Pune, India, March 2020, MRFR Press Release/- Market Research Future has published a Half-Cooked Research Report on the Global Pipeline & Process Services Market.
Global Pipeline & Process Services Market is projected to be valued at USD 4.8 Billion, at 5.2% CAGR during the forecast period, 2022–2030. The pipeline & process services deliver pre-commissioning services for the oil and gas construction sector through detailed engineering and project management. It also provides maintenance, shutdown, and turnaround services to the upstream and midstream sectors of the oil & gas industry.
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Global Pipeline & Process Services Market, 2022–2030
In 2018, North America dominated the global pipeline & process services market in terms of share: MRFR
Based on the region the global pipeline & process services market has been segmented into five regions, namely, North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. North America will dominate the pipeline & process services market during the forecast period. In the US, approximately 70% of crude oil and petroleum products are shipped through pipelines, whereas in Canada around 97% of natural gas and petroleum products are shipped through pipelines. As the demand for energy produced in North America continues to grow, the exploration and production would continue to move further. Moreover, the recent discovery of certain new extraction techniques has opened multiple oil & gas shale regions in extremely remote areas. The transportation of the produced crude & natural gas from these remote locations is expected to drive the overall pipeline & process services market in the region.
The pipeline & process services market in Asia-Pacific is dominated by China due to the increasing demand for crude oil & natural gas in the country.
The pipeline & process services market in the Middle East & Africa is expected to be dominated by Saudi Arabia owing to the development in new projects and expansions of refineries and gas storage/processing.
The pipeline & process services market in Europe is dominated by Norway, owing to an increase in the production of oil and natural gas in the country as compared to other countries in Europe. In the year 2018, the production of oil in Norway was 1844 thousand barrels per day which is the maximum in European countries. In Europe, Germany is expected to dominate the market owing to the upcoming oil and gas pipeline in the country. Russia is expected to be the fastest-growing country-level in the region.
The global pipeline & process services market has been segmented based on asset type, operation, end-users, and region. Based on asset type, the global market is segmented into pipeline and process. The pipeline segment is expected to dominate the global market and is likely to grow with the highest CAGR. Based on operation, the global market is segmented as pre-commissioning & commissioning, maintenance, and de-commissioning. The pre-commissioning & commissioning segment is expected to grow with the highest CAGR during the forecast period. Based on end-users, the global market is segmented as power generation, chemicals & refined products, water & wastewater, oil & gas, and others. The oil & gas segment is expected to hold the largest market share during the forecast period.
The Global Pipeline & Process Services Market is expected to grow at 5.2% CAGR during the forecast period.
Scope of the Report
This report provides an in-depth analysis of the global pipeline & process services market, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights the market size and shares for North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. The report also presents a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global pipeline & process services market by asset type, operation, end-users, and region.
The Key Players operating in the Global Pipeline & Process Services Market are Chenergy Services Limited (Nigeria), Tucker Energy Services (US), Altus Intervention (Norway), Techfem SpA (Italy), Blue Fin Group (US), Halliburton (US), Trans Asia Pipeline & Specialty Services (UAE), Enermech (Scotland), Hydratight (UK), BHGE (US), IPEC Ltd. (UK), and IKM Ocean Design (Norway).