Pipeline and Process Services Market Forecasts to 2030 - Global Analysis By Asset Type, Raw Material, Operation, End User and by Geography

According to Stratistics MRC, the Global Pipeline and Process Services Market is accounted for $3.85 billion in 2023 and is expected to reach $6.39 billion by 2030 growing at a CAGR of 7.5% during the forecast period. The optimization of manufacturing processes and the effective long-distance transportation of liquids and gases are dependent on pipeline and process services, which are essential to industries. Moreover, oil and natural gas can be moved safely thanks to pipelines, and quality control and production coordination are just two examples of the services provided by process services. Collectively, they facilitate the efficient allocation of resources and make substantial contributions to cost containment, industry standard observance, and operational effectiveness, all of which are critical to maintaining productivity across a range of industries.

According to the International Pipeline and Process Services Association, the seamless integration of pipeline and process services is fundamental for ensuring the reliable transportation of materials and the optimization of manufacturing processes across diverse industries.

Market Dynamics:

Driver:

Increasing demand for energy

The need for strong pipeline and process services is fueled by the world's energy consumption rising exponentially as a result of expanding economies and growing populations. Building large pipeline networks becomes essential as countries work to ensure a steady supply of energy. Additionally, the search and extraction of unconventional energy sources, which calls for sophisticated services to move these resources effectively, emphasizes this driver even more.

Restraint:

Environmental issues and resistance

The market for pipeline and process services is constrained by community opposition and increased environmental awareness, even in spite of the growing demand for energy resources. Project approvals are hampered by worries about possible ecological effects, habitat disruption, and water contamination linked to pipeline construction. Furthermore, obstacles such as legal issues, regulatory scrutiny, and community activism make comprehensive environmental impact assessments and community engagement plans essential for the development of sustainable projects.

Opportunity:

Increase in capturing and storing carbon

There are new opportunities in the field of carbon capture and storage due to the increased focus on reducing climate change. Transporting captured carbon dioxide for storage or use in different industries can be done with pipeline infrastructure. Moreover, businesses in the pipeline and process services sector can help mitigate climate change and diversify their service offerings by investing in CCS initiatives, as governments and businesses do.

Threat:

Increased uncertainties in the economy

The financial viability of pipeline projects is threatened by economic uncertainties like commodity price fluctuations or global recessions. Market expansion may be hampered by reduced energy infrastructure investment, difficult financing situations, and postponed project approvals. Additionally, to effectively navigate economic uncertainties, businesses must put risk mitigation strategies into practice, diversify their revenue streams, and maintain financial resilience.

Covid-19 Impact:

The market for pipeline and process services has been significantly impacted by the COVID-19 pandemic, which has brought with it both opportunities and challenges. The industry's resilience has been put to the test by the early disruptions, which included workforce constraints brought on by lockdowns and travel restrictions, delays in projects, and disruptions in the supply chain. Moreover, to improve operational efficiency, the pandemic has hastened the adoption of digital technologies for automation, data analytics, and remote monitoring.

The Carbon Steel segment is expected to be the largest during the forecast period

It is projected that the carbon steel segment will command the largest market share. Because carbon steel is strong, durable, and affordable, it is widely used in many different industries. Carbon steel is a common material used in manufacturing, infrastructure, and construction projects because of its strength and adaptability. Additionally, its supremacy is attributed to its capacity to satisfy a wide range of industrial needs, from the fabrication of machinery and equipment to structural applications.

The Water Treatment Industry segment is expected to have the highest CAGR during the forecast period

The industry that is at the center of the market is the water treatment industry, which has continuously shown the highest CAGR. Growing worries about water scarcity, strict environmental laws, and a growing focus on sustainable water management techniques are driving this industry's expansion. Furthermore, the water treatment industry continues to be a major player in addressing the urgent problems with water quality and supply that societies around the world are facing, which makes it a desirable and rapidly changing market for innovation and investment.

Region with largest share:

It is projected that the Asia-Pacific region will command the largest market share. The region is well-known due to its quick industrialization, thriving manufacturing sector, and sizable population base that fuels demand from consumers. In this economic environment, nations like China, India, and Japan are essential because they promote significant market expansion in a variety of industries. Moreover, the Asia-Pacific region continues to attract businesses and investors due to factors like growing infrastructure projects, technological advancements, and advantageous economic policies.

Region with highest CAGR:

The market's highest CAGR is projected to be seen in the Middle East and Africa (MENA) region, owing by large-scale infrastructure investments, especially in industries like renewable energy, construction, and oil and gas. Rapid economic development has occurred in nations like Saudi Arabia, Qatar, and the United Arab Emirates, which has created a favourable atmosphere for market expansion. Additionally, the MENA region has the potential to experience rapid growth in a number of industries due to its advantageous geographic location, efforts to diversify its economies, and improvements to its industrial capabilities.

Key players in the market

Some of the key players in Pipeline and Process Services market include EnerMech, Dexon Technology PLC, BlueFin Services, Techfem, Altus Intervention, Oceaneering International, Inc, Step Energy Services, Halliburton, Enerpac Tool Group, Baker Hughes Company and Chenergy Services Limited.

Key Developments:

In January 2024, Bluefin launched a new ShieldConex capability providing token and/or EMV/P2PE based processing services to any payment processor, as well as protecting Personally Identifiable Information and Protected Health Information (PII/PHI) endpoints. For enterprise merchants looking for a universal solution, the endpoint-agnostic upgrade to ShieldConex unlocks enormous value by minimizing the PCI and PII footprint while avoiding long-term processor lock in.

In August 2023, Integrated solutions specialists EnerMech has been awarded a five-year multi-million contract by TotalEnergies EP Congo for crane and lifting maintenance at a new facility to be built at Pointe-Noire, the second largest city in Congo. The work scope will include specific maintenance of crane and lifting equipment, and onshore and offshore parts supply for three offshore sectors which include Likouf and Nkossa. The agreement also includes riser pulling systems, mooring and tensioning systems.

In May 2023, Dexon Technology, a Thai company that provides pipeline inspection services, has decided to expand its business into the US and the Netherlands by using proceeds from its recent fundraising scheme. The firm's board of executives approved the plan by setting up a wholly-owned subsidiary named Dexon Technology USA Inc, with registered capital of US$1 million, or around 33.8 million baht.

Asset Types Covered:

• Pipeline
• Process
• Other Asset Types

Raw Materials Covered:

• Plastic
• Carbon Steel
• Steel
• Other Raw Materials

Operations Covered:

• Pre-commissioning & Commissioning
• Maintenance and Inspection
• Decommissioning
• Other Operations

End Users Covered:

• Oil and Gas Industry
• Chemical Industry
• Water Treatment Industry
• Construction and Manufacturing Industry
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances