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By 2027, the global natural gas pipeline infrastructure market is expected to reach $3.228 trillion.
The California based company said it would grow at a CAGR of 3.4% on a revenue / volume basis over the forecast period.
Increased gas imports, as well as increased investment in infrastructure and network expansion, are likely to increase market demand, the report said.
The market said that the market mainly replaced the existing pipeline infrastructure due to the improvement of safety, and the pipeline expansion in some areas will also bring a significant boost.
According to the report, Gazprom has invested 5.9 billion euros in infrastructure expansion in the Sakhalin region and built nine inter settlement gas pipelines between 2008 and 2018.
In the forecast period, the compound annual growth rate based on income is 3.3%, and oil and gas pipeline is the fastest growing industry. It said this was due to the discovery of new gas reserves in the United States and China.
Due to the growing global demand for natural gas from homes, power plants and industry, the pipeline accounts for $1693 trillion of the total estimated pipeline, the report said.
According to the report, due to the increase of global natural gas import and export, the pipeline is expected to achieve a compound annual growth rate of 3.2% based on income by 2027.
The Asia Pacific region is expected to see the fastest growth, with a CAGR of 3.7% based on revenue, due to increased gas consumption in emerging economies and dependence on imports from other regions, the report said.