Market Size of Onshore Oil and Gas Pipeline Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Onshore Oil and Gas Pipeline Market Analysis
The onshore oil and gas pipeline market is expected to register a CAGR of more than 5% during the forecast period, 2022 -2027. The oil and gas market is one of the worst-hit industries during the COVID-19 pandemic. Pipeline projects witnessed delays due to imposed lockdown restrictions in major countries like the United States and India. The decreased gas demand due to the decline in electricity consumption and travel restrictions also negatively affected gas consumption in several countries. However, with the ease in lockdowns, burgeoning demand in 2021-2022, and in a bid to meet the rising oil and gas consumption, the pipeline capacities are being expanded with new pipeline projects being commissioned. These developments are driving the onshore oil and gas pipeline market. However, the global shift toward renewable sources for electricity generation poses a huge threat to the oil and gas demand, which is likely to be a major challenge for the growth of onshore oil and gas pipeline installations during the forecast period.
- The availability of abundant natural gas reserves and the lower cost compared to other fossil fuel types are expected to supplement the demand for natural gas from multiple end-users, including power generation. This, in turn, is expected to boost the gas pipeline segment during the forecast period.
- The rise in onshore exploration and production projects is expected to create excellent opportunities for the market players in the years to come, as these projects are paving the way for the pipeline industry to grow more.
- Asia-Pacific is expected to witness significant growth during the forecast period, with the majority of the demand coming from countries like China, India, etc.
