ID: MRFR/E&P/6212-HCR | February 2021 | Region: Global | 111 pages
It is noted that the oil and gas pipeline market is expected to project at a CAGR of 6% in between the forecast period of 2021 to 2026.
As per the International Energy Agency, the demand for oil and gas was marked to rise by one million barrels daily on an average per year till the forecast period from 97 million BPD in the year of 2018. The market furnishes a framework about the oil and gas pipeline business and gives key information about the chain structure. Miles and miles of oil and gas pipelines are being put forward in many countries. Due to the rise in employment level, much additional indisposable income has been invested in this sector.
COVID 19 ANALYSIS
COVID 19 had a bad impact on the oil and pipeline market. Economical conditions of the companies were reduced during this period. Oil and gas pipeline contracts in most of the countries received delays due to the shutdown and lockdown conditions imposed by the government. The United States and India were the most affected countries. Both these countries witnessed a decline in power supply consumption and the obstruction in traveling hugely impacted the gas consumption in these countries.
The government has taken many severe actions like wearing masks and especially N95 masks, wearing gloves, and using sanitizers regularly. If anyone tried to violate the rules, he was made to pay a huge high with a certain sum of money.
The key players take all the safety measures necessary for the transportation of gas and oil. These key players give priority to growth prospects in the earlier segment besides trying different strategies for maintaining their positions. They carry out different strategies to increase their future opportunities. Some of the competitors are Gazprom, China National Petroleum Corporation, Chevron Corporation, ConocoPhillips, Tenaris S.A., TMK, National Oilwell Varco, Maharashtra Seamless Ltd, and Saipem s.p.a. The market has been moderately fragmented without the presence of any actual dominant key players but the presence of key players operating in this competitive market ground. These companies are investing a huge sum in this field to make it more profitable.
Drivers- the availability of raw material at low costs as compared to other resources and fossil fuels helps in driving the market value. Availability of electricity to multiple sectors helps in bolstering up the market demand.
Opportunities- expansion of oil and gas pipeline capacities has been marked which has brought great opportunities to the market. The government commissioning for new pipeline projects has helped in meeting the demand of the market. Optimizing the system used for production and other environmental utility increases the chances of increasing size.
Challenges- The most challenging factor so experienced by the oil and gas pipeline industry is the shifting of the market towards the renewable and sustainable source of energy for the generation of power is a big threat to the modern-day. Like in the case of delivery of hydrogen gas, the modest modifications required as per analyses and research becomes a challenging factor. The companies governing the disposal of wastewater are more demanding and it gives major compliance for the industrial sectors.
Cumulative growth- the use of natural gas rises which owes to the rise in demand for natural gas in the end-users and multiple industries. An increase in power generation and transportation facilities within the population is expected to enhance the infrastructure at a significant level. The rise in costs of gas and oil is expanding the international trade of natural sources, which is also a growth developing factor for the market. The upsurge in the investment according to the present market conditions and the market trends along with some conventional activities has increased the market size.
Restraints- some of the regions are running by shallow water developments and stable infrastructure has hampered the market growth. If the economic conditions of the country are weak and instability of the political conditions act as a restraining factor for expanding the oil and gas pipeline industry. The high costs of the construction of pipelines are the hampering factor for growth.
By type- the market is divided based on type which includes both positive displacement and dynamic displacement. Based on application, the oil and gas compressor industry is categorized into upstream, downstream, and midstream. Based on geographical regions, the market is distinguished into Asia Pacific regions which includes China, India, Australia, Malaysia, Japan, and the rest of the world. It also includes some of the North American regions like the United States and Canada, South American regions like Brazil and Argentina, European regions like Norway, United Kingdom, and Russia, and the Middle East and African regions like Saudi Arabia, United Arab Emirates, Qatar, Nigeria, Algeria, Egypt and rests parts of the World.
By technology- advanced technology made revolutionary changes which were imposed for smooth and protective transportation. This technology provided some of the growth lucrative opportunities which helped the companies to hold huge market value. Certain advancements include pad drilling, the use of improved design pipelines, and the use of high-quality drilling efficiencies. Technology has many good advantages on the environment as the producers have used fewer rigs and can extract more volume of oil at a low cost and in less time. The supply chain for production has become easy and logistics and revolutionary solutions have taken place. The Digital revolution has also evolved which has helped the market players in reshaping their assets. The technology has improved the productivity of oil and gas manufacturing. Development in the Internet of things sector was also marked which has monitored people, vehicles, and types of machinery for optimizing the operations.
The Asia Pacific region covers a large area of oil and gas pipeline market share because it has been noted that this region is very much famous for using oil and gas through the pipeline. China and India are marked to be the dominant consumer of oil and gas supply through the pipeline. India wanted to launch a pipeline project for the state of Jammu and Kashmir. Moreover, India wanted to expand its market share to USD 66 billion. The Middle East and African regions received huge environmental benefits and the battle for energy security in various regions has brought substantial growth in the oil and gas pipeline industry. Moreover carrying out shallow-water activities across the regions of Saudi Arabia, Qatar, Kazakhstan, and Iran.
The report summarises the gal and oil pipeline in several regions of the world. It also provides in-depth information about the market overview where the major key players have been identified through key research. It gives a good evaluation about the market share so acquired by the competitors. To attain top-notch positions, this report helps the clients by giving information about the competencies and capacities. It also provides data regarding the upsurging trends and challenges about the influential size. It gives a huge prediction of the contribution of the majority of the market division to the substantial growth prospectus.
|Market Size||2027: Significant Value|
|CAGR||~5.40% CAGR (2020-2027)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||type, application, sector|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Gazprom, China National Petroleum Corporation, Chevron Corporation, ConocoPhillips, Tenaris S.A., TMK, National Oilwell Varco, Maharashtra Seamless Ltd, General Electric, Saipem S.p.A, Subsea 7 S.A, TechnipFMC, EVRAZ North America, Welspun Corp Ltd., Chelpipe, Europipe, Eni S.p.A, and Royal Dutch Shell p.l.c|
|Key Market Opportunities||
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
Saipem S.p.A, National Oilwell Varco, TMK, Maharashtra Seamless Ltd, and General Electric are functioning in the market.
The North American region is projected to enhance the market in the impending period.
A 5.40% CAGR is anticipated to push the global market in the upcoming years.
The adoption of advanced technologies is estimated to guide the progress of the market.
The fluctuations in the oils and gas sector are estimated to spurt the market.