Manufacture and construction of oil and gas pipelines
The oil and gas pipeline manufacturing and construction market is expected to register a CAGR of more than 3.5% during the forecast period.
The market was negatively affected by the COVID-19 pandemic. However, the market has now reached pre-pandemic levels.
The pipeline network is expected to grow in parallel with the increasing demand for natural gas, which is expected to increase the growth of the global pipeline and construction market during the forecast period.
However, delays in pipeline projects due to land and border disputes in several countries are expected to hamper market growth during the forecast period.
Nevertheless, pipeline expansion projects and new pipeline projects are expected to create huge business opportunities for the oil and gas pipeline manufacturing and construction market in the coming years.
North America is one of the main centres of demand for the oil and gas pipeline manufacturing and construction market, with the United States as the main hotspot.
