Overview and Scope
Pipeline and process services are pre-commissioning, commissioning and maintenance services during which the installed pipeline goes through several procedures to ascertain its full functionality. The pipeline and process services are used to maintain the pipeline in good condition while it is in operation and involve several tasks performed on pipelines.
Sizing and Forecast
The pipeline and process services market size has grown strongly in recent years. It will grow from $3.78 billion in 2023 to $4.02 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to infrastructure rehabilitation, globalization of energy trade, shifts in energy sources, economic factors, infrastructure expansion.
The pipeline and process services market size is expected to see strong growth in the next few years. It will grow to $5.2 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to efficiency and cost reduction, water infrastructure services, geopolitical factors, increasing global energy demand, smart infrastructure development. Major trends in the forecast period include energy transition, maintenance and integrity, automation and digitalization, pipeline expansion projects, environmental regulations.
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Segmentation & Regional Insights
The pipeline and process services market covered in this report is segmented –
1) By Operation: Pre-Commissioning And Commissioning, Maintenance, Decommissioning
2) By Asset Type: Pipeline, Process
3) By Raw Material: Plastic, Carbon Steel, Steel
4) By End-Users: Oil And Gas Industry, Chemical Industry, Water Treatment Industry, Construction And Manufacturing Industry, Other By End-Users
North America was the largest region in the pipeline and process services market share in 2023. The regions covered in the pipeline and process services 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 oil and natural gas is expected to propel the pipeline and process services market growth. Oil and natural gas are energy resources derived from fossil fuels formed from the underground decomposition of prehistoric organisms for several to tens of millions of years. The pipeline and processes services are essential for the upkeep of pipes during the life cycle of an oil and gas pipeline so that transportation of the essential fuels can continue without any hindrance. For instance, according to India Brand Equity Foundation (IBEF), an India-based government export promotion agency, in India, the oil demand is expected to register double growth to reach 11 million barrels per day by 2045. Therefore, the increasing demand for oil and natural gas is driving the pipeline and process services market growth.
Key Industry Players
Major companies operating in the pipeline and process services market report are Halliburton Company, Baker Hughes Company, EnerMech Ltd., IKM Gruppen AS, Altus Intervention, Ideh Pouyan Energy Co, Trans Asia Pipeline Services, Techfem Spa, Enerpac Tool Group, STEP Energy Services, Chenergy Services Limited, CR Asia Group, Eunisell Limited, Alphaden Energy and Oilfield Limited, Cypress Pipeline & Process Services, Hydratight, Blue Fin Group, Tucker Energy Services, IPEC Ltd., Barnard Construction Company Inc., Sunland Construction Inc., Snelson Companies Inc., STATS Group, Intertek Group plc, Oil States Industries Inc., T.D. Williamson, MISTRAS Group Inc., Shawcor Ltd., Schlumberger Limited, Weatherford International
The pipeline and process services market report table of contents includes:
- Executive Summary
- Pipeline And Process Services Market Characteristics
- Pipeline And Process Services Market Trends And Strategies
- Pipeline And Process Services Market – Macro Economic Scenario
- Global Pipeline And Process Services Market Size and Growth
- Pipeline And Process Services Market Segmentation
- Pipeline And Process Services Market Regional And Country Analysis
……………
- Key Mergers And Acquisitions In The Pipeline And Process Services Market
- Pipeline And Process Services 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 Pipeline And Process Services Market, Segmentation By Operation, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Pipeline And Process Services Market, Segmentation By Asset Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Pipeline And Process Services Market, Segmentation By Raw Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
……………..
Table 75: Halliburton Company Financial Performance
Table 76: Baker Hughes Company Financial Performance
Table 77: EnerMech Ltd. Financial Performance
Table 78: IKM Gruppen AS Financial Performance
Table 79: ltus Intervention Financial Performance
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