NAICS 23712 - Oil and Gas Pipeline and Related Structures Construction
This industry comprises establishments primarily engaged in the construction of oil and gas lines, mains, refineries, and storage tanks. The work performed may include new work, reconstruction, rehabilitation, and repairs. Specialty trade contractors are included in this group if they are engaged in activities primarily related to oil and gas pipeline and related structures construction. All structures (including buildings) that are integral parts of oil and gas networks (e.g., storage tanks, pumping stations, and refineries) are included in this industry.
Industry trends:
The Oil and Gas Pipeline and Related Structures Construction industry (NAICS 23712) has been experiencing several key qualitative trends. One significant trend is the increasing focus on sustainability and environmental stewardship. Companies in this sector are investing more in technologies and practices that reduce environmental impact, such as utilizing advanced pipeline materials and incorporating renewable energy sources into their operations.
There is also a growing emphasis on digital transformation. Firms are adopting digital twins, AI-driven analytics, and IoT technologies to enhance the efficiency, reliability, and safety of pipeline construction and maintenance. These innovations help predict potential issues, optimize resource deployment, and reduce operational costs.
Another notable trend is the shift towards natural gas as a bridge fuel. As the global demand for cleaner energy sources rises, a proportionate increase in natural gas pipeline projects has been observed. This shift is driven by natural gas's lower carbon footprint compared to other fossil fuels.
Additionally, geopolitical factors and regulatory pressures are significantly impacting the industry. Policies aimed at regulating emissions and enhancing safety standards are pushing companies to adapt quickly, which includes compliance with stricter environmental regulations and community engagement practices.
Looking to the near future, the industry is expected to see moderate growth driven by these sustainability and technology trends. However, it will also be shaped by fluctuating energy prices and ongoing debates around fossil fuel usage versus renewable energy adoption. The integration of green hydrogen into the energy mix may further drive pipeline construction innovation and diversification.
This industry is comprised of:
Compressor, metering and pumping station, gas and oil pipeline, construction
Construction management, oil and gas pipeline
Construction management, oil refinery and petrochemical complex
Corrosion protection, underground pipeline and oil storage tank
Distribution line, gas and oil, construction
Gas main construction
Gathering line, gas and oil field, construction
Natural gas pipeline construction
Natural gas processing plant construction
Oil and gas field distribution line construction
Oil pipeline construction
Oil refinery construction
Petrochemical plant construction
Petroleum refinery construction
Pipe lining (except thermal insulating) contractors
Pipeline construction on oil and gas field gathering lines to point of distribution on a contract basis
Pipeline rehabilitation contractors
Pipeline wrapping contractors
Pipeline, gas and oil, construction
Pumping station, gas and oil transmission, construction
Refinery, petroleum, construction
Service line, gas and oil, construction
Storage tank, natural gas or oil, tank farm or field, construction
This report includes the ability to segment your Industry by:
- Region
- Employees
- Net Sales
- Company Age
- Total Assets
- Ownership Type
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