Press Release

Midstream Oil and Gas Equipment Market to Grow with a CAGR of 6.19% through 2028

Increasing global demand for oil and gas and technological advancements are likely to drive the market in the forecast period.

 

According to TechSci Research report, “Midstream Oil and Gas Equipment Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Midstream Oil and Gas Equipment Market stood at USD 32.08 billion in 2022 and is anticipated to grow with a CAGR of 6.19% in the forecast period.Energy demand and supply dynamics represent a pivotal driver of the midstream oil and gas equipment industry. This sector is intrinsically linked to the global energy landscape, serving as the vital intermediary between upstream production and downstream consumption. As the world's population grows and economies develop, the need for reliable and efficient energy sources, particularly oil and natural gas, continues to surge. Rising energy demand is propelled by several factors, including urbanization, industrialization, and increased transportation needs. Emerging economies, in particular, heavily rely on oil and gas for their energy requirements. Simultaneously, developed nations continue to consume substantial quantities of hydrocarbons for various applications, such as electricity generation, transportation fuels, and petrochemical feedstocks. This growing appetite for energy necessitates the development and expansion of midstream infrastructure, including pipelines, storage facilities, and distribution networks. These assets ensure a steady and efficient supply of oil and gas from production sites to end-users. Therefore, energy demand and supply dynamics exert a significant influence on the midstream oil and gas equipment industry, driving investments, innovation, and strategic planning to meet evolving energy needs.

Infrastructure development and expansion represent another fundamental driver of the midstream oil and gas equipment industry. The efficient movement and storage of oil and gas are contingent on the availability and quality of midstream infrastructure, including pipelines, storage tanks, terminals, and associated equipment. As energy demand continues to rise globally, there is a compelling need to expand and upgrade existing midstream infrastructure. For instance, the shale gas revolution in the United States has spurred substantial investments in pipeline networks and processing facilities to transport and process newfound natural gas reserves. Similarly, offshore oil exploration activities necessitate investments in offshore platforms, subsea pipelines, and floating storage units to extract and transport oil from remote offshore reserves. Infrastructure development is closely tied to economic growth, energy security, and access to diverse energy sources. Governments, industry stakeholders, and investors collaborate to plan, fund, and execute large-scale midstream projects that support energy distribution, stimulate regional economies, and enhance energy security. Therefore, infrastructure development and expansion serve as a critical driver of the midstream oil and gas equipment industry, shaping its growth trajectory and long-term sustainability.     

 

Browse over XX market data Figures spread through XX Pages and an in-depth TOC on "Global Midstream Oil and Gas Equipment Market.” 

 

The Global Midstream Oil and Gas Equipment Market is segmented into type, application and region.

Based on type, The Pipes segment held the largest market share in 2022 & expected to maintain it in the forecast period. Pipelines are highly efficient and cost-effective means of transporting large volumes of oil and natural gas over long distances. They minimize the need for frequent handling, reducing labor costs, and the risk of accidents compared to alternative transportation methods such as rail or truck. Pipelines are considered one of the safest modes of transporting oil and gas. They are less susceptible to accidents, leaks, and spills compared to other transportation options, reducing environmental and safety risks. Pipelines allow for a continuous flow of oil and gas, ensuring a consistent supply to refineries, distribution centers, and export terminals. This reliability is crucial for meeting energy demands. Pipelines have a smaller carbon footprint compared to other transportation methods, as they typically require less energy and produce fewer emissions per unit of transported product. This aligns with growing environmental sustainability concerns. Pipelines are often seen as long-term infrastructure investments, providing a stable and predictable means of transporting energy resources over several decades. This makes them attractive to investors and energy companies looking for consistent returns. Pipelines have the capacity to transport large volumes of oil and gas, making them ideal for major energy production regions with substantial output. They can accommodate the demands of both domestic and international markets. In many regions, governments and regulatory bodies support the development of pipeline infrastructure due to its efficiency and safety advantages. This regulatory support can facilitate the expansion and maintenance of pipeline networks.

Based on application, The Natural Gas Processing Plant segment held the largest market share in 2022 and is projected to experience rapid growth during the forecast period. With the growth in natural gas production, driven by technologies like hydraulic fracturing (fracking) and horizontal drilling, the need for Natural Gas Processing Plants has increased. These facilities extract valuable natural gas liquids (NGLs) and remove impurities from raw natural gas, making it suitable for transportation and various end uses. Natural Gas Processing Plants recover valuable NGLs, such as ethane, propane, and butane, which have significant commercial value. These NGLs are used in various industries, including petrochemicals and as feedstocks for plastics and chemicals production. Stricter environmental regulations have led to increased demand for Natural Gas Processing Plants that can remove pollutants and reduce greenhouse gas emissions from natural gas streams. These facilities are vital for ensuring compliance with emissions reduction targets. Natural gas is considered a transitional energy source due to its lower carbon emissions compared to coal and oil. Natural Gas Processing Plants are crucial in making natural gas cleaner and more environmentally friendly, aligning with global efforts to reduce carbon emissions. Natural Gas Processing Plants are integral to liquefied natural gas (LNG) production. LNG facilities process natural gas, cool it to a liquid state, and then transport it to global markets. The demand for LNG is growing, making these processing plants essential for international energy trade.

 

Major companies operating in the Global Midstream Oil and Gas Equipment Market are:

  • Schlumberger Limited
  • Baker Hughes Company
  • Halliburton Company
  • General Electric Company
  • National Oilwell Varco Inc.
  • Tenaris S.A.
  • ABB Ltd.
  • Flowserve Corporation
  • Caterpillar Inc.
  • Emerson Electric Company

 

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“The Global Midstream Oil and Gas Equipment market is expected to rise in the upcoming years and register a significant CAGR during the forecast period. The primary driver of the global Midstream Oil and Gas Equipment market is the persistent growth in energy demand, coupled with the need for efficient energy distribution. As populations expand, industries evolve, and economies thrive, there is an ongoing surge in the requirement for reliable energy resources, notably oil and natural gas. Midstream infrastructure, including pipelines, storage facilities, and terminals, plays a pivotal role in ensuring a seamless flow of these vital resources from production hubs to end-users worldwide. To meet the ever-increasing energy needs, investments in midstream equipment and infrastructure remain robust, making energy demand and distribution the driving force behind this market. Therefore, the market of Midstream Oil and Gas Equipment is expected to boost in the upcoming years.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

Midstream Oil and Gas Equipment Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Type (Pipes, Rail Tank Cars, Gas Processing Equipment, Storage Tanks, Pumps, Valves & Compressors), By Application (Pipelines, Natural Gas Processing Plant, LNG/LPG Facilities, Crude by Rail, Others), By Region, By Competition”, has evaluated the future growth potential of Global Midstream Oil and Gas Equipment Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers make sound investment decisions., The report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global Midstream Oil and Gas Equipment Market.

 

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