ID: MRFR/E&P/7544-HCR | February 2021 | Region: Global | 111 pages
Pipeline & Process Services Market size is projected to reach USD 4.8 Billion by 2027, at a CAGR of approximately 5.2% between 2020 and 2027.
The major factors driving the growth of the global pipeline & process services market include growing natural gas consumption and high investments lined up for pipeline business procedures. For instance, in August 2019, GAIL India Ltd. has planned to invest 45000 Crore to expand the national gas grid and city gas pipeline network. This would help for the retailing of CNG to automobiles and piped natural gas to household kitchens in the country. However, several oil and gas construction projects in deep-water explorations would act as an opportunity for the global pipeline & process services market.
The key players operating in the Global Pipeline & Process Services Market are Halliburton (US), BHGE (US), Enermech (Scotland), Hydratight (UK), Techfem SpA (Italy), Altus Intervention (Norway), Blue Fin Group (US), Chenergy Services Limited (Nigeria), IKM Ocean Design (Norway), Tucker Energy Services (US), IPEC Ltd. (UK), and Trans Asia Pipeline & Specialty Services (UAE).
Many major players such as Halliburton, BHGE, and Hydratight are actively focusing on signing contracts and agreements with utilities and industries to provide pipeline & process services. The major pipeline services companies are also focusing on pipeline and process services industry in order to become a wholesome service provider. For instance, in June 2018, BHGE has signed a contract with Chevron Corporation (US) to supply pipeline pre-commissioning services along with gas turbines and subsea production systems for its Gorgon LNG Project Phase 1. This contract has helped the company expand its business in the US. However, problems with cross-border oil and gas pipeline projects owing to technical and political instability in the Middle East and the Asia Pacific regions is expected to restrain the growth of the pipeline & process services market. Similarly, Cypress Pipeline & Process Services is engaged in providing services to the upstream, midstream, and downstream oil and gas industries.
The global pipeline & process services market has been segmented based on asset type, operation, end-user, and region. Based on asset type, the global market is segmented into pipeline and process. The pipeline segment is expected to hold the largest share of the market and is expected to be the fastest-growing segment during the forecast period as the pipeline is one of the most crucial and affordable modes of transportation to ship a few sorts of items, such as water and synthetic compounds. Based on operation, the global market is segmented into pre-commissioning & commissioning, maintenance, and de-commissioning. The pre-commissioning & commissioning segment is expected to hold the largest market share and grow with the highest CAGR during the forecast period. Based on end-user, the global market has been segmented into power generation, chemicals & refined products, water & wastewater, oil & gas, and others. The oil & gas segment is expected to hold the largest market share and be the fastest-growing segment during the forecast period due to the transmission of crude oil and natural gas over long distances across states, countries, and continents.
The Global Pipeline & Process Services Market is expected to witness high growth during the forecast period owing to the rising demand for energy and the discovery of new gas and oil reserves.
Based on the region, the global pipeline & process services market is segmented into Asia-Pacific, North America, Europe, the Middle East & Africa, and South America. North America holds the largest pipeline & process services market share due to the transportation of the produced crude & natural gas from the remote locations in the region.
The term pipeline and process services deal with two categories, pipeline services and process services. The pipeline services include activities for distribution of the pipeline network such as pipeline flooding, gauging & cleaning, offshore pipeline commissioning & drilling services, and others. Pipeline Processes services include activities that are needed to maintain the installed pipeline network such as nitrogen purging, chemical cleaning, hydrocarbon decontamination, and accelerated cooling.
|Market Size||2027: USD 4.8 Billion|
|CAGR||5.2% CAGR (2020-2027)|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Asset Type, Process, Operation and End Users|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Halliburton (US), BHGE (US), Enermech (Scotland), Hydratight (UK), Techfem SpA (Italy), Altus Intervention (Norway), Blue Fin Group (US), Chenergy Services Limited (Nigeria), IKM Ocean Design (Norway), Tucker Energy Services (US), IPEC Ltd. (UK), and Trans Asia Pipeline & Specialty Services (UAE)|
|Key Market Opportunities||
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The global Pipeline & process service is expected to record a substantial market valuation of USD 4.8 billion over the review period.
The global Pipeline & process service is projected to register a moderate 5.2% CAGR in the forecast period.
The water and wastewater segment is slated to expand as the fastest-growing segment.
The APAC region is expected to witness the highest growth over the review period.
A few major market players operating in the global Pipeline & process service are BHGE, Halliburton, and Hydratight among others.