Dublin, Sept. 20, 2024 (GLOBE NEWSWIRE) — The “United States Oil & Gas Infrastructure Market, By Region, Competition, Forecast & Opportunities, 2019-2029F” report has been added to ResearchAndMarkets.com’s offering.
United States’ Oil & Gas Infrastructure Market was valued at USD 73.92 million in 2023, and is anticipated to project robust growth during the forecast period, with a CAGR of 6.54% through 2029, reaching USD 109.08 million.
The market for this infrastructure is poised to rise significantly due to several driving factors. Firstly, the ongoing surge in domestic oil and gas production, driven by technological advancements such as hydraulic fracturing and horizontal drilling, has increased the demand for enhanced and expanded infrastructure to accommodate the growing volumes of hydrocarbons. Secondly, the aging infrastructure necessitates substantial investments in modernization and upgrades to meet safety, environmental, and efficiency standards.
Additionally, geopolitical and economic factors, including shifts in global energy markets and energy security concerns, are prompting increased investments in domestic infrastructure to reduce reliance on foreign energy sources and ensure reliable supply chains. Furthermore, legislative and regulatory support aimed at boosting energy independence and supporting sustainable energy practices contributes to the market’s growth by encouraging investment in both new projects and the retrofitting of existing assets.
As a result, the United States Oil & Gas Infrastructure Market is set to experience robust growth, driven by a combination of increasing production needs, infrastructure aging, and policy support aimed at strengthening the energy sector.
Regional Insights
In 2023, Southern United States dominated the United States Oil and Gas Infrastructure Market and is expected to retain its dominance throughout the forecast period. This region’s preeminence is largely attributed to its significant concentration of oil and natural gas production activities, particularly in states like Texas and Louisiana, which are pivotal to the nation’s energy landscape. The South United States benefits from extensive reserves of hydrocarbons and a well-established infrastructure network that supports exploration, production, and transportation activities.
Additionally, the region’s favorable geological conditions and advanced extraction technologies have bolstered its position as a leading hub for oil and gas operations. The South United States also hosts a large number of refineries and processing facilities, further cementing its role as a central player in the oil and gas infrastructure market. As the demand for domestic energy resources continues to grow, ongoing investments in expanding and upgrading infrastructure within this region are anticipated to sustain its dominant position. This includes enhancements to pipelines, storage facilities, and production plants to accommodate increased production and distribution needs.
While other regions such as the Midwest, North-East, and West United States also contribute to the market, the South United States’ extensive resource base, established infrastructure, and strategic investments ensure its continued leadership in the oil and gas infrastructure sector.
Key Market Drivers:
- Surge in Domestic Oil and Gas Production
- Aging Infrastructure and the Need for Modernization
- Geopolitical and Economic Factors
Key Market Challenges:
- Environmental and Safety Regulations
- Infrastructure Capacity and Technological Constraints
Key Market Trends:
- Adoption of Advanced Technologies
- Increased Focus on Sustainability
- Expansion of Infrastructure Networks
Report Scope
In this report, the United States Oil & Gas Infrastructure Market has been segmented into the following categories:
By Upstream Infrastructure:
- Exploration & Production Facilities
- Drilling Rigs
- Wellheads
By Midstream Infrastructure:
- Pipelines
- Storage Facilities
- Transportation Systems
By Support Infrastructure:
- Maintenance & Repair Services
- Control Systems
- Safety & Compliance Equipment
By Region:
- South US
- Midwest US
- North-East US
- West US
Key Attributes
| Report Attribute | Details |
| No. of Pages | 85 |
| Forecast Period | 2023-2029 |
| Estimated Market Value (USD) in 2023 | $73.92 Million |
| Forecasted Market Value (USD) by 2029 | $109.08 Million |
| Compound Annual Growth Rate | 6.5% |
| Regions Covered | United States |
A selection of companies mentioned in this report includes, but is not limited to:
- ExxonMobil Corporation
- Chevron Corporation
- Kinder Morgan, Inc.
- Enterprise Products Partners L.P.
- Williams Companies, Inc.
- Enbridge Inc.
- ONEOK, Inc.
- Dominion Energy, Inc.
- BP plc
- Crestwood Equity Partners L.P.
For more information about this report visit https://www.researchandmarkets.com/r/8tpczd
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