Overview and Scope
Virtual pipelines refer to flexible transportation networks that enable natural gas distribution to places without traditional pipeline infrastructure. These systems use a variety of transportation modes to deliver compressed or liquefied natural gas to remote or underserved areas.
Sizing and Forecast
The virtual pipeline market size has grown strongly in recent years. It will grow from $1.60 billion in 2023 to $1.70 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to growth in demand for natural gas, increased remote energy access, increased energy security concerns, increased focus on cost-effective energy distribution solutions, and rise in awareness about the benefits of natural gas.
The virtual pipeline market size is expected to see strong growth in the next few years. It will grow to $2.17 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to increasing urbanization, expansion of industrial sectors, increasing renewable energy integration, increasing investments in energy infrastructure, growing emphasis on reducing carbon emissions. Major trends in the forecast period include expansion into new markets, technological advancements, integration with renewable energy, regulatory support and standards, partnerships and collaborations, focus on safety and environmental compliance, demand from remote and off-grid markets, economic viability and cost competitiveness, and focus on sustainability.
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Segmentation & Regional Insights
The virtual pipeline market covered in this report is segmented –
1) By Fuel Type: Compressed Natural Gas (CNG), Liquefied Natural Gas (LNG), Other Fuel Types
2) By Mode Of Transport: Truck, Barge, Rail, Ship
3) By End-Use: Commercial, Industrial, Transportation
North America was the largest region in the virtual pipeline market in 2023. It is expected to be the fastest-growing region in the forecast period. The regions covered in the virtual pipeline market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing demand for natural gas is expected to propel the growth of the virtual pipeline market going forward. Natural gas is a combustible gas comprised largely of methane that is discovered underground and used as a fuel source for heating, cooking, electricity generation, and transportation. The demand for natural gas is increasing due to its role as a cleaner-burning fossil fuel, its versatility in power generation, industrial processes, and heating, and its potential as a transition fuel in the global shift towards lower-carbon energy sources. Virtual pipelines are utilized in the transportation of natural gas, primarily in areas where traditional pipeline infrastructure is unavailable, economically impractical, or insufficient to meet demand. For instance, in March 2023, according to a report shared by the Energy Information Administration, a US-based government agency, the average daily consumption of natural gas in the United States hit an all-time high of 88.5 billion cubic feet per day in 2022, representing a 5% increase over 2021, with natural gas consumption reaching 4.5 billion cubic feet daily (Bcf/d). Furthermore, in 2022, US end-user sectors consumed 38% of total natural gas. Therefore, the increasing demand for natural gas is driving the growth of the virtual pipeline market.
Key Industry Players
Major companies operating in the virtual pipeline market report are Eni S.p.A.; National Petroleum Limited (Petronas); General Electric Company; Compass Natural Gas Partners LP (CNGP); Baker Hughes Company; Kinder Morgan Inc.; Wärtsilä Corporation; Snam S.p.A.; LightSail Energy Inc.; Hexagon Composites ASA; Broadwind Inc.; Pentagon Energy LLC; Certarus Ltd.; SENER Grupo de Ingeniería S.A.; Stabilis Solutions Inc.; FIBA Technologies Inc.; Galileo Technologies S.A.; Gas Malaysia Berhad; NG Advantage LLC; Cobey Inc.; REV LNG LLC; OsComp Systems Inc.; CNG Services Limited; Xpress Natural Gas LLC; Marlin Gas Services Ltd.
The virtual pipeline market report table of contents includes:
- Executive Summary
- Virtual Pipeline Market Characteristics
- Virtual Pipeline Market Trends And Strategies
- Virtual Pipeline Market – Macro Economic Scenario
- Global Virtual Pipeline Market Size and Growth
- Virtual Pipeline Market Segmentation
- Virtual Pipeline Market Regional And Country Analysis
……………
- Key Mergers And Acquisitions In The Virtual Pipeline Market
- Virtual Pipeline Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Virtual Pipeline Market, Segmentation By Fuel Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Virtual Pipeline Market, Segmentation By Mode Of Transport, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Virtual Pipeline Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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Table 74: Eni S.p.A. Financial Performance
Table 75: National Petroleum Limited (Petronas) Financial Performance
Table 76: General Electric Company Financial Performance
Table 77: Compass Natural Gas Partners LP (CNGP) Financial Performance
Table 78: Baker Hughes Company Financial Performance
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