Market Size of Canada Oil and Gas Midstream Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 2.50 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Canada Oil and Gas Midstream Market Analysis
The market for Canadian oil and gas midstream is expected to register a CAGR of more than 2.5% during the forecast period, 2022-2027. The Canadian oil and gas midstream market was fairly unaffected by the COVID-19 pandemic since the constant usage of storage facilities for storing hydrocarbons, usage of pipelines for fuel transportation, and resilient demand for LNG in 2020 increased the demand for midstream services in the country amid pandemic. Factors such as increasing investments in the pipeline sector and increasing production and consumption of oil and gas are expected to boost the demand for the Canada oil and gas midstream market during the forecast period. Upcoming LNG terminal projects are also expected to drive market growth. However, the high volatility of crude oil prices, coupled with a drop in consumption, is expected to hinder the Canadian oil and gas midstream market during the forecast period.
- The transportation segment is expected to dominate the Canadian oil and gas midstream market during the forecast period, owing to the upcoming pipeline projects (which are in the construction phase).
- Increasing investments and development of complex offshore fields are expected to increase the demand for midstream services. Therefore, this factor is expected to provide a great opportunity for the Canadian oil and gas midstream sector during the forecast period.
- The increasing gas pipeline network is expected to drive the growth of the Canadian oil and gas midstream market significantly during the forecast period.
