PUBLISHER: DataM Intelligence | PRODUCT CODE: 1247451
PUBLISHER: DataM Intelligence | PRODUCT CODE: 1247451
The global oil & gas pipeline services market reached US$ XX million in 2022 and is projected to witness lucrative growth by reaching up to US$ XX million by 2030. The market is growing at a CAGR of 6.60% during the forecast period (2023-2030).
Petroleum products are widely used to produce energy. It has different types, such as petrol, diesel, kerosene and LPG. The heavy fuel oil is transported from producing regions to numerous consumption centers by network modes, such as roads, pipelines, rail, sea or a combination. Pipelines are the most preferred mode of transportation to carry oil and gas products to various distribution centers.
Crude oil pipelines drive market growth for oil and gas pipeline services by providing a cost-effective means of transporting huge quantities of crude oil from production sites to refineries storage facilities. It increases the supply of crude oil to the facilities, which drives demand for refining and storage services. Crude oil pipelines also help to increase the reliability of the oil and gas supply chain by providing a continuous and dependable mode of transport. It reduces the risk of supply disruptions and price volatility, which is important for producers and consumers.
The construction and installation of pipelines is a complex and costly endeavor, making it difficult for companies to justify the investment. The construction of pipelines requires heavy machinery and specialized equipment such as excavators, bulldozers and cranes, which can be costly to purchase or rent. Additionally, installing pipelines requires the work of skilled engineers and construction workers, which can be expensive to hire. All the expenses associated with establishing the pipelines increase the final product's cost, reducing the end-product demand. Therefore, high installation costs can significantly restrain the oil and gas pipeline services market growth.
The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it with pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).
The global oil & gas pipeline services market is segmented based on type, service, deployment and region.
The oil & gas pipeline services market by service is further segmented into pre-commissioning and commissioning, maintenance, inspection and decommissioning services. Pre-commissioning is an important step in constructing and operating oil and gas pipelines as it prepares a pipeline for operation by cleaning and testing it to ensure that it is free of debris and contaminants and can safely and efficiently transport the desired product. It includes activities such as hydro testing, pigging and line filling.
The Asia-Pacific oil & gas pipeline market accounts for the fastest revenue growth in the global market. Government initiatives and smart cities embed enhanced technological features such as advanced sensors for in-line inspection of oil and gas pipes. India and China's oil and gas pipeline markets have grown significantly because of natural gas export and import activities, increased spending on pipeline networks and rapidly changing gas infrastructure. For instance, the Petroleum and Gas Regulatory Board of India recently published Vision 2030 Natural Gas Infrastructure in India (PNGRB). During the forecast years, the natural gas pipeline infrastructure is expected to grow by approximately 28,000 km by the end of 2023.
The major global players in the market include Tenaris, ArcelorMittal SA, Nippon Steel Corporation, ChelPipe Group, Chevron Corporation, Maharashtra Seamless Ltd, National Oilwell Varco, Subsea 7 S.A., TechnipFMC and Royal Dutch Shell P.L.C.
The global oil & gas pipeline services market report would provide approximately 61 tables, 57 figures and 187 Pages.
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