Home / Businesswire / Global Oil and Gas Pipeline Market to Grow by USD 28.5 Billion during 2019-2023 |Technavio

Global Oil and Gas Pipeline Market to Grow by USD 28.5 Billion during 2019-2023 |Technavio

LONDON–(BUSINESS WIRE)–lt;a href="https://twitter.com/hashtag/Energy?src=hash" target="_blank"gt;#Energylt;/agt;–Technavio’s latest market research report on the global oil and gas
pipeline market predicts the market to witness a CAGR of close to 6%
during the forecast period. This research report segments the market by
type (gas and oil) and geography (Europe, South America, MEA, North
America, and APAC).


Advances in pipeline inspection

Safety has become the most critical factor in the oil and gas pipeline
market over the past few decades. The development of advanced
technologies to monitor oil and gas pipelines remotely has enabled
operators to detecting potential problems in the entire pipeline. In
addition, the use of supervisory control and data acquisition (SCADA)
systems further allows oil and gas companies to control, monitor,
gather, and process real-time data. These advanced systems aid in the
effective and efficient monitoring of the pipeline control valves at
remote locations including the mountains. Furthermore, aerial
observation has also started gaining importance in the safety inspection
of oil and gas pipelines. Intelligent drones gather data from the
connected sensors and transmit it to the control center. Growing
advances in pipeline inspection, will boost the growth of the global
oil and gas pipeline market
during the next few years.

Gas pipeline type segment will witness the highest share.

The growing shift toward natural gas as a key fuel for power generation
and household heating is resulting in the high market share of the gas
pipeline segment. Abundance, versatility, and clean burning are some of
the characteristics of natural gas that are supporting the growing
demand for natural gas worldwide. The use of natural gas is also
witnessing an exponential increase in fertilizer plants, power
generation units, petrochemical plants, along with residential and
commercial sectors in countries including China and the US. Therefore,
the growing demand for natural gas across emerging and advanced
economies will drive market growth during the forecast period.

“The demand for natural gas is growing significantly in the
transportation sector. CNG and LNG are being used for road transport,
particularly in cars, buses, trucks, and in ships for marine transport.
Various emerging economies including India and China are encouraging the
use of clean energy-powered vehicles to reduce pollution. Thus, the
growing demand for natural gas from the transportation sector will drive
the global oil and gas pipeline market during the forecast period,” says
a senior research analyst at Technavio.

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Oil and gas pipeline market to witness fastest growth in the APAC
region.

APAC will witness fastest growth in the oil and gas pipeline market
during the forecast period owing to increased oil and gas E&P activities
in the region. Several companies in the oil and gas pipeline market are
investing in the refining sector of countries including Singapore,
Malaysia, and Pakistan. Increasing investments from market players in
refineries will further lead to a surge in the production of refinery
products. This in turn will drive the oil and gas pipeline market demand
in the forthcoming years. Furthermore, increasing initiatives by the
governments of various countries towards strengthening the oil and gas
pipeline network will further drive market growth in the APAC region.

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Some of the key topics covered in the global
oil and gas pipeline market analysis
include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

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