Aug 13, 2019 (AB Digital via COMTEX) -- The global oil & gas pipeline market is expected to grow at 5.40% CAGR during the forecast period. Report include insightful analysis done by Oil and Gas Industry expert which comprises valuable historical and forecast information on Oil & Gas Pipeline Market Size, Trends, Share, Growth, Region with global forecast to 2024.
Oil & Gas Pipeline Market Key Companies Analyzed In Report - Maharashtra Seamless Ltd, Gazprom, China National Petroleum Corporation, Welspun Corp Ltd., Chelpipe, Tenaris S.A., TMK, EVRAZ North America, Europipe, Eni S.p.A, Chevron Corporation, ConocoPhillips, Saipem S.p.A, Subsea 7 S.A, TechnipFMC, and National Oilwell Varco, General Electric, Royal Dutch Shell PLC
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Oil & Gas Pipelines are a transportation system that are used for transporting natural gas or crude oil from the production wells to the area of use. The global oil & gas pipeline market is expected to grow at a decent rate due to several identified factors. This includes an increasing demand of natural gas and crude oil across various developing nations. Furthermore, the increasing technological advancements in the oil & gas industry has brought about major changes to the oil & gas industry. This has prompted the operators to adopt and integrate some of the latest technologies like IoT to ensure efficiency in their transportation process.
The stringent regulatory laws introduced by governments and the increasing use of gas pipelines in residential as well as commercial applications are some of the major factors driving the global oil & gas pipeline market. North America is one of the largest regions with the maximum number of Oil & Gas Pipelines. For instance, the US has the largest pipeline network of 1,984,321 km pipelines for natural gas transport and 240,711 km for transporting petroleum products, followed by Canada with 100,000 km Oil & Gas Pipelines.
The global Oil & Gas Pipeline market was analyzed by Market Research Future (MRFR) and it was projected that a decent CAGR of 5.40% will be attained by the market over the forecast period of 2018 to 2024. The valuation of the Oil & Gas Pipeline market was further stated to surpass its previous valuation by the end of the forecast period.
The global Oil & Gas Pipeline market has been segmented in terms of type, sector, and application.
By type, the market breaks down into crude and natural oil pipelines. Within the crude oil pipelines, there are primarily the involvement of three different types of petroleum pipelines. These are refined products pipeline systems, gathering systems, and crude oil pipeline systems. The gathering pipeline system is typically used for gathering the crude oil from the production wells and is then subsequently transported to a refinery. Once refined, the same is transported with the help of a refined products pipeline system to distribution or storage stations.
On the other hand, natural gas pipelines are used for the purpose of transporting gas from the stationary facilities and delivering the same across various locations like export facilities and homes. The process includes transmission systems, gathering systems, and distribution systems. Much similar to crude oil gathering, natural gas gathering system accumulates the raw material from the production wells and following which, it is transported with the help of the massive transmission pipelines from facilities to refiners and ports.
By use, the market segments into distribution pipelines, gathering pipelines, flowlines, transmission pipelines, and feeder pipelines.
By sector, the market includes midstream, upstream, and downstream. The midstream segment is anticipated to command the global Oil & Gas Pipeline market during the forecast period. This is due to the extensive use of pipelines for transporting raw materials. Furthermore, midstream operations often possess elements of midstream and upstream segments. This is especially true for transport and storage purposes, which also increases the overall share of the global Oil & Gas Pipeline market.
By application, the market divides into offshore and onshore applications.
The global Oil & Gas Pipeline market is geographically distributed across the following key regions: Asia Pacific, North America, Europe, and the Rest of the World (RoW).
The North America region spearheaded the global oil & gas pipeline market back in 2017 and is expected to continue doing the same over the forecast period. The inception of the shale gas revolution has majorly changed the North American natural gas market over the years. This has boosted the regional market to enjoy a majority of the total share percentage.
July 2019, The Torrent Group announced its plans of investing Rs. 3,000 crores in order to lay a gas pipeline network in UP, India. The network will be established for commercial, industrial, and domestic consumers.
Major Table of Content:
1 Executive Summary
2 Market Introduction
2.1 Market Definition
2.2 Scope Of The Study
2.3 Market Structure
3 Research Methodology
3.1 Primary Research
3.2 Secondary Research
3.3 Market Size Estimation
3.4 Forecast Model
3.5 List Of Assumptions
3.6 Limitations Of The Study
4 Market Insights
5 Market Dynamics
5.2 Market Drivers
5.3 Market Restraints
5.4 Market Opportunities
5.5 Porter’s Five Forces Analysis
5.5.1 Threat Of New Entrants
5.5.2 Bargaining Power Of Buyers
5.5.3 Bargaining Power Of Suppliers
5.5.4 Threat Of Substitutes