New York, United States , March 23, 2023 (GLOBE NEWSWIRE) -- The Gas Pipeline Infrastructure Market Size is to grow from USD 2,635.9 Billion in 2021 to USD 3,480.9 Billion By 2030, at a Compound Annual Growth Rate (CAGR) of 3.62% during the forecast period. The rising use of natural gas in various industries such as power generation, chemical, industrial, residential, and commercial will drive the growth of the gas pipeline infrastructure market.
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Infrastructure for gas pipelines enables the delivery of gas and refined products safely to the required location while maintaining constant pressure and flow conditions. Long-distance transport is aided by nationwide or intrastate pipelines, while gathering lines carry from wellheads to central collecting facilities for processing and storage. Another reason driving the growth of the global gas pipeline infrastructure market is the increasing number of exploratory activities, the low cost of natural gas, and the high efficiency provided by natural gas. Furthermore, rising population and industry expansion, especially in developing nations, would benefit corporate global growth. However, the major market restraint for the gas pipeline infrastructure market is the high initial cost of building gas pipelines.
The transmission segment dominated the market with the largest share over the forecast period.
Based on operation, the Global Gas Pipeline Infrastructure Market is segmented into transmission, gathering, and distribution. Among them, the transmission segment dominated the market with the largest share over the forecast period. Increased consumption in end-use categories such as the growing number of gas-fired power plants, the chemical industry, the manufacturing industry, and the residential and commercial sectors are expected to drive segment expansion.
The 25-36-inch segment is witnessing significant CAGR growth over the forecast period.
On the basis of diameter, the Global Gas Pipeline Infrastructure Market is segmented into less than 16-inch, 17-24-inch, 25-36 inch, and greater than 36 inches. Among these, the 25-36-inch segment is expected to grow at a significant CAGR during the forecast period. The funding for modifying and developing the pipeline infrastructure that is currently in place has been approved by the various governments.
Browse key industry insights spread across 190 pages with 130 market data tables and figures & charts from the report on the "Global Gas Pipeline Infrastructure Market Size, Share, and COVID-19 Impact Analysis, By Operation (Transmission, Gathering, Distribution), By Diameter (Less Than 16 Inch, 17-24 Inch, 25-36 Inch, Greater Than 36 Inch) By Application (Pipeline, Valves, Compressor, Metering, Others) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030." Get Detailed Report Description Here:
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The compressor segment is dominating the market with the largest market share of 53% over the forecast period.
Based on application, the global gas pipeline infrastructure market size is segmented into pipeline, valves, compressor, metering, and others. Among these, the passenger vehicles segment dominates the market with the largest market share of 53% over the forecast period owing to the rising trend of extending new gas sources and boosting pipeline capacity to access more amounts.
North America is dominating the market with the largest market share of 54%.
North America is expected to remain the industry's leading region during the forecast period, with a 54% market share. More than 90% of the total pipeline length in the region's primary markets for gas pipeline infrastructure is in the United States and Canada.
During the projection period, Asia Pacific is expected to grow at the fastest rate. China is the world's third-largest natural gas importer, trailing only the United States and Russia. India is updating its current gas pipeline networks in order to meet increased demand. Iran is estimated to have the greatest market share in the Middle East and Africa gas pipeline infrastructure market over the forecast timeframe
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Recent Developments
In November 2022, Enbridge Inc. announced the successful completion of an open season for increased transportation capacity on the T-South segment of its B.C. Pipeline (T-South), a natural gas pipeline system, which originates near Chetwynd, British Columbia (B.C.) and extends south to the Canada-U.S. border at Huntingdon-Sumas.
In September 2021, Saipem entered into a Memorandum of Understanding with Saudi Aramco for a new potential company in Saudi Arabia. Saipem has a long-standing collaboration with Saudi Aramco, including the execution of a wide set of activities, from onshore and offshore engineering and construction to drilling activities, with onshore and offshore rigs.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Gas Pipeline Infrastructure Market include TransCanada Pipelines Limited, Alliance Pipeline Corporation, Engas, Gazprom, MRC Global, National Oilwell Varco, Perusahaan Gas Negara, Kinder Morgan, Saipem., and among others.
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