Dublin, May 08, 2023 (GLOBE NEWSWIRE) -- The "Pipeline Equipment Market By Application, By End Use: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
The global pipeline equipment market was valued at $12.5 billion in 2021 and is projected to reach $18.7 billion by 2031, registering a CAGR of 4.2% from 2022 to 2031.
Key Market Players
- Destec Engineering Limited
- Siderforgerossi Group SpA
- LTS Energy
- Arnco
- Avesta Steels & Alloys
- RBV Energy
- Fittinox S.R.L.
- Arabian Oilfield Supplies & Services
- Aqueterra Group Ltd
- Weir Oil & Gas
- AFG Holdings, Inc.
Pipeline equipment means all pipe, fittings, pumps, telephone and telegraph lines, and all other material and equipment used or intended to be used as part of or incident to the construction, maintenance, and operation of a pipeline for the transportation of oil, gas, water, or other liquid or gaseous substance. The various types of piping equipment include gaskets, valves, flanges, actuators, pipes, and fittings.
The abundance of natural gas reserves and its lower cost when compared to other fossil fuel types are expected to increase the demand for natural gas from a variety of end-use industries, including the power generation sector. Therefore, it is anticipated that during this period, the market for gas pipelines will expand.
Russia and Pakistan will build a new gas pipeline as part of a $2 billion agreement. India and Russia also signed a $40-billion agreement regarding natural gas exports to India. Such significant projects are expected to propel the pipeline sector.
Offshore oil and gas fields have been created because of the depletion of onshore resources and the rise in demand for fossil fuels for transportation, power generation, and the manufacture of various chemicals. The global offshore rig count is the result of growing government and private sector investment leading to the exploration of offshore oil and gas fields. The demand for sophisticated drilling and transportation equipment for oil and natural gas to onshore for other facilities has increased because of the rise in rig count. The market for pipeline equipment is expanding primarily due to the advantages mentioned above.
Fuel and other product transportation via pipeline is more effective and less dangerous than conventional transportation; however, pipeline construction is very expensive, necessitating the use of pipeline equipment of the highest caliber. In addition, compared to the rate of returns, the lifespan of the pipeline systems is very short. As a result, most manufacturers of pipeline equipment are investing in research to create effective machinery that can be used in pipeline equipment. During the projected period, the factor is anticipated to restrain market growth for pipeline equipment.
The expansion of oil and gas resources both onshore and offshore, as well as the rise in demand for high-end pipeline equipment products in the new areas of unconventional resources, will create favorable business development opportunities. Investors are being encouraged to invest in the exploration of unconventional fuel resources by the shale gas revolution in the U.S.
To meet future energy demands, both the government and private organizations have expressed a strong interest in finding new oil well reserves. During the forecast period, there will be a rise in policies aimed at reducing reliance on hydrocarbon imports by locating conventional and unconventional reserves within national borders, which will present several opportunities for the pipeline equipment market.
Market Dynamics
Drivers
- Abundant natural gas resources and presence of large-scale projects
- The growing global offshore rig count and exploration for resources
Restraints
- Presence of intrusion and leakage detection during the transportation of materials through the pipeline
Opportunities
- Extensive expansion of oil and gas resources
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the pipeline equipment market analysis from 2021 to 2031 to identify the prevailing pipeline equipment market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the pipeline equipment market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global pipeline equipment market trends, key players, market segments, application areas, and market growth Strategies.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 193 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value (USD) in 2021 | $12.5 billion |
| Forecasted Market Value (USD) by 2031 | $18.7 billion |
| Compound Annual Growth Rate | 4.1% |
| Regions Covered | Global |
Key Market Segments
By Application
- Liquid Pipeline
- Gas Pipeline
By End Use
- Water and Wastewater
- Energy
- Oil and Gas
- Chemical
For more information about this report visit https://www.researchandmarkets.com/r/kqt6yk
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