Market Size of Ecuador Oil and Gas Midstream Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | > 1.03 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Ecuador Oil & Gas Midstream Market Analysis
The oil and gas midstream market is expected to register a CAGR of more than 1.03% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Presently the market has now reached pre-pandemic levels.
- Over the medium term, factors such as increasing demand for natural gas, oil and increasing production of oil in the country, and liberalization of the oil and gas industry are expected to boost the demand for the Ecuador oil and gas midstream market during the forecast period.
- On the other hand, the increase in renewable energy deployment and the volatility of crude oil prices has offset investors from making large investments in the oil and gas midstream industry. This is expected to restrain the market during the forecast period.
- Nevertheless, new pipelines are likely to be used to connect the countries like Chile, Peru, and China for the transportation of crude oil. Hence, this is expected to act as an opportunity for midstream companies in the country.
