Onshore Oil and Gas Pipeline Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The onshore oil and gas pipeline market is expected to register a CAGR of more than 5% during the forecast period, 2022 -2027. The oil and gas market is one of the worst-hit industries during the COVID-19 pandemic. Pipeline projects witnessed delays due to imposed lockdown restrictions in major countries like United States and India. The decreased gas demand due to the decline in electricity consumption and travel restrictions also negatively affected gas consumption in several countries. However, with the ease in lockdowns, burgeoning demand in 2021-2022, and in a bid to meet the rising oil and gas consumption, the pipeline capacities are being expanded with new pipeline projects being commissioned. These developments are driving the onshore oil and gas pipeline market. However, the global shift toward renewable sources for electricity generation poses a huge threat to the oil and gas demand, which is likely to be a major challenge for the growth of onshore oil and gas pipeline installations during the forecast period.
Key HighlightsThe onshore oil and gas pipeline market is fragmented. Some of the key players in this market include Tenaris SA, Essar Group, Jindal SAW Ltd, Europipe GmbH, and TMK Group.
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