, including surface and lease equipment, gathering and processing facilities, pipelines for oil, gas, and natural gas liquids (NGL), storage facilities, refining plants, transport for oil products, and export terminals. Surface equipment encompasses the contractor's non-classified equipment, encompassing both above and below-water Dynamic Positioning (DP) equipment that isn't specifically considered Subsea Equipment. These operations encompass transmission and distribution activities deployed both onshore and offshore.

This report provides oil and gas infrastructure market statistics, including oil and gas infrastructure industry global market size, regional shares, competitors with an oil and gas infrastructure market share, detailed oil and gas infrastructure market segments, market trends and opportunities, and any further data you may need to thrive in the oil and gas infrastructure industry. This oil and gas infrastructure 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.

The oil and gas infrastructure market consists of sales of oil and gas-related products. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

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.


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