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August 2025
The global oil & gas infrastructure market size was reached at USD 752.19 billion in 2024 and is expected to be worth around USD 1,377.87 billion by 2034, growing at a compound annual growth rate (CAGR) of 6.24% over the forecast period 2025 to 2034. The sudden updation of the traditional infrastructure to technologically advanced infrastructure has accelerated industry potential in recent years.
Exploring the Backbone of Energy: Inside the Oil & Gas Infrastructure Market
The oil & gas infrastructure market encompasses the physical facilities and systems required for the exploration, production, transportation, processing, storage, and distribution of oil and natural gas. This includes upstream infrastructure (like drilling rigs and production platforms), midstream infrastructure (such as pipelines, storage terminals, and LNG facilities), and downstream facilities (refineries, petrochemical plants, and retail distribution networks). With rising global energy demand, technological advancements, and the transition toward cleaner fuels, this market plays a critical role in ensuring supply chain resilience, energy security, and economic development.
The increased need for energy worldwide due to the sudden expansion of the heavy manufacturing infrastructure has spearheaded the industry's growth in recent years. Moreover, several developed countries have been actively seeking massive energy sources akin to their established, huge, and advanced infrastructure in recent years. Furthermore, these energy demands are actively creating the need for the oil and gas infrastructure for transportation of these oil and gas, where the pipelines, refineries, and storage tanks are expected to play a major role in the upcoming years.
| Report Attribute | Details |
| Market Size in 2025 | 799.13 USD Billion |
| Expected Size by 2034 | 1,377.87 USD Billion |
| Growth Rate from 2025 to 2034 | 6.24% CAGR |
| Base Year of Estimation | 2024 |
| Forecast Period | 2025 - 2034 |
| Dominant Region | North America |
| Segment Covered | By Sector, By Infrastructure Type, By Material Type (For Pipeline & Facility Construction),By Fuel Type, By Ownership/Operator,By End-Use Application, By Region |
| Key Companies Profiled | Kinder Morgan Inc., Enbridge Inc. , TransCanada Corporation (TC Energy), Saudi Aramco , Gazprom , Shell Plc , ExxonMobil Corporation , Chevron Corporation , TotalEnergies SE , BP Plc , Cheniere Energy Inc. , Fluor Corporation , Bechtel Corporation , Technip Energies , Petrofac Ltd. |
Developed Nations Seek Smart Solutions Amid Energy Infrastructure Revamps
The growing need for oil and gas infrastructure modification in developed countries is expected to create lucrative opportunities for manufacturers during the forecast period. Several regions are seeking modern infrastructure as the need for energy has increased in recent years. As the manufacturers have a greater opportunity to offer technologically advanced infrastructure, such as pipelines, refineries, and LNG systems, in the upcoming years
High Installation Expenses Pose a Barrier to Industry Expansion
The high cost of the installation of modern oil and gas infrastructure is expected to hinder industry growth in the coming years. Moreover, these refineries need heavy upfront investment, which can create cost barriers for the new entrants and mid-sized businesses that have investment limits during the projected period.
How did the Midstream Segment Dominate the Oil & Gas Infrastructure Market in 2024?
The midstream segment held the largest share of the market in 2024, due to a sudden increase in the need for processing of oil and gas, transportation, and storage globally. Furthermore, the many countries’ energy demand has increased in recent years, and countries are actively investing in the mid streams than just drilling, which is likely to create huge opportunities for the segment in the upcoming years.
The upstream segment is expected to grow at a notable rate during the predicted timeframe, akin to increased discoveries of new basins and untapped reserves in the past few years. Several countries are seen under the heavy investment in deep-sea and offshore exploration, which is anticipated to expand the segment growth in the upcoming years. Moreover, technological advancement can play a major role in these developments in the upcoming years.
Why does the Pipeline Segment Dominate the Oil & Gas Infrastructure Market by Infrastructure Type?
The pipeline segment held the largest share of the oil & gas infrastructure market in 2024, due to the increasing need for a cost-effective and efficient way to transport heavy volumes of oil and gas globally. Moreover, several countries are actively developing the pipeline infrastructure in their region for the usage of the domestic distribution of oil and gas, as well as the international export.
The LNG terminals segment is expected to grow at a notable rate due to a sudden global shift towards cleaner energy solutions in recent years. Furthermore, several global economies are actively trying to reduce their reliance on coal and oil use in recent years, where natural gas has emerged as the ideal option for them to power generation and heating. These initiatives are likely to drive the growth of the segment in the upcoming years, as per the recent observation.
Why Did the Crude Oil Segment Dominate the Oil & Gas Infrastructure Market in 2024?
The crude oil segment dominated the market with the largest share in 2024, due to its being commonly considered as the ideal fuel option. Also, the sectors such as transportation, manufacturing, and power are actively contributing to the segment growth as they are the main consumers of crude oil in recent years. Moreover, having properties such as being easy to store, refine, and transport, crude oil has gained immense industry attention in recent years.
The natural gas and LNG segments are expected to grow at a notable rate in the coming years due to increased demand for the cleaner fuel option globally. Moreover, several countries are actively replacing their traditional fuels with LNG, akin to increased sustainability initiatives and reduction of carbon emissions globally, as per the recent industry observation. These factors can drive the segment growth in the upcoming years
How did the Carbon Steel Segment Dominate the Oil & Gas Infrastructure Market in 2024?
The carbon steel segment held the largest share of the oil & gas infrastructure market in 2024, because it is strong, durable, and cost-effective. It's widely used in pipelines, tanks, and structural components. Carbon steel can handle high pressure and temperature, making it ideal for oil and gas transport and storage. It's also easy to weld and fabricate, which speeds up construction. Although it can corrode over time, protective coatings help extend its lifespan. Because of its balance between strength, availability, and affordability, carbon steel has remained the preferred material across most oil and gas projects.
The composite & thermoplastic manufacturing segment is expected to grow at a notable rate due to its lightweight, corrosion resistance, and long service life. Unlike carbon steel, they don't rust, making them ideal for offshore and harsh environments. These materials are also easier to install and maintain, saving time and money in the long run. As the industry pushes for lower maintenance and higher efficiency, especially in new LNG and gas infrastructure, composite pipes and thermoplastics are being adopted. Their use will expand in regions focused on clean energy, offshore gas, and advanced storage systems.
How did NOC’s Segment Dominate the Oil & Gas Infrastructure Market in 2024?
NOC’s segment dominated the market with the largest share in 2024 because it controls most of the world's oil and gas reserves, especially in regions like the Middle East, Africa, and parts of Asia. These government-backed firms invest heavily in infrastructure to support national energy goals and export strategies.
The EPC firms segment is expected to grow at a significant rate due to the growing trend of outsourcing. Many oil and gas companies now prefer to hire specialized EPC firms to handle large infrastructure projects from start to finish. This helps reduce costs, speed up timelines, and improve project quality. EPC firms bring technical expertise, modern equipment, and global experience, making them more efficient than in-house teams
How did Power Generation Segment Dominate the Oil & Gas Infrastructure Market in 2024?
The power generation segment held the largest share of the oil & gas infrastructure market in 2024, because many countries use natural gas and fuel oil to produce electricity. This is especially true in regions where coal is being phased out. Gas-fired power plants are efficient, cleaner than coal, and can be built quickly. Infrastructure like gas pipelines, LNG terminals, and storage tanks is built to support these power plants.
The transportation segment is expected to grow at a notable rate due to the rising use of LNG in shipping and fuel for aviation. LNG is gaining popularity as a clean alternative to traditional marine fuels, especially with stricter emission rules for ships. Airports and airlines are also exploring LNG for aircraft fueling.
North America Market Size and Forecast 2025 to 2034
North America dominated the market in 2024, akin to the region having one of the world's richest oil and gas reserves in the current period. As the regional countries like United States and Canada are considered as the world's top producers of oil & gas in recent years, where exports have become the key earning for these countries in the past few years. Moreover, the region has seen heavy investment in the development of the pipeline, storage, and refineries nowadays, as per the recent regional survey.
Asia Pacific
Asia Pacific expected to capture a major share of the market, owing to the sudden increased demand for energy for heavy applications in recent years. Moreover, the regional counties such as China, India, and Southeast Asian countries are seen under the heavy expansion of their manufacturing facilities, where oil and gas play a crucial role as the primary fuel in the upcoming years.
Can China’s LNG Expansion Reshape Regional Power Dynamics?
China is expected to rise as a dominant country in the region in the coming years, owing to heavy development in the LNG and gas sector in recent years. The country’ observed under the heavy development of the cross-border pipelines and the huge LNG terminals as per the recent report. Furthermore, China has been heavily investing in cleaner fuels in recent years.
By Sector
By Infrastructure Type
By Material Type (For Pipeline & Facility Construction)
By Fuel Type
By Ownership/Operator
By End-Use Application
By Region
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August 2025
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