Europe Oil & Gas Infrastructure Market
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The Europe oil & gas infrastructure market size was anticipated at USD 115.5 billion in 2024 and is expected to witness a CAGR of 6.1% through 2034. Businesses are investing considerable resources in carbon capture, utilization, and storage technologies (CCUS), as well as hydrogen technologies. These investments go hand in hand with the growth in energy needs and emissions reduction. This is in step with broader decarbonization objectives within Europe as the continent endeavors to reach net-zero ambitions. Mergers and acquisitions in the Europe oil and gas sector are on the rise. There is an emphasis on investment portfolios that are compatible with both established and new energy markets.
Europe is now depending on natural gas as a transition fuel since the invasion of Ukraine, which has strained the energy supply in Europe after the onset of the war. This has resulted in an increase in demand for gas pipelines, LNG storage, and terminals. Companies are utilizing sophisticated technologies such as AI and real-time data analytics to enhance business processes, which helps to reduce costs as well as improve efficiency with exploration, production, and maintenance.
| Report Attribute | Details |
|---|---|
| Base Year: | 2024 |
| Europe Oil & Gas Infrastructure Market Size in 2024: | USD 115.5 Billion |
| Forecast Period: | 2025 to 2034 |
| Forecast Period 2023 - 2032 CAGR: | 6.1 |
| 2023 Value Projection: | USD 208.7 Billion |
| Historical Data for: | 2021 – 2024 |
| No of Pages: | 80 |
| Tables, Charts & Figures: | 20 |
| Segments Covered: | Category |
| Growth Drivers: |
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| Pitfalls Challenges: |
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Other than the focus on the reserve base, there is a lot of attention directed towards the growing investment for decarbonization as part of European Union’s net-zero emissions target, such as carbon capture, utilization and storage (CCUS), and hydrogen. This trend is likely to pick up speed, aided by government policies such as environmental compliance, carbon pricing, and its ripple effects in other regions like the UK and France. Other companies are looking into green hydrogen as a possible low carbon energy source for storing or as a medium for moving energy.
The surface and lease equipment segment is expected to experience brisk growth with a projected compound annual growth rate (CAGR) of more than 5.4% up to 2034, due to the demand for energy supply security after the Ukraine-Russia war, which restructured investment and development priorities. Furthermore, the decarbonization and energy transition technologies are strengthening the need for more sustainable equipment. This also lowers costs and increases production uptime, alongside advancements in automation, digitalization, and other efficiency driven technologies – which, in turn, increases operational effectiveness.
The UK oil & gas infrastructure market is anticipated to reach USD 20.9 billion by 2034. Over the UK’s oil and gas infrastructure market is undergoing substantial changes as a result of the combination of energy transition, innovation, and new regulations. In the offshore and onshore upstream industry, new and old platforms installation, maintenance, and production face stricter supply and demand humanitarian market challenges, aging tools decommissioning, and emission regulations.
Even though the focus of the midstream sector which includes pipelines and storage is on traditional fuels, much-needed changes are underway to adapt to the new climate norms and accommodate new sources of green energy. Significant demand in the downstream sector particularly in the transport and industrial energy. Advanced technologies are being adopted by companies like BP, Shell and TotalEnergies, which are essential for sustaining a competitive edge and climate goals.
Baker Hughes Company is one of the major player within the Europe oil and gas infrastructure industry. Among the many offerings and activities that Baker Hughes provides, the company is engaged in exploration, production, energy management which enables operators to improve effectiveness and responsible practices in all their activities.
Some of the key players operating across the Europe oil & gas infrastructure industry are:
Market, By Category
The above information has been provided for the following countries:
The surface and lease equipment segment is projected to witness a growth rate exceeding 5.4% through 2034, led by increased investment in exploration and production due to geopolitical shifts and the push for decarbonization.
The UK oil & gas infrastructure market is projected to surpass USD 20.9 billion by 2034, proplled by innovation, regulatory shifts, and the ongoing energy transition.
The European market for oil & gas infrastructure was reached USD 115.5 billion in 2024 and is expected to grow at a 6.1% CAGR from 2025 to 2034, driven by investments in carbon capture, utilization, and storage (CCUS) and hydrogen technologies.
Key players in the Europe oil & gas infrastructure market include BP p.l.c., Baker Hughes Company, Centrica plc, Chevron Corporation, ConocoPhillips Company, Exxon Mobil Corporation, Halliburton, Hatch Ltd., Royal Vopak, Shell, SLB, and TotalEnergies.