Oil & Gas Construction Market
To understand the market size and landscape of the oil and gas construction market in the US & Canada (North America). Specifically, to provide the following data about this market:
- 2019 market size.
- 2020-2024 market size forecast.
- Top 10 players in the market.
- According to IBISWorld, the oil & gas pipeline construction market in the U.S. was valued at around $52.79 billion as of 2019. The market grew at rate of 2.1% CAGR between 2015 and 2020, and is expected to register a growth rate of 5.1% CAGR in 2020.
- The growth rate for this market through 2026 is available in this source, however, this data is locked behind a paywall.
- The oil & gas pipeline construction market in Canada is sized at about $8 billion. The market grew at a rate of -9.8% CAGR between 2015 and 2020.
- The growth rate of this market through 2025 is available in this source, however, this data is locked behind a paywall.
- Globally, the oil and gas pipeline construction market is expected to grow at a rate of 6% CAGR through 2025, according to Mordor Intelligence. North America holds the largest share of this market.
- If the North American market ($52.79 billion + $8 billion) grows in alignment with the global market through 2025 (6% CAGR), the market size in 2024 (5 years from 2019) will be around $81.35 billion.
- Major players in this market, according to Mordor Intelligence, are as follows: Nippon Steel, Sumitomo Metal, Tenaris Inc., TMK Group, Baker Huges Co., and Mott MacDonald Group Ltd.
- A report published by market watch noted the following companies as key players in this market: Bechtel, Snelson, Pumpco, Barnard Pipeline, Sunland Construction, Tenaris, Ledcor Group, Gateway Pipeline, Bonatti, and MasTec.
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