United States Oil and Gas Midstream Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The US oil and gas midstream market is expected to register a CAGR of more than 4.15% during the forecast period of 2022-2027. United States 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 United States oil and gas midstream market during the forecast period. Additionally, 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 US oil and gas midstream market during the forecast period.
Key HighlightsThe US oil and gas midstream market remains fragmented, with key players such as American Midstream Partners LP, Chevron Inc., BP PLC, Tenaris SA, and Shell Midstream Partners LP, among others.
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