Market Size of United States 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 | > 4.15 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Oil and Gas Midstream Market Analysis
The US oil and gas midstream market is expected to register a CAGR of more than 4.15% during the forecast period of 2022-2027. The United States 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 United States oil and gas midstream market during the forecast period. Additionally, 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 US oil and gas midstream market during the forecast period.
- The transportation segment is expected to dominate the United States oil and gas midstream market during the forecast period, owing to the upcoming pipeline projects.
- 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 US oil and gas midstream sector during the forecast period.
- An increasing gas pipeline network is expected to drive the growth of the US oil and gas midstream market significantly during the forecast period.
