New York US, Aug. 30, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Report by MRFR/Market Research Future (MRFR), “Pipeline Transportation Market Research Report Information by Service, Type, Region, Solution, and Application - Forecast Till 2032”, the Pipeline Transportation market is forecast to cultivate considerably over the valuation period from 2022 to 2032 at a considerable CAGR of nearly 5.70%. The study documents even offer projections related to the global market's expanding revenue records, which will likely reach a market of USD 31.6 Billion by the end of 2032. As per the reports, the market was valued at nearly USD 19.2 Billion in 2022.
Pipeline Transportation Market Overview:
The global Pipeline Transportation Market has advanced extremely in recent years. The primary feature causing a surge in market performance is the rapidly expanding oil & gas trade across nations.
Competitive Analysis
The list of the top leaders across the global Market for Pipeline Transportation includes players such as:
- ABB (Switzerland)
- Emerson Electric Co. (U.S.)
- Siemens (Germany)
- ESRI (India)
- Trimble Navigation Limited (U.S.)
- FMC Technologies (U.S.)
- IDS GmbH (Germany)
- Rockwell Automation, Inc. (U.S.)
- Baker Hughes (U.S.)
- Schneider Electric (France)
- Halliburton (U.S.)
- John Wood Group PLC (U.K.)
- National Oilwell Varco (U.S.)
- Among others.
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Pipeline Transportation Market USP Covered
Market Drivers
The global Pipeline Transportation industry has advanced extremely in recent years. The primary feature causing a surge in market performance is the rapidly expanding oil & gas trade across nations. Furthermore, the factors such as increased use of cutting-edge technology, rising energy demand, and increased infrastructure development are also projected to enhance the performance of the global market over the coming years.
Market Restraints
On the other hand, several parameters may have an adverse impact on the development of the global market for Pipeline Transportation. One of the primary constraints restricting the advancement of the market's performance of the global market is the high prices associated with raw materials.
Report Scope:
| Report Metrics | Details |
| Market Size 2032 | 2032: USD 31.6 Billion |
| CAGR during 2023-2032 | 5.70% CAGR |
| Base Year | 2022 |
| Forecast | 2023-2032 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Solution, Service, Application and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Key Market Opportunities | Rising global need for energy, Growing Technology for discovery and production of new oil and gas reserves |
| Key Market Dynamics | Rapidly expanding oil & gas trade across nations |
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Pipeline Transportation Market COVID-19 Impact
The global health crisis of COVID-19 has affected more than 200 countries worldwide. The pandemic severely impacted the majority of the industry sectors as it led to several governments imposing partial or complete lockdowns across most parts of the world. The shortage of labor, disruption in the supply chain network, shortage of raw materials, and fluctuation in the prices of transport choices have caused a major revenue loss in the global market for Pipeline Transportation. However, the rapid expansion in the population and fast vaccination rates around the globe is anticipated to positively affect the development of the global market for Pipeline Transportation over the coming years.
Pipeline Transportation Market Segment Analysis
Among all the types, the transmission pipeline category ensured the top position across the global market for pipeline transportation in 2022, with a maximum share of around 35%. Transmission pipelines transport water, coal, gas, oil, and other fuels across extraordinarily long distances.
Among all the solutions, the network communication solutions ensured the top position across the global market for pipeline transportation in 2022, mainly due to the rapid virtualization of the pipeline transportation system and the integration of detection & management equipment with communication equipment.
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Among all the services, the maintenance & support services ensured the top position across the global market for pipeline transportation in 2022, given mainly to the rise in oil spills from subsea pipeline transportation along with the leakage of dangerous chemicals during the past several years.
Among all the applications, oil & gas ensured the top position across the global market for pipeline transportation in 2022, given mainly to a wide range of end-use applications for oil and gas in the paints, automotive, and chemicals industries.
Pipeline Transportation Market Regional Analysis
The research documents by MRFR indicate that the North American Region secured a leading position across the global Pipeline Transportation industry in 2022 with the largest contribution of nearly 45.80%. The region is known for vital expansion contributors such as Mexico, the U.S., and Canada. The main aspect backing the expansion of the regional Pipeline Transportation market is the superb pipeline infrastructure development in the area.
The European Region projects to ensure the second spot across the global Pipeline Transportation industry over the coming years. The region is known for the presence of vital expansion contributors such as France, Germany, and the U.K. The region's main parameter supporting regional market expansion is the European nation's rising investments in pipeline infrastructure. The president of Russia, Vladimir Putin, stated in January 2020 that new oil and gas projects north of the Arctic Circle would get incentives totaling USD300 billion.
The Asia-pacific Region is anticipated to secure the maximum growth across the global Pipeline Transportation industry over the coming years. The regional market will display the maximum expansion rate over the assessment era. The region is known for the presence of vital expansion contributors such as India, China, and Indonesia.
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The main parameter supporting regional market expansion is the rising need for energy across the region, causing the demand for oil and gas transportation pipes. China has the biggest market across the region due to its high industrialization level. PipeChina disclosed in April 2021 that a considerable gas pipeline in North China for USD 1.3 billion would be built.
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