Midstream Oil & Gas Equipment Market Research Analysis 2024-2033 | Growth, Size, Demand, Analysis, Insights

Overview and Scope

Midstream oil and gas equipment refers to the equipment and infrastructure responsible for the transportation and storage of oil and gas after they have been extracted from the ground and before they are refined or processed for use. This equipment are used to ensure safe and efficient transportation of oil and gas products over long distances by minimizing the risk of spills or other accidents.

Sizing and Forecast

The midstream oil & gas equipment market size has grown strongly in recent years. It will grow from $30.9 billion in 2023 to $33.49 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to global energy demand surge, expansion of oil and gas exploration, strategic pipeline infrastructure projects, globalization of gas markets, rise in shale gas production.

The midstream oil & gas equipment market size is expected to see strong growth in the next few years. It will grow to $44.57 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to transition to renewable energy, development of hydrogen economy, enhanced pipeline safety measures, global connectivity projects, investments in lng infrastructure. Major trends in the forecast period include digitalization and iot integration, energy storage solutions, advanced inspection technologies, integration of automation and control systems, digital twin technology, safety measures in transportation.

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Segmentation & Regional Insights

The midstream oil & gas equipment market covered in this report is segmented –

1) By Type: Pipes, Rail Tank Cars, Gas Processing Equipment, Storage Tanks, Pumps, Valves And Compressors

2) By Resource: Crude Oil, Natural Gas

3) By Application: Air Separation, Gas Lift, Gas Purification, Hydro Desulphurization, Hydrogen Production, Natural Gas Processing, Recycle Compression, Vapor Recovery

Asia-Pacific was the largest region in the midstream oil and gas equipment market in 2023, and is expected to be the fastest-growing region in the global midstream oil and gas equipment market during the forecast period. The regions covered in the midstream oil & gas equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth

The increase in demand for oil and gas across the globe is expected to propel the growth of the midstream oil and gas equipment market going forward. The increase in demand for oil and gas across the globe refers to the growing need for natural resources to meet the energy needs of various industries and consumers worldwide. Midstream oil and gas resources help meet oil and gas demand by enabling the safe and efficient transportation and storage of these resources. For instance, in December 2022, according to the US Energy Information Administration, a US-based official agency for energy statistics, global oil production accounted for 95.70 million barrels per day in 2021, with an increase of 1.96% compared to 93.86 million barrels per day in 2020. Further, the US accounted for the largest share, with 20% of total oil produced worldwide. Therefore, the increase in demand for oil and gas across the globe is driving the midstream oil and gas equipment market.

Key Industry Players

Major companies operating in the midstream oil & gas equipment market report are Ariel Corporation, EVRAZ plc, General Electric Company, Pentair Industries Inc., Trinity Industries Inc., Exterran Corporation, Sulzer Ltd., Greenbrier Companies Inc., Flowserve Corporation, Tenaris SA, Cameron International Corporation, ABB Limited, Baker Hughes Company, Caterpillar Inc., Halliburton Company, Legend Oil and Gas Ltd., Energy Transfer LP, Boardwalk Pipeline Partners LP, Kinder Morgan Inc., Enterprise Products Partners LP, Enbridge Inc., MarkWest Energy Partners LP, TransCanada Corporation, Cheniere Energy Inc., The Williams Companies Inc., Plains All American Pipeline LP, ONEOK Inc., Compañía de Petróleos de Chile SA, MPLX LP, Magellan Midstream Partners LP, Ebara Corporation

The midstream oil & gas equipment market report table of contents includes: