May 04, 2020
According to the research report titled ‘Gas Pipeline Infrastructure Market Size By Application, Operation, Equipment Industry Analysis Report, Regional Outlook, Price Trends, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report LLC, worldwide gas pipeline infrastructure market is expected to generate USD 1.5 trillion by the year 2025.
Increasing production and better accessibility of offshore gas fields owing to technological advancements is driving the growth of gas pipeline infrastructure industry. Favorable government initiatives for enhancing the insufficient gas distribution & transmission infrastructure, availability of limited interstate pipeline network and increasing dependency on imported natural gas are further fueling the market expansion.
There has been an upsurge in demand for clean energy solutions across residential and commercial sectors. Swift industrialization and ongoing coal-to-gas switch are also stimulating the industry outlook. Growing preference for natural gas in power generation, chemical and manufacturing industries along with strict federal regulations towards reducing the carbon footprint are favoring the development of gas pipeline infrastructure. Focus towards establishing reliable supply and rapid expansion of gas network in order to improve the availability of gas is creating lucrative growth avenues for the overall market.
Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/568809/
Speaking of the application spectrum, offshore gas pipeline infrastructure market segment is reckoned to gain traction over the forecast period, on account of recovering oil & gas prices. Government expenditure towards development of potential gas fields in consort with favorable trade norms will stimulate expansion of gas pipeline infrastructure.
As per the regional analysis, the U.S. gas pipeline infrastructure industry is expected to register a robust growth rate through 2025. Surging investments towards development of additional pipeline network along with growing number of oil rigs and increasing E&P activities are promoting the business outlook in the U.S. Increasing shale gas production and development of new projects in Northeastern U.S. as well as in Permian Basin are supplementing the market growth.
Meanwhile, gas pipeline infrastructure market in Europe is slated to record remunerative growth through 2025. Government concerns to ensure supply security in consort with existing geopolitical sentiments are bolstering the demand for gas pipeline infrastructure in Europe. Ever-growing energy demand will create need for additional transmission pipelines for distribution of imported gas.
National Oilwell Varco, Engas, Welspun, DCP Midstream, MRC Global, Saipem, GAIL, Perusahaan Gas Negara, General Electric, Technip, Redexis, Snam Rete, APA Group, CRC Evans Pipeline, Chelpipe, Enbridge, Europipe and Gazprom are the major contenders in gas pipeline infrastructure industry.