Report ID: 10070739 |
Published Date: 21 Mar 2025 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
United States Mid-Stream Oil Gas Equipment Market Scope
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Base Year |
2021 |
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Forecast Year |
2022-2031 |
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CAGR |
~6% |
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Base Year Market Size (2021) |
~ USD 7 Billion |
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Forecast Year Market Size (2031) |
~ USD 10 Billion |
United States Mid-Stream Oil Gas Equipment Market Size, Forecast, and Trend Highlights Over 2022 - 2031
The United States mid-stream oil gas equipment market is estimated to garner a revenue of ~ USD 10 billion by the end of 2031 by growing at a CAGR of ~6% over the forecast period, i.e., 2022 – 2031. Further, the market generated a revenue of ~ USD 7 billion in the year 2021. In operations related to oil and gas, the midstream phase involves the transportation of raw crude oil from the oil field to the refineries for transforming it into usable products for end-users. The midstream oil gas equipment comprises all the equipment used in storage, processing, and distribution, including oil pipelines, fluid compressors, and storage tanks. The increasing demand for transportation fuel is one of the primary reasons for the growth of the United States mid-stream oil gas equipment market in the forecast period. For instance, according to the U.S. Energy Information Administration, the energy consumption of the nation for the transportation of goods and people from one place to another in 2021 was about 28% of the total energy for consumption.
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Approximately 91% of this energy consumption constituted petroleum products, while the rest was in the form of biofuels and natural gas. The petroleum products mostly comprised gasoline (~55%), distillate (~25%), and jet fuel (~12%). Transportation in the U.S. is a sector that, like in any other economy, can impact the operations in many sectors, and hence the availability of transportation fuel is to stay relevant irrespective of changing sociopolitical situations. Thus, the rise in the demand for transportation fuel is the primary factor implying growth in the United States mid-stream oil gas equipment market size.
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United States Mid-Stream Oil Gas Equipment Market: Growth Drivers and Challenges
Growth Drivers
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Significant Presence of Oil Refineries in the U.S. - The number of operable petroleum refineries in the U.S. as of January 1, 2022, was more than 129. According to the Office of Energy Efficiency & Renewable Energy, over the past four decades, the total distillation capacity of all refineries in the U.S. increased from a low of 14.4 million barrels per day (b/d) in 1985 to a high of 18.7 million b/d in 2019. Thus, there had been an increase of about 123% in the average distillation capacity per refinery from 1982 to 2019. Presently, the capacity of the largest refinery in the U.S. is more than 625999 b/d. With a considerable presence of oil refineries, and their increasing capacities, the United States mid-stream oil gas equipment market has a lot of opportunities for further growth.
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Considerable Export Possibilities of the Nation - It was estimated that the U.S. exported more than 8 million barrels per day (b/d) of petroleum to over 175 countries and a few U.S. territories in 2021. Thus, for the second year consecutively since at least 1949, the U.S. became an annual total petroleum net exporter. Mexico (~14%), Canada (~11%), India (~8%), China (~8%), and South Korea (~7%) were the top five destination countries for U.S. total petroleum exports in 2021. Approximately 36% of the gross petroleum exports of the U.S. in 2021, amounting to about 3 million b/d, were crude oil exports. These export rates of the nation point to a growing trend in the United States mid-stream oil gas equipment market forecast for 2022-2031.
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Considerable Natural Gas Production and Consumption - In 2020 the U.S. dry natural gas production was estimated to be the second-highest annual amount recorded, with more than 33 trillion cubic feet (Tcf) and a per-day average of ~92 billion cubic feet. Similarly, the natural gas consumption of the U.S. in 2021 (~31Tcf) accounted for more than 30% of the total energy consumption by the nation. The crude oil and the natural gas extracted from the several wells of the upstream sector are transported to the oil refineries and the gas processing and treating plants by the midstream companies. This significant role of the midstream companies makes the production and consumption of natural gas an essential factor driving the growth of the United States mid-stream oil gas equipment market.
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Rich Oil and Gas Reserves in the Nation - The U.S. has proven reserves up to 5 times its annual consumption. Thus, it is observed that the nation can thrive without imports for more than four years. The total capacity of proved reserves of crude oil and lease condensate in the U.S. was estimated to be more than 38,200 million barrels by December 2020.
Challenges
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Ageing Oil Pipelines That Have Passed Their Original Design Life Span
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Negative Narrative Promoted by the Transition to Green Energy from Carbon Energy
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Governmental Regulations at Federal and State Levels
The United States mid-stream oil gas equipment market is segmented and analyzed for demand and supply by product type into pipe, gas treating & processing equipment, rail tank cars, compressor, pumps, valves, instrumentation equipment, storage tanks, and other equipment. Of these, the pipe segment is anticipated to hold the largest market size by the end of 2031. This projected growth of the segment is mainly due to the crucial role of oil pipelines in transportation which is central to the midstream in its revenue generation. The consumers pay tariffs to the pipelines for each unit of hydrocarbon they transport. As of January 2022, there are more than 170 operational gas pipelines in the U.S. which is a considerable share compared to the total number of operational gas pipelines in the world, which comes up to 640. The entire length of the transportation pipeline systems network in the U.S. is the highest among countries in the world, and it amounts to more than 814,590 km. Pipeline transportation is preferred for advantages, including complete operational automation, low operating costs, flexibility, and environmental friendliness.
Market Segmentation
Our in-depth analysis of the United States mid-stream oil gas equipment market includes the following segments:
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By Product Type |
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By Application Type |
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By Service |
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Key Companies Dominating the United States Mid-Stream Oil Gas Equipment Market
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the United States mid-stream oil gas equipment market that are included in our report are ABB Ltd, Ariel Corporation, Baker Hughes Company, Caterpillar, Compass Energy Systems Ltd., Eni S.p.A., Flowserve Corporation, General Electric Company, Kinder Morgan, Inc., Linde, Inc., and others.
United States Mid-Stream Oil Gas Equipment Market: Latest Developments
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May, 2022: Baker Hughes Company – launched MS-2 Annulus Seal, a new subsea wellhead technology optimized to lower the well's construction and intervention cost with reduced rig trips. Following the global launch of the sealing solution, several customers in South and North America soon adopted it.
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August, 2020: Compass Energy Systems Ltd. – signed an agreement with Exterran Corporation (Exterran) to acquire Exterran’s natural gas compression assets in the U.S. by the fourth quarter of 2020. With this acquisition, Compass hopes to enhance and extend its reach in the U.S and foreign markets by integrating with the experienced compression employees and established customer base of Exterran.
Key Reasons to Buy Our Report
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The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.
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It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.
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The report includes detailed company profiles of the major players dominating the market.
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We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.
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We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.
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Report ID: 10070739 |
Published Date: 21 Mar 2025 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
