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 |
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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.
Canada Oil and Gas Midstream Industry Segmentation
The Canadian oil and gas midstream market report includes:
Canada Oil and Gas Midstream Market Size Summary
The Canadian oil and gas midstream market is poised for growth, driven by increasing investments in pipeline infrastructure and a rising demand for midstream services. The market remained resilient during the COVID-19 pandemic, with steady demand for storage and transportation services. The transportation segment is expected to lead the market expansion, supported by numerous pipeline projects currently under construction. The development of complex offshore fields and an expanding gas pipeline network are anticipated to further bolster the sector. However, challenges such as crude oil price volatility and fluctuating consumption levels may pose obstacles to sustained growth.
Western Canada stands out as the largest market due to its extensive pipeline network, with a notable shift towards natural gas pipelines amid regulatory and social challenges surrounding crude oil transportation. Significant projects, such as the development of a new pipeline to support LNG exports and the Trans Mountain Pipeline Expansion, are set to create substantial opportunities for midstream services. The market is moderately fragmented, with key players like Baker Hughes Company and Tenaris SA actively participating. Despite some funding challenges, the overall outlook for the Canadian oil and gas midstream market remains positive, with promising growth prospects in the coming years.
Canada Oil and Gas Midstream Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Oil and Gas Operating Pipeline Length Forecast (in km), Canada, till 2027
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1.3 Oil Production and Consumption Trend in thousand barrels per day, Canada, 2010-2020
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1.4 Gas Production and Consumption Trend in billion cubic feet per day (bcf/d), Canada, 2010-2020
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1.5 Government Policies and Regulations
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1.6 Recent Trends and Developments
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1.7 Market Dynamics
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1.7.1 Drivers
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1.7.2 Restraints
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1.8 Supply Chain Analysis
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1.9 PESTLE Analysis
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2. MARKET SEGMENTATION
Canada Oil and Gas Midstream Market Size FAQs
What is the current Canada Oil and Gas Midstream Market size?
The Canada Oil and Gas Midstream Market is projected to register a CAGR of greater than 2.5% during the forecast period (2024-2029)
Who are the key players in Canada Oil and Gas Midstream Market?
Mistras Group Inc., Trican Well Services Ltd., Baker Hughes Company, Tetra Tech, Inc. and Tenaris S.A. are the major companies operating in the Canada Oil and Gas Midstream Market.
