At 3.4% CAGR, North America Gas Pipeline Infrastructure Market is Projected to be Worth US$ 27,641.34 Billion by 2030, says Business Market Insights

According to Business Market Insights research, the North America gas pipeline infrastructure market was valued at US$ 21,084.52 billion in 2022 and is expected to reach US$ 27,641.34 billion by 2030, registering a CAGR of 3.4% from 2022 to 2030. Rise in demand for natural gas and increase in energy demand are among the critical factors attributed to the North America gas pipeline infrastructure market expansion.

The increasing demand for natural gas for power generation, heating, cooking, and transportation is boosting the demand for natural gas. The versatile application of natural gas leads to growing share of natural gas within energy portfolios. Natural gas is one of the foremost energy sources as it is the least polluting of the fossil fuels. Natural gas is key for fabricating fertilizers, chemicals, and hydrogen. Natural gas is also preferred as an alternative for many household applications, for instance, heating or water heating. Gas-powered models for air conditioning also require natural gas for operation. Further, the usage of natural gas is also important in the commercial sector. Natural gas is employed in manufacturing paper, bricks, glass, steel, and iron as a cheap alternative to other gases. The increasing preference for high-capacity and cheap energy resources is boosting the application of natural gas. The augmented demand for natural gas requires adequate accumulation of natural gas, which drives the need for proper gas pipeline infrastructure. According to the Gas Exporting Countries Forum's Global Gas Outlook 2050, demand for natural gas is expected to increase globally by 34%, from 4,015 billion cubic meters in 2022 to 5,360 billion cubic meters in 2050. In addition, natural gas production and demand are anticipated to rise in the US in 2023 and 2024, as per the US Energy Information Administration. Natural gas production is anticipated to reach 103.68 billion cubic feet per day in 2023 and 105.12 billion cubic feet per day by 2024, rising from 99.60 billion cubic feet per day in 2022. Thus, the rise in demand for natural gas drives the gas pipeline infrastructure market.

On the contrary, rapid expansion or investment towards renewable power generation from solar and wind hampers the growth of North America gas pipeline infrastructure market.

Based on operation, the North America gas pipeline infrastructure market is bifurcated into transmission and distribution. The distribution segment held 83.2% share of North America gas pipeline infrastructure market in 2022, amassing US$ 17,547.18 billion. It is projected to garner US$ 22,968.80 billion by 2030 to expand at 3.4% CAGR during 2022-2030.

In terms of equipment, the North America gas pipeline infrastructure market is categorized into pipeline, compressor station, metering skids, and valves. The pipeline segment held 51.7% share of North America gas pipeline infrastructure market in 2022, amassing US$ 10,892.06 billion. It is projected to garner US$ 14,482.79 billion by 2030 to expand at 3.6% CAGR during 2022-2030.

Based on application, the North America gas pipeline infrastructure market is bifurcated into onshore and offshore. The onshore segment held 78.1% share of North America gas pipeline infrastructure market in 2022, amassing US$ 16,470.02 billion. It is projected to garner US$ 21,443.22 billion by 2030 to expand at 3.4% CAGR during 2022-2030.

By country, the North America gas pipeline infrastructure market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 85.7% share of North America gas pipeline infrastructure market in 2022. It was assessed at US$ 18,064.47 billion in 2022 and is likely to hit US$ 23,662.02 billion by 2030, exhibiting a CAGR of 3.4% during 2022-2030.

Key players operating in the North America gas pipeline infrastructure market are Enbridge Inc, TC Energy Corp, Berkshire Hathaway Inc, Kinder Morgan Inc, Pembina Pipeline Corp, among others.

• In November-2023, Enbridge Inc finalized a deal to invest 50% of its joint venture with EDF Renewables to take part in the development and management of the Fox Squirrel solar project.
  
  
• In August-2022, A strategic agreement has been agreed upon by TC Energy Corp and the CFE, the state-owned electric utility in Mexico, with the aim of expediting the development of natural gas infrastructure in the central and southeast parts of the country. In connection with the natural gas pipeline assets in central Mexico, TC Energy and the CFE have decided to combine earlier take-or-pay agreements (TSAs) underwritten by TC Energy's Mexico-based subsidiary TGNH and the CFE into a single, take-or-pay agreement priced in US dollars that would run through 2055. Related new infrastructure projects that are being planned in collaboration with the CFE will also be governed by this new TSA.
  
  
• In July-2023, Kinder Morgan and Howard Energy Partners expanded their Eagle Ford natural gas transportation systems. Tejas is constructing a 67-mile pipeline and Dos Caminos is constructing a 62-mile pipeline. The projects are expected to be completed in Q4 2023 and deliver up to 2 billion cubic feet per day of natural gas to U.S. Gulf Coast markets. The $251 million expansion project is a critical supply link for power generators, industrial customers, and LNG exporters along the Texas intrastate pipeline network.
  
  

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