New York, US, June 12, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Report by MRFR/Market Research Future (MRFR), Oil and Gas Pipeline Market Information by Type, Application, Sector, and Region - Forecast till 2032", The oil and gas pipeline market can anticipate rising from USD 27.3 billion in 2023 to USD 41.9 billion by 2032, at a healthy rate of 5.50% over the appraisal period (2023-2032).
Oil and Gas Pipeline Market Overview
Petroleum, oil, natural gas, and biofuels, among others, can be transported efficiently, reliably, and safely by using onshore oil and gas pipelines, which are underground thoroughfares. They are typically made of steel or plastic tubes that are buried for transportation in the oil and gas sector.
Oil and Gas Pipeline Market Competitive Landscape:
The reputed companies in the market for oil and gas pipelines include
- Gazprom
- China National Petroleum Corporation
- Chevron Corporation
- ConocoPhillips
- Tenaris S.A.
- TMK
- National Oilwell Varco
- Maharashtra Seamless Ltd
- General Electric. SaipemSip.A
- Subsea 7 S.A. TechnipFMC
- EVRAZ North America
- Welspun Corp Ltd.
- Chelpipe
- Europipe
- Eni S p.A
- Royal Dutch Shell p.I.c
- Among others.
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Oil and Gas Pipeline Market USP Covered:
Oil and Gas Pipeline Market Drivers:
Due to the following benefits, there is an increasing need for oil and gas pipelines:
- They guarantee the continuous movement of petrol and crude oil from the oilfield to the refineries, as well as the movement of the finished goods to the consumer locations.
- A cheap and secure form of transportation is required because of the oil and gas demand centers.
- Increased drilling for oil and gas will result in more crude oil and natural gas being produced, which must be transported via pipelines from the wellhead to collection stations and processing facilities, and from those locations to refineries and tanker loading facilities.
Intelligent drone vehicles are one of the advancements in pipeline inspection. They provide a low-cost way of visual pipeline inspection and are connected to the Internet of Things (IoT). When there are issues or restrictions with network connectivity, these drones may still operate on their own. In these situations, the drone collects the data and continues to check the pipeline portion inside the constrained network region. When it reaches the portion of the pipeline where the entire network is accessible, it re-establishes the connection and transfers the previously obtained data. Therefore, these developments in pipeline inspection technology will improve the safety and security of oil and gas pipelines, increasing their adoption over other means of oil and gas transportation. In the years to come, this will undoubtedly create a favorable business environment.
Oil and Gas Pipeline Market Restraints:
Since the price at which crude oil is sold is set by the market, but production expenses are typically fixed, upstream oil and gas companies suffer when crude oil prices decline. Therefore, the investment choices and earnings of oil and gas businesses will be negatively impacted by costly and capital-intensive E and P operations.
Report Scope:
| Report Metrics | Details |
| Market Size 2032 | 2032: USD 41.9 Billion |
| CAGR during 2023-2032 | 5.50% CAGR |
| Base Year | 2022 |
| Forecast | 2023-2032 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, Sector, and Region |
| Key Market Opportunities | Rising demand for crude oil and natural gas in developing countries. |
| Key Market Dynamics | Increasing household use of gas pipes. |
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Oil and Gas Pipeline Market COVID 19 Analysis
In the past 12 years, the oil and gas industry has experienced three price collapses. Following the first two shocks, the sector recovered and operations resumed as usual. This instance is unique. The current situation combines an unexpected reduction in demand, a supply shock, and a global humanitarian disaster. Furthermore, the sector's structural and financial health are worse than they were during prior crises. Poor returns have been attributed to the emergence of shale, an abundant supply, and generous financial markets that ignored the weak capital discipline. Experts believe that change is inevitable in the current environment, where prices have reached 30-year lows and societal pressure is increasing. What was originally expected to be one of the most revolutionary periods in the industry is accelerated by the COVID-19 problem.
The energy transition will continue to be challenging. Governments are currently concentrating their efforts on controlling the COVID-19 epidemic and minimizing its economic repercussions, which is diverting attention away from the energy transition. Despite this, the argument over the environment and climate is not going away. The industry will continue to be forced to decarbonize due to the innovation that has reduced the cost of wind, solar, and batteries. The industry has historically been under to pressure from investors and lenders, but this pressure may be minor in comparison to what is ahead. The current crisis may even hasten the energy transition and decarbonization.
Oil and Gas Pipeline Market Segmentation
By Type
Crude oil and natural gas are included in the market segmentation for oil and gas pipelines, depending on the type. A sizeable portion of the market is accounted for by the natural gas segment.
By Application
Onshore and offshore are two application-based segments of the oil and gas pipeline industry. The offshore industry has a substantial market share.
By Sector
Upstream, midstream, and downstream are the several sectors that make up the oil and gas pipeline market segmentation. The mid-stream sector is anticipated to dominate the global oil and gas pipeline market throughout the anticipated time frame. This is due to the widespread use of pipelines for the delivery of raw materials.
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Oil and Gas Pipeline Market Regional Insights
In light of the significant energy consumption in growing economies like India and China, the Asia Pacific region occupies a sizable market share. Furthermore, the industry is expanding as a result of positive government initiatives to address the growing demand for oil and gas. In the following six years, the pipeline network of India, one of the top users of gas and oil, is anticipated to treble. Over 16,000 kilometres of new pipelines are being built, according to plans outlined by the Indian government, which is accelerating market expansion. To expand its distribution networks and pipeline transmission, China also declared its intentions to quicken the building of oil and gas pipelines. To address the country's energy needs, the Indonesian government is also making large investments in the building of pipelines for the oil and gas sector. The market growth for the onshore oil and gas pipeline in the Asia Pacific region is being boosted by such government initiatives, along with a number of pipeline infrastructure projects, which are boosting the market growth for the industry as a whole.
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