Market Size of Oil and Gas Midstream Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 1.90 % |
| Fastest Growing Market | South America |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Oil and Gas Midstream Market Analysis
The global operating oil and gas pipeline length was estimated to be around 2079.72 thousand km in 2020, which is expected to reach 2400 thousand km by the end of 2027, registering a CAGR of about 1.9% during the forecast period of 2022-2027. The oil and gas midstream 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 kept the demand for midstream services normalized. Factors such as increasing production and consumption of natural gas and refined petroleum products are expected to boost the demand for pipeline services in the coming years and are likely to drive the oil & gas midstream market during the forecast period. However, environmental concerns regarding new pipelines and transportation infrastructure are likely to restrain the growth of the oil & gas midstream market in the coming years.
- The transportation segment is likely to dominate the market during the forecast period due to the increasing demand for refined products.
- Increasing investments and development of small and complex offshore fields in different regions are expected to increase the demand for midstream services. Therefore, this is expected to provide a great opportunity for the midstream sector during the forecast period.
- South America is expected to be the fastest-growing market during the forecast period, mainly due to the growing demand for LNG in countries like Chile, Brazil, and Argentina.
