The length of oil pipelines in the US has seen steady growth from 2013 to 2023, increasing from 192.41 thousand lane miles to 229.06 thousand lane miles. Over the last two years (2022-2023), the year-on-year growth slowed slightly to approximately 1.2% annually. The 5-year CAGR, indicative of more recent trends, reflects a deceleration to 1.26%. This long-term view shows a striking contrast to the double-digit growth rates observed in the early part of the time series (2013-2015) and suggests a maturing market.
Looking ahead, forecasts for 2024 to 2028 predict a slower pace of expansion with a forecasted 5-year CAGR of 0.85% and a 5-year growth rate of 4.3%. Key future trends to watch for include possible regulatory changes, technological innovations aimed at improving efficiency, and shifts in energy policy that favor alternative energy sources, all of which may further influence the pipeline infrastructure landscape.
