23 September 2019
Pipeline & Process Services Market Report 2019-2029: Forecasts by Asset Type (Pipeline: Transmission, Distribution; Process: FPS, Refinery& Petrochemical, Gas Storage & Processing), Operation (Pre-commissioning & Commissioning, Maintenance, Decommissioning), by Region and Analysis of Leading Companies indicates that the Global Pipeline & Process Services Market was valued at $7.24 billion by 2029.
The demand for crude oil, natural gas and refined products is anticipated to rise in the coming years due to the growing population. Governments in several nations either invest or encourage private sector investment, construct networks of pipelines across their nations, and supply natural gas and refined goods to end customers. As of 2017, over 40,000 miles of pipeline network were under building worldwide, which is anticipated to drive the market for pipeline services during the forecast period.
Increasing demand for energy and the discovery of new gas and oil reserves globally are the main drivers of the global pipeline processing and pipeline services industry. Currently, oil and gas manufacturing has risen significantly across the globe. It is also anticipated that the demand will be supplemented by the implementation of new energy sources and the implementation of advance drilling technology. Moreover, it is anticipated that the changing focus on productive wells will increase oil and gas output in the near future, also increasing pipeline demand.
During the forecast period, the process segment of the pipeline & process services industry is projected to increase at the fastest rate. This is primarily due to the greater capacity additions during the forecast period at the gas handling centres and LNG & FPS ships. Increasing refinery capacity decommissioning in the African region of Europe & Sub-Saharan owing to the change in focus to renewables is also the process segment's growth driver.
Between 2019 and 2029, North America is anticipated to dominate the global market for pipeline & process services. Recent discovery of certain new extraction methods in highly distant areas has opened up various oil & gas shale regions. The transportation from these distant places of the manufactured crude & natural gas will drive the region's general pipeline industry.
Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to email@example.com or call her on +44 (0) 207 336 6100.
Visiongain is one of the fastest growing and most innovative independent media companies in Europe. Based in London, UK, Visiongain produces a host of business-to-business reports focusing on the automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors.
Visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port of call for the business professional who needs independent, high-quality, original material to rely and depend on.
Supply gap due to production halt brought about by COVID-19 pandemic is expected restrict sales growth. However, the rising demand for coal tar products from the healthcare sector is expected to stabilize market growth during the forecast period.
25 September 2020
Increasing raw material prices is expected to hinder market growth. Furthermore, short term demand drops from the industrial segment due to COVID-19 lockdowns is expected to decline circuit breaker sales.
25 September 2020
The expanding offshore drilling operations carried out under high-pressure and high temperature conditions, has resulted in the demand for choke and kill manifolds to witness a significant rise.
25 September 2020
Oil country tubular goods are likely to be accelerated through an anticipated recovery of crude oil prices and strategic measures taken by the companies operating in the upstream sector to increase the E&P activities.