The $2.5 trillion global gas pipeline infrastructure market is on track to reach $3.2 trillion by 2027, fueled by growing natural gas demand across key industries.
Industries such as power generation, residential and commercial, manufacturing, and chemical are anticipated to boost the usage of gas pipeline infrastructure over the next seven years, according to a new report by Grand View Research.
The surge represents an annual growth rate of 3.4 percent from 2020 to 2027.
The research shows rising natural gas imports, along with growing investments in infrastructure and network expansion, are likely to strengthen market demand.
According to the report, “gathering pipeline” is the fastest-growing segment of the market, due to the discovery of new reserves across several regions