Gas pipeline market projected to reach $4.8 trillion by 2030, driven by energy demand and cleaner shift
From GlobeNewswire: 2024-08-09 02:31:00
Allied Market Research released a report on the Gas Pipeline Infrastructure Market, projecting it to reach $4.8 trillion by 2030 from $3.9 trillion in 2023, with a CAGR of 2.9%. Growth factors include energy demand increase and cleaner energy shift, but high costs and price volatility pose challenges. Distribution operation segment is expected to grow fastest due to increasing demand for natural gas at local levels. Pipeline operation control centers segment is also predicted to see significant growth. North America dominated the market in 2023, supported by a well-developed pipeline network and regulatory framework. Key players include NOV Inc., Gazprom, and General Electric, focusing on strategies like collaborations and new product launches. Leading energy and power industry reports include Pipeline Equipment Market analysis and Oil and Gas Instrumentation trends.
The Gas Pipeline Infrastructure Market report outlines key growth drivers, challenges, and regional dominance, highlighting North America’s leadership and key players in the industry. Market growth is attributed to factors such as increased energy demand, technological advancements, and expansion of distribution networks for natural gas. Key industry players like NOV Inc. and Gazprom are implementing strategies to maintain a competitive edge.
The Gas Pipeline Infrastructure Market is expected to witness steady growth, reaching $4.8 trillion by 2030, with distribution operations and pipeline operation control centers projected to drive significant growth. North America leads the market, supported by a well-established pipeline network and regulatory framework. Key players like General Electric and APA Group are focusing on strategies like collaborations and product launches to maintain market dominance. Leading reports in the energy and power industry include analysis on Pipeline Equipment Market and Oil and Gas Instrumentation trends.
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