Canada Oil and Gas Midstream Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The market for Canadian oil and gas midstream is expected to register a CAGR of more than 2.5% during the forecast period, 2022-2027. The Canadian oil and gas midstream market was fairly unaffected by the COVID-19 pandemic since the constant usage of storage facilities for storing hydrocarbons, usage of pipelines for fuel transportation, and resilient demand for LNG in 2020 increased the demand for midstream services in the country amid pandemic. Factors such as increasing investments in the pipeline sector and increasing production and consumption of oil and gas are expected to boost the demand for the Canada oil and gas midstream market during the forecast period. Upcoming LNG terminal projects are also expected to drive market growth. However, the high volatility of crude oil prices, coupled with a drop in consumption, is expected to hinder the Canadian oil and gas midstream market during the forecast period.
Key HighlightsThe Canadian oil and gas midstream market is moderately fragmented. Some of the key players in the market include Baker Hughes Company, Tenaris SA, Tetra Tech Inc., Mistras Group Inc., and Trican Well Services Ltd.
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