(MENAFNEditorial) iCrowdNewswire - Jul 16, 2018
The Global Gas Pipeline Infrastructure Market size is set to exceed USD 2 trillion by 2024, as reported in the latest study by Global Market Insights, Inc.
Growing discoveries of unconventional reserves coupled with increasing number of gas fired power generation stations across the globe will drive the gas pipeline infrastructure market size. In 2016, the Energy Information Administration (EIA) published that shale production in the country surpassed 15.2 trillion cubic meter (tcm) in 2015 experiencing over 1.7 tcm year on year increase.
Italy gas pipeline infrastructure market is projected to surpass cumulative installation of 300 ‘000 km by 2024. Rising investments to develop transmission links to cross border transactions through offshore routes will complement the business growth. In 2016, Saipem entered into an agreement with Trans Adriatic Pipeline AG to develop 105 km of 36 offshore gas pipeline between coastlines of Italy and Albania.
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Rising energy demand across the developing economies owing to evolving substructure and rapid urbanization will foster the gas pipeline infrastructure market share. Increasing development has resulted in exponential growth of cross border exports and imports through pipeline networks. In 2016, the EIA reported that natural gas pipelines exports from Russia and Norway to Europe were raised by 16% in the last three quarters of 2015 when compared with 2014 level.
Upsurge in the need to enhance the international natural gas trade to suffice the energy demand and generation targets will positively drive the transmission gas pipeline infrastructure market. In 2016, Spectra Energy and TransCanada awarded contract to combinedly build, own and operate the new pipeline from Texas to Tuxpan, Mexico. The aim of the USD 3.6 billion worth 270-km pipeline plan is to successfully supply the U.S. shale to power plants in Mexico by 2018.
Browse key industry insights spread across 245 pages with 280 market data tables & 10 figures & charts from the report, 'Gas Pipeline Infrastructure Market Size By Application (Onshore, Offshore), Operation (Transmission, Distribution), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, UK, Germany, Italy, Hungary, France, Turkey, Russia, China, Australia, India, Indonesia, Iran, Algeria, Egypt, Brazil, Argentina), Price Trends, Competitive Market Share & Forecast, 2017 2024 in detail along with the table of contents
Increase in production of unconventional resources coupled with strict government norms toward adoption of low emission fuel will embellish the U.S. gas pipeline infrastructure market. Ongoing expansion of existing pipeline networks favored by increasing demand for exports will further complement the industry outlook. In 2017, the EIA published that natural gas production is expected to hold around 40% of the total energy production by 2020.
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Algeria gas pipeline infrastructure market is predicted to grow over 6% by 2024. Substantial administration funding for extension of the national transmission and distribution networks will augment the industry growth. In 2016, the Algerian government owned O & G company, Sonatrach announced to invest USD 3.2 billion over four years to enhance the pipeline capacity.
Growing number of connected end users coupled with positive outlook toward hydrocarbons trade with nearby nations will propel the onshore gas pipeline infrastructure market. Regional governments have introduced targets and schemes to expand the existing network to reach customer base. In 2015, the Ministry of Energy and Natural Resources (MENR), Turkey underlined a strategic plan with an objective to add at least two more countries to the list of pipeline natural gas importing nations by 2019.
Key players across the gas pipeline infrastructure market includes Europipe, Gazprom, Enbridge, Snam Rete, APA Group, Saipem, Perusahaan Gas Negara, GAIL India, Engas, and National Oilwell Varco.
Contact Information:
Global Market Insights, Inc.
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