October 2025 APCA MARKET PENETRATION RESEARCH www.ContinuumCapital.net Market Size by Mileage Conclusions (1 of 2) The Biden administration has been very effective at curtailing activity in this market sector via a series of local and Federal agency actions. Transmission activity and gas distribution activity, measured by mileage, is slightly trending down over the timeline presented, primarily due to political, regulatory, and environmental pressures. Transmission, Hazardous Liquid, and Gathering activity are highly volatile as measured by mileage. – Transmission has an underlying base of activity that is much more stable due to short-haul segments and stations, the long-haul portion of the market is responsible for nearly all of the volatility. 65
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