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U.S. Oil and Gas Infrastructure Market by Size, Share, Growth, Segment, Trends, and Forecast to 2024

Burgeoning demand for natural gas along with the availability of proven gas reserves has accelerated U.S. oil & gas infrastructure market growth. Government authorities in the U.S. have aligned their focus on generating electricity from gas-fired power plants, accompanied by the replacement of coal-fired units with natural gas, accelerating the deployment of new natural gas infrastructures.

Rising investments toward the expansion of existing as well as new refineries meanwhile is supporting the growth of U.S oil and gas infrastructure market. Reportedly, in recent years, the U.S. has witnessed a surge in refining capacity and throughput. Industries like the automobile and power generation are driving the demand for gasoline products. Meanwhile, the export of natural gas and crude oil has supplemented the development of oil and gas infrastructures in the country.

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Given to these inclinations, Global Market Insights, Inc., estimates that the U.S. oil & gas infrastructure market may exceed USD 80 billion by 2024.

The automobile industry is expected to offer lucrative growth opportunities to the U.S. oil & gas infrastructure market. Western states such as California and Nevada have witnessed a considerable rise in the consumption of automotive fuel ever since the 1990s.

Government initiative to curb carbon emission has accelerated the adoption of CNG and LNG vehicles. This has significantly fueled the demand for natural gas, thereby driving the requirement of natural gas infrastructure.

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Also, the U.S. has witnessed a robust increase in LNG consumption, especially for cryogenic application, across the industrial sector, factors impelling U.S. oil and gas infrastructure market forecast.

The southwestern region is expected to offer prominent growth opportunities for companies operating in U.S. O&G infrastructure market. As per reports, in 2017, the Southwest region held over 30% of the total U.S. market share.

Availability of large shale reservoirs in Texas including Eagle Ford and Barnett shales may encourage infrastructure investments across the region. High energy utilization across the industrial sector may improve industry landscape over the forecast period.

Meanwhile, the replacement of coal-fired power plants with natural gas-fired units across Southeastern U.S. for expansion of pipeline networks to supply shale gas for gas-fired power generation may fare U.S. oil and gas infrastructure outlook.

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Prominent players operating in the U.S. oil & gas infrastructure market include Centrica, NGL Energy Partners, DCP Midstream, Cheniere Energy, Occidental Petroleum Corporation, Vopak, Oneok, Chevron, ConocoPhillips, Williams Companies, Rosneft, Total, Kinder Morgan, Schlumberger, BP, Hatch, ExxonMobil, Halliburton, Baker Hughes (GE), and Shell.

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About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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