U.S. Oil & Gas Infrastructure Market is predicted to surpass USD 80 billion by 2024. Establishment of new refineries with environmentally friendly footprint coupled with ongoing investments toward expansion of existing refinery units will drive the U.S. oil and gas infrastructure market. Moreover, rising demand of gasoline from Mexico owing to the country?s growing automotive sector has resulted into new refineries set up plans in the nearby U.S. regions which will complement the business landscape.
Incessant increase in demand for natural gas along with availability of proven gas reserves will positively influence the oil & gas infrastructure market share. Furthermore, the government efforts toward reduction of electricity generation from coal has let to inauguration of new gas fired power plants accompanied with modification of coal fired units into natural gas, which will stimulate the business growth.
In 2017, Southwest region accounted for over 30% of the oil and gas infrastructure market share in the U.S. Availability of major shale reservoirs in Texas including Barnett shales and Eagle Ford will encourage infrastructure investment across the region. In addition, high energy consumption across the industrial sector will positively impact the industry landscape.
Rising gasoline demand from a several industries, primarily the automobile and power sector will fuel the refining and oil products transport market share. The country has witnessed an increase in the refinery throughput and refining capacity over past few years. Moreover, increasing export of crude and natural gas will complement the business landscape.
Southeast oil and gas infrastructure market is predicted to witness growth on account of retirement of coal fired power generation units, leading to addition of natural gas fired capacity. Moreover, regional expansion of pipeline networks with an aim to bring shale gas to cater the gas-fired generation will drive investment across the midstream sector.
Government initiatives to reduce carbon footprint has resulted into application of CNG and LNG vehicles a substitute to diesel fuel which will augment the natural gas infrastructure market growth. The western states including Nevada and California has witnessed a continuous increase in the consumption of vehicle fuel since 1990?s. Furthermore, the country has witnessed an incessant increase in the LNG consumption particularly for cryogenic application across the industrial sector which will escalate the demand for infrastructure investment.
Some of the prominent players across the U.S. oil & gas infrastructure market include Shell, Baker Hughes (GE), Halliburton, Hatch, ExxonMobil, Schlumberger, BP, Total, Kinder Morgan, Williams Companies, Rosneft, ConocoPhillips, Chevron, Oneok, Vopak, Occidental Petroleum Corporation, Cheniere Energy, DCP Midstream, NGL Energy Partners, and Centrica.