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Oil & gas infrastructure Market Size
- Report ID: GMI5274
- Published Date: Jul 2024
- Report Format: PDF
Oil & Gas Infrastructure Market Size
Oil & Gas Infrastructure Market size was valued at USD 714.4 billion in 2023 and is projected to expand at a CAGR of 6.7% between 2024 and 2032. Rising global energy demand, especially in developing regions, necessitates expanded infrastructure to maintain a steady supply. According to the U.S. Energy Information Administration, global energy consumption is projected to increase by nearly 50% by 2050. Technological advancements, such as fracking and deep-water drilling, unlock previously untapped reserves, driving infrastructure investments.
The shift towards natural gas as a cleaner energy source boosts the demand for pipelines and LNG terminals. Government policies supporting energy security and modernization are pivotal. For instance, the U.S. Department of Energy has allocated $6 billion for infrastructure upgrades. Additionally, the need to replace and enhance aging infrastructure in mature markets sustains sector investments.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Oil & Gas Infrastructure Market Size in 2023: | USD 714.4 Billion |
| Forecast Period: | 2024-2032 |
| Forecast Period 2024-2032 CAGR: | 6.7% |
| 2032 Value Projection: | USD 1.27 Trillion |
| Historical Data for: | 2021-2023 |
| No. of Pages: | 110 |
| Tables, Charts & Figures: | 20 |
| Segments covered: | Category |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Oil & Gas Infrastructure Market Scope
