With rising accessibility and production from offshore gas fields coupled with increasing incorporation of advanced technologies has augmented the gas pipeline infrastructure market outlook over past few years. As the government initiatives for enhancing the inadequate gas distribution and transmission infrastructure for facilitating domestic and international trade is expanding worldwide, the industry is expected to grow exponentially over coming years. According to Global Market Insights, Inc. gas pipeline infrastructure market size is projected to reach USD 1.5 trillion by 2025.
Growing inclination towards clean energy especially across residential and commercial sector will further provide positive growth prospects for the market. In this regard, various strict industry norms are being enforced in conjunction with increasing government measures to curb universal climate change.
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Increasing adoption of natural gas in manufacturing, power generation, and chemical plants is another important factor driving the development of gas pipeline infra projects. Quoting an instance, in 2019, leading energy company Cepsa inked a framework agreement with Spanish gas distributor Redexis for expanding the reach of natural gas fuel across urban areas as well as the country’s major transport corridors for heavy and light vehicles. According to the company, this collaboration will help the company form largest gas refueling network across Spain and expand the supply of energy solutions and provide sustainable mobility.
Following are some of the pivotal trends anticipated to drive gas pipeline infrastructure market growth:
Strategic initiatives by major industry players
Key market players operating in gas pipeline infrastructure market such as Gazprom, Enbridge, Europipe, APA Group, Redexis, Technip, Perusahaan Gas Negara, General Electric, GAIL, Varco, etc. are focusing on strategic business moves like collaborations, mergers and acquisitions in order to gain strong market presence. For instance, in 2020, Enbridge Inc. announced the acquisition of NextDecade Corporation owned Rio Bravo Pipeline Company, LLC for $25 million. Apparently, this deal enables the company to expand production capacity and gain strong foothold in the global market.
Increasing adoption of distribution gas pipeline infrastructure
Distribution gas pipeline infrastructure is gaining massive traction due to increasing initiatives for enhancing ageing infrastructure in line with industry standards as well as rising need for reliable gas supply. State regulatory bodies are as well undertaking active measures for improving gas accessibility across residential and commercial establishments and encourage domestic gas production.
Rising application in offshore projects
Rising expenditure towards development of oil & gas projects due to recovering prices is driving the demand for gas pipeline infrastructure in offshore applications. In addition, supportive trade norms across several countries has positively influenced the investment in untapped gas fields. To illustrate, according to 2021 Wood Mackenzie’s Australasian upstream report, around US$11 billion of gas projects are likely to get sanctioned in 2021.
Expanding gas pipeline network across the U.S.
Increasing investment towards the development of additional pipeline network in the U.S. is the major factor fostering the adoption of gas pipeline infrastructure. Growing rig count coupled with robust expansion of exploration & production ventures are also supporting the business space in the country. Significantly increasing production from shale gas plays and inclination for new project development across North EAST U.S and Permian Basin is also instigating the product demand further.
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