888-776-0942 from 8 AM - 10 PM ET

NEW YORK , Sept. 20, 2022 /PRNewswire/ -- The global oil and gas pipeline fabrication and construction market size is expected to grow by USD 59.47 billion between 2021 and 2026. However, the growth momentum is expected to decelerate at a CAGR of 4.82% during the forecast period. The report considers active rig count number of oil wells, upstream CAPEX, revenue generated by upstream E&P companies, and investments in the oil and gas sector to estimate the market size. Understand the scope of the full report. Download PDF Report Sample

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The oil gas pipeline fabrication and construction market report covers the following areas:

The market is fragmented due to the presence of several vendors occupying the competitive landscape. Vendors in the market are adopting growth strategies such as M&As, forming partnerships, and business expansion to attain market dominance and enhance their shares. The report identifies A.Hakpark B.V., AECOM, Barnard Construction Co. Inc., Bechtel Corp., Bonatti Joint Stock Co., Fluor Corp., Gateway Companies LLC, KAD Construction LLC, Larsen and Toubro Ltd., Ledcor Group, MasTec Inc., McDermott International Inc., Michels Corp, Primoris Services Corp, Shengli Oil and Gas Pipe Holdings Ltd., Snelson Companies Inc., Strike Inc., Sunland Construction Inc., Tenaris SA, and AES Corp. as dominant vendors.

Growing natural gas consumption has been instrumental in driving the growth of the market. The demand for natural gas is on the rise globally, especially in developing regions such as APAC. This is due to the rising need for energy security and environmental benefits associated with the use of natural gas. By 2030, the consumption of natural gas is expected to be significant compared to all fuel types. Thus, the rising consumption of natural gas is expected to increase the demand for oil and gas pipeline fabrication and construction during the forecast period.

However, issues related to pipeline transportation might hamper the market growth. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Request Sample Report Here

The global oil gas pipeline fabrication and construction market is segmented as below:

The market growth in the oil segment will be significant over the forecast period. The segment is driven by the increasing consumption of oil. The global oil consumption was increased to 5.5 million barrels per day in 2021. This is expected to further increase by 3.3 million barrels per day in 2022. The increased application of petroleum-based products in various industries is propelling the market demand in the segment.

The Middle East and Africa is the dominant region, occupying 36% of the global market share. The region has a large number of pipeline projects that have been planned or are in progress. In addition, the increased investments in unconventional natural gas reserves and rising construction activities will have a positive impact on the growth of the regional market.

Oil Gas Pipeline Fabrication And Construction Market Scope

Decelerate at a CAGR of 4.82%

The Middle East and Africa, North America, Europe, APAC, and South America

The Middle East and Africa at 36%

US, Canada, Saudi Arabia, China, and Russia

Leading companies, competitive strategies, consumer engagement scope

A.Hakpark B.V., AECOM, Barnard Construction Co. Inc., Bechtel Corp., Bonatti Joint Stock Co., Fluor Corp., Gateway Companies LLC, KAD Construction LLC, Larsen and Toubro Ltd., Ledcor Group, MasTec Inc., McDermott International Inc., Michels Corp, Primoris Services Corp, Shengli Oil and Gas Pipe Holdings Ltd., Snelson Companies Inc., Strike Inc., Sunland Construction Inc., Tenaris SA, and AES Corp.

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected] Website: www.technavio.com/

More news releases in similar topics

Cision Distribution 888-776-0942 from 8 AM - 9 PM ET