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Gas Pipeline Infrastructure Market to garner a groundbreaking valuation of more than USD 2 trillion by 2024

Author : Rahul Sankrityayan | Published Date : 2019-03-19 

Gas pipeline infrastructure market has been gaining considerable traction across myriad geographies, pertaining to the developments in distribution and transmission systems coupled with the growing popularity of natural gas as an alternative fuel. Natural gas is being considered as a viable alternative to coal fired power plants, considering its benefits of cost-effectiveness and ample availability. In this regard, an increase has been observed in the number of natural gas fired plants, which would ultimately propel gas pipeline infrastructure industry share.

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In recent times, it has been observed that regional governments have been promoting excavation and exploration activities on a large scale to overcome the dependency on fossil fuels. For instance, reputed oil giant Royal Dutch Shell has been involving itself in a plethora of projects for natural gas exploration across the United States. Even the U.S. government is installing pipelines to transport natural gas from its origin to various intra and interstate regions across the country, which would subsequently boost U.S. gas pipeline infrastructure industry size. For the record, gas pipeline infrastructure market held a mammoth revenue of USD 1 trillion in 2016.

Major players partaking in gas pipeline infrastructure industry share have been increasingly investing in power and gas pipeline infrastructure to combat the shortage of electricity across various regions of the globe. Royal Dutch Shell has recently signed an agreement with Nigerian company to develop a gas pipeline infrastructure in the country. Under this 300-million-dollar agreement with Nigerian Shoreline Energy, Shell plans to develop and distribute natural gas around Lagos, the commercial capital of Nigeria. This deal provides an opportunity to Shoreline to expand its gas business post the financial downturn witnessed across Nigeria.

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The increasing demand for electricity across the commercial, industrial, and residential sectors has prompted various governmental bodies to increase their investments in gas pipeline infrastructure market. For example, considering the future demand for natural gas, the Indian government formulated the “Vision 2030” to develop natural gas infrastructure in India under the guidelines of Natural Gas Regulatory Board (PNGRB). India has been experiencing an increase in the demand for natural gas since the last few years, owing to rise in its popularity as a convenient alternative fuel, its ample availability, and cost-effectiveness. Furthermore, the growing investments in infrastructure to import LNG and transport domestic gas are certain to influence India gas pipeline infrastructure market share positively.

Growing technological advancements in hydraulic fracturing and hydraulic drilling are certain to bring about a rise in the number of excavation activities across the various regions of the globe, which would collectively result in an increase in the availability of natural gas. The surging use of natural gas in the electric power sector is another factor that is likely to boost gas pipeline infrastructure market size, slated to surpass around 8 million kilometers by 2024.

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Gas Pipeline Infrastructure Market, By Application

  • Onshore
  • Offshore

Gas Pipeline Infrastructure Market, By Operation

  • Transmission
  • Distribution

Gas Pipeline Infrastructure Market, By Equipment

  • Valves
    • Ball Valve
    • Gate Valve
    • Plug Valve
  • Pipelines
  • Compressor Station
    • Turbine
    • Motors
  • Metering Skids

Related Report:

  1. Europe Air Source Heat Pump Market

http://technologymagazine.org/2497-2/ 

 

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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