October 2025 APCA MARKET PENETRATION RESEARCH www.ContinuumCapital.net Market Size Driver Conclusions (1 of 4) FERC approvals and commodity prices are the primary drivers of transmission and hazardous liquid construction activity. Commodity prices and basin product takeout capacity are the primary drivers of gathering line construction activity. Regulation and housing starts are the primary drivers of distribution construction activity. Pipeline capacity continued to accelerate during the Obama administration when curtailing efforts remained largely focused at the National level and proved ineffective at stopping highly powerful market forces. The Biden administration was much more effective at curtailing efforts and environmental forces have moved to a more local blocking actions that have proved much more effective. 52
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