Oil and Gas Pipeline Industry Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)


Oil and Gas Pipeline Industry:

The forecast period is expected to see a Compound Annual Growth Rate (CAGR) of over 6.5% in the oil and gas pipeline market. However, the outbreak of COVID-19 had a negative impact on the market, which has now recovered to pre-pandemic levels.

To meet the growing demand for oil and gas, pipeline capacities are being expanded and new projects are being commissioned. Additionally, the oil and gas pipeline market is being driven by an increase in offshore activities, such as deepwater and ultra-deepwater production and development. The availability of abundant natural gas reserves and its lower cost compared to other fossil fuels are also expected to contribute to the demand for natural gas in various sectors, including power generation. This, in turn, will boost the gas pipeline market during the forecast period.

However, the global shift towards renewable energy sources for electricity generation poses a significant threat to the demand for oil and gas. This shift is likely to present a major challenge for the growth of oil and gas pipeline installations in the coming years.

Notably, Russia and Pakistan have agreed to construct a new gas-carrying pipeline valued at USD 2 billion. Additionally, India and Russia have signed a deal worth USD 40 billion for natural gas exports to India. These large-scale projects are expected to drive further growth in the pipeline industry, presenting opportunities for market players in the near future.

The Asia-Pacific region is anticipated to experience substantial growth in the pipeline market due to the increasing demand for oil and gas from major countries in the region. China and India, in particular, have been the largest consumers of oil and gas in the Asia-Pacific region, and both countries are witnessing significant growth in their pipeline networks.

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