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Oil and Gas Pipeline Market is Expected to Grow at a CAGR of 11.6% by 2025

Oil and Gas Pipeline Market is Expected to Grow at a CAGR of 11.6% by 2025

 

With the growing oil and gas pipeline infrastructure, the demand for pipelines is growing tremendously across the globe.  The growth prospects of the global oil and gas pipeline market for 2017-2025 is estimated at a CAGR of 11.6%.

Oil and gas pipelines are used for a wide range of applications.  Swelling crude oil production in combination with growing deep drilling operations is likely to effect the growth of the oil and gas pipelines market.  The seamless pipes segment is anticipated as the fastest-growing segment of oil and gas pipeline market.  The market share is projected to exceed over the forecast period.

North America leads the global market both in terms of the pipeline length additions and capital expenditure being spent over the next four years.

Due to factors such as accessible formations and large proven reserves, the U.S. and Canada are projected as the centers of shale gas developments.  Moreover, these countries have advanced drilling and fracturing technologies, piping and refining infrastructure, which provides easy access to the markets.  The magnitude of upstream exploration and production taking place in North America is anticipated to surge oil & gas pipeline market in this region in the coming years.

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