Market Size of Oil and Gas Pipeline Fabrication and Construction Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 3.50 % |
| Fastest Growing Market | Middle East and Africa |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Oil and Gas Pipeline Fabrication and Construction Market Analysis
The oil and gas pipeline fabrication and construction market is projected to register a CAGR of over 3.5% during the forecast period.
The market was negatively impacted by the COVID-19 pandemic. However, the market has now reached pre-pandemic levels.
The natural gas pipeline network is expected to grow parallel to the increasing natural gas demand, which is expected to boost the global oil and gas pipeline fabrication and construction market's growth during the forecast period.
However, delay in pipeline projects due to land and border disputes across several countries is anticipated to hinder the market's growth during the forecast period.
Nevertheless, pipeline expansion projects and new gas pipeline projects are expected to create tremendous business opportunities for the oil and gas pipeline fabrication and construction market in the coming years.
North America is one of the major demand centers for the oil and gas pipeline fabrication and construction market, with the United States being the major hotspot.
Oil and Gas Pipeline Fabrication and Construction Industry Segmentation
Economic development depends on pipelines and pipes, and they also hold strategic importance for all countries. Pipelines are constructed to transport crude oil, refined petroleum, natural gas, biofuels, and other fuels. These liquid and gaseous substances are necessary to maintain human life, economic growth, industrial production, construction, infrastructure, and energy security.
The oil and gas pipeline fabrication and construction market is segmented by application and geography. By application, the market is segmented into oil and gas. The report also covers the market size and forecasts for the oil and gas fabrication and construction market across major regions. For each segment, the market sizing and forecasts have been done based on revenue (USD billion).
| By Application | |
| Oil | |
| Gas |
| By Geography | |
| North America | |
| Europe | |
| Asia-Pacific | |
| South America | |
| Middle East and Africa |
Oil and Gas Pipeline Fabrication and Construction Market Size Summary
The oil and gas pipeline fabrication and construction market is poised for growth, driven by the increasing demand for natural gas and the expansion of pipeline infrastructure globally. The market, which experienced setbacks due to the COVID-19 pandemic, has rebounded to pre-pandemic levels. The rising demand for natural gas, coupled with its growing share in the global energy mix, is expected to be a significant driver for the market's expansion. This shift is prompting substantial investments in natural gas pipeline networks, including liquefied natural gas (LNG) infrastructure, such as liquefaction and regasification terminals. However, the market faces challenges, including delays in pipeline projects due to land and border disputes in various regions, which could impede growth. Despite these challenges, new pipeline projects and expansions are anticipated to offer significant business opportunities in the coming years.
North America emerges as a key demand center for the oil and gas pipeline fabrication and construction market, with the United States playing a pivotal role. The region's robust oil and gas infrastructure development, particularly in natural gas pipelines, aligns with the global trend towards cleaner energy sources. The United States, along with Canada and Mexico, is at the forefront of this development, with numerous projects underway to enhance pipeline capacity and connectivity. The market is characterized by fragmentation, with several key players actively involved in various projects worldwide. Notable initiatives include TC Energy's offshore Southeast Gateway pipeline project in Mexico and Italgas's investment in upgrading Italy's gas grid. These developments underscore the market's potential for growth, driven by strategic investments and a shift towards natural gas as a primary energy source.
Oil and Gas Pipeline Fabrication and Construction 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 Market Size and Demand Forecast in USD billion, till 2027
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 Porter's Five Forces Analysis
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1.7.1 Bargaining Power of Suppliers
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1.7.2 Bargaining Power of Consumers
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1.7.3 Threat of New Entrants
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1.7.4 Threat of Substitutes Products and Services
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1.7.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Application
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2.1.1 Oil
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2.1.2 Gas
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2.2 By Geography
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2.2.1 North America
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2.2.2 Europe
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2.2.3 Asia-Pacific
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2.2.4 South America
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2.2.5 Middle East and Africa
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Oil and Gas Pipeline Fabrication and Construction Market Size FAQs
What is the current Oil and Gas Pipeline Fabrication and Construction Market size?
The Oil and Gas Pipeline Fabrication and Construction Market is projected to register a CAGR of greater than 3.5% during the forecast period (2024-2029)
Who are the key players in Oil and Gas Pipeline Fabrication and Construction Market?
Snelson Companies Inc., Bechtel Corporation, Pumpco Inc., Barnard Construction Company, Inc. and Larsen & Toubro Limited are the major companies operating in the Oil and Gas Pipeline Fabrication and Construction Market.
