Global Oil & Gas Pipeline Market is expected to grow due to new pipeline projects being commissioned & an increase in offshore activities throughout the forecast period.
According to TechSci Research report, “Oil & Gas Pipeline Market – Global Industry Size, Share, Trends, Opportunity, and Forecast 2018-2028,” the Global Oil & Gas Pipeline Market is expected to register robust growth during the forecast period, 2024-2028.
Oil pipelines transport crude oil or natural gas liquids. There are three main types of oil pipelines involved in this process: collection system, crude oil pipeline system, refinery pipeline system. Manifold systems collect crude oil or natural gas liquids from production wells. It is then transported to the refinery using the crude pipeline system. Once oil is refined into products such as gasoline and kerosene, it is transported through the refinery’s piping system to storage or distribution stations.
Natural gas pipelines transport natural gas from fixed facilities such as gas wells and import/export facilities to various locations such as homes or directly to other export facilities. This process also includes three pipelines: collection system, transmission system and distribution system. Similar to oil collection systems, natural gas collection pipeline systems collect raw materials from production wells. It is then transported using major transmission pipelines that carry natural gas from the plant to ports, refineries and cities across the country. Finally, the distribution system consists of networks that distribute products to homes and businesses. There are two types of distribution systems: main distribution lines, which are large trunk lines that transport products to nearby cities, and service distribution lines, which are smaller distribution lines that connect the main lines to homes and businesses.
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The Global Oil & Gas Pipeline Market is segmented based on type, application, source, region and competitive landscape. Based on type, the market is segmented into crude oil pipeline and natural gas pipeline. Natural gas consumption has increased significantly, reaching 4.191 billion cubic meters (bcm) in 2022, according to the International Energy Agency (IEA). This is due to increased demand for natural gas in multiple industries, including power generation and transportation. This trend is expected to continue over the next few years and is expected to significantly advance gas pipeline infrastructure. By 2030, the pursuit of environmental benefits and energy security in regions such as the Middle East, Africa and Asia-Pacific is expected to significantly increase the demand for natural gas of all fuel types. With 201.7 billion cubic meters of gas exported annually in 2021, Russia remains the largest exporter of LNG in the world. LNG trade is expected to grow significantly worldwide, increasing demand for natural gas pipeline networks. As of 2021, there are 408 new gas pipelines under construction worldwide, totaling 193,400 km, with 510 capacity expansions and existing infrastructure upgrades underway. A total of 16 gas pipelines are under construction in Europe, with a total length of 3,200 kilometers (km) and a cost of USD6.5 billion (approx.), according to the Global Energy Monitor. Approximately USD2.1 billion has been allocated for the Baltic Pipe Project, which is expected to increase the EU’s gas import capacity by 10 billion cubic meters per year. International natural gas trade is increasing due to the development of new natural gas sources such as shale gas deposits and the resulting price pressure. These developments are therefore expected to lead to increased demand for pipeline network expansion during the forecast period.
Key market players in the Global Oil & Gas Pipeline Market are: –
- Nippon Steel Corporation
- Tenaris Inc.
- TMK Group
- Mott Macdonald Group Ltd
- Shengli Oil & Gas Pipe Holdings Limited
- United States Steel Corporation
- OMK Steel Ltd
- ChelPipe Group
- Gazprom PJSC
- British Petroleum p.l.c.
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“Natural gas segment is expected to dominate the market as 408 new gas pipelines are under construction worldwide, totaling gas pipeline length to 193,400 km. A total of 16 gas pipelines are under construction in Europe, with a total length of 3,200 kilometers (km) and a cost of USD6.5 billion (approx.). Asia-Pacific is expected to dominate the market during the forecast period as by 2050, the region’s energy consumption is predicted to rise by up to 48%. The International Energy Agency (IEA) projects that China would boost global energy consumption by 30% by 2025. Additionally, China’s imports of natural gas have been rising steadily, reaching 162.7 bcm in 2021, in order to fulfil the rising demand.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Oil & Gas Pipeline Market – Global Industry Size, Share, Trends, Opportunity, and Forecast 2018-2028, Segmented By Type (Crude Oil Pipeline, Natural Gas Pipeline), By Application (Onshore and Offshore), By Source (Upstream, Midstream, Downstream), By Region, Competition,” has evaluated the future growth potential of Global Oil & Gas Pipeline Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global Oil & Gas Pipeline Market.
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