Global Oil & Gas Pipeline Market Size to Reach USD 53.54 Billion by 2030, Registering a CAGR of 6.50%, with North America Leading the Market Due to Established Extensive Pipeline Network, Projects Kings Research
DUBAI, UAE, Jan. 24, 2024 /PRNewswire/ -- As per the latest report published by Kings Research, the Global Oil & Gas Pipeline Market was recorded at USD 23.67 billion in 2022 and is estimated to grow to USD 53.54 billion by 2030, exhibiting a 6.50% CAGR over the forecast period of 2023-2030. The market has experienced substantial expansion in response to the rising energy demand and exploration of untapped oil and gas reserves. This has made the development of efficient transportation infrastructure imperative. Consequently, nations globally have made significant investments in pipeline initiatives with the aim of establishing a dependable and economically viable method for transporting these valuable resources.
An oil and gas pipeline is a system of linked pipes that moves gas and oil from production sites to storage facilities, refineries, and finally, end users. These pipelines are essential to the global energy industry as they make it possible to move these priceless commodities over long distances in an effective and reliable manner. Usually constructed of steel, oil and gas pipelines can travel thousands of kilometers over deserts, mountains, and oceans. The pumps and valves in these pipelines control the flow and pressure of the gas and oil, guaranteeing a consistent supply to fulfill global energy needs. The delivery of goods that run our everyday lives would be extremely difficult for the global oil and gas business without these pipelines.
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Trending Now: Development of Autonomous Robot for Subsea Inspection of Oil and Gas Pipelines at the University of Houston (UH)
August 2023: In response to the growing number of severe accidents in the global oil and gas industry resulting from damaged pipelines, researchers at the University of Houston began developing an autonomous robot. This robot was being built to identify potential structural failures and pipeline leaks during subsea inspections, introducing a transformative technology that enhances the safety and cost-effectiveness of the inspection process. Simultaneously, it contributes to the protection of subsea environments, mitigating the risk of disasters.
The United States witnesses thousands of oil spills in its waters annually due to various causes. While many of these spills are small, spilled crude oil can still inflict harm on delicate areas like beaches, mangroves, and wetlands. Larger spills often involve pipelines as the main source. As per the BOEM (Bureau of Ocean Energy Management), 514 offshore pipeline-related oil spills were documented between 1964 and 2015, with 20 of them involving spill volumes exceeding 1,000 barrels.
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Competitive Landscape
Leading companies in the global oil & gas pipeline market are focusing on strategic alliances to fortify their industry standing. For instance, in August 2022, Maharashtra Seamless received an order from the Oil and Natural Gas Corporation (ONGC) for casing pipes. ONGC, a government-backed company, intended to utilize these pipelines for its oil and gas exploration ventures in various states, including Rajasthan, Gujarat, Andhra Pradesh, Assam, and Tripura.
Key participants in the global oil & gas pipeline market include:
- Tenaris
- TMK Group
- Mott MacDonald
- ConocoPhillips Company.
- Chevron Corporation
- TechnipFMC plc
- Evraz
- Welspun
- Shell Pipeline Company LP
- NIPPON STEEL ENGINEERING CO., LTD.
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The global Oil & Gas Pipeline Market is segmented as:
By Type
- Crude Oil Pipeline
- Natural Oil Pipeline
Use of Crude Oil Pipelines for Smooth Operations of Oil Refining and Distribution to Boost Product Demand
On the basis of type, the crude oil pipeline segment dominated the global oil & gas pipeline market in 2022. This dominance is attributed to the utilization of these pipelines for transporting unrefined oil from extraction sites to refineries or storage facilities. The crude oil pipelines play a vital role in ensuring the smooth operation of the oil sector as it guarantees a consistent flow of raw oil for refining and distribution. Furthermore, the expansion of the segment is propelled by the rising worldwide requirement for oil-based products. As emerging economies witness rapid industrialization and urbanization, their energy demands are growing simultaneously, resulting in a greater need for crude oil.
By Stream
- Upstream
- Midstream
- Downstream
Growing Importance of Midstream in Maintaining Consistent Flow of Energy Resources to Aid Market Development
In terms of stream, the midstream segment is anticipated to account for the largest share of the global oil & gas pipeline market by the end of the review timeline. The midstream plays a vital role in maintaining a consistent flow of energy resources by facilitating the transportation of oil and gas from production areas to downstream markets. Its significance lies in the extensive infrastructure necessary for storage and transit, such as long-distance pipelines and storage facilities. These factors are contributing to segment expansion, ensuring a reliable supply of energy resources.
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Increasing Need for Natural Gas to Propel Oil & Gas Pipeline Market Growth
The expansion of the oil & gas pipeline market is propelled by the growing need for natural gas and increased exploration and production activities. Moreover, the market is benefiting from advancements in pipeline technology, including the utilization of corrosion-resistant materials and enhanced inspection techniques. Additionally, government initiatives aimed at improving energy security and reducing reliance on foreign oil are also playing a positive role in the growth of the oil & gas pipeline industry.
In addition, the rising emphasis on the advancement of renewable energy sources and the shift toward cleaner fuels has resulted in the incorporation of natural gas pipelines into renewable energy initiatives. This integration not only guarantees a more environmentally friendly energy combination but also enhances the requirement for oil and gas pipelines. Moreover, the increasing necessity for effective and economical transportation of oil and gas across various regions and nations is set to drive market expansion through the assessment period.
North America to Lead Oil & Gas Pipeline Market Due to Extensive Pipeline Network
North America is estimated to lead the global market in the near future as this region has established an extensive pipeline network that enables the transportation of oil and gas resources across the continent. North America is home to major oil and gas producers, and the region's pipelines are crucial for supplying energy to domestic markets, encouraging exports, and facilitating cross-border trade. Pipeline construction in the region has seen significant investments, including the extension of pipes for shale gas and oil extraction, which is foreseen to foster the domestic market outlook in the coming years.
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Key Points from TOC:
Chapter 1 Introduction of The Global Oil & Gas Pipeline Market
1.1 Market Definition
1.2 Market Segmentation
1.3 Research Timelines
1.4 Limitations
1.5 Assumptions
Chapter 2 Executive Summary
Chapter 3 Research Methodology
3.1 Data Collection
3.2 Subject Matter Expert Advice
3.3 Quality Check
3.4 Final Review
3.5 Bottom-Up Approach
3.6 Top-down Approach
Chapter 4 Global Oil & Gas Pipeline Market Outlook
4.1 Market Evolution
4.2 Overview
4.3 Market Dynamics
4.4 Pricing Analysis
4.5 Porter's Five Forces Analysis
4.6 Value Chain Analysis
4.7 Macroeconomic Analysis
Chapter 5 Impact of Russia-Ukraine War
Chapter 6 Global Oil & Gas Pipeline Market, By Type
Chapter 7 Global Oil & Gas Pipeline Market, By Stream
Chapter 8 Global Oil & Gas Pipeline Market, By Application
Chapter 9 Global Oil & Gas Pipeline Market, By Geography
Chapter 10 North America
Chapter 11 Europe
Chapter 12 Asia Pacific
Chapter 13 Middle East & Africa
Chapter 14 Latin America
Chapter 15 Global Oil & Gas Pipeline Market Competitive Landscape
15.1 Overview
15.2 Key Developments
15.3 Key Strategic Developments
15.4 Company Market Ranking
15.5 Regional Footprint
15.6 Industry Footprint
Chapter 16 Company Profiles
16.1 Tenaris
16.1.1 Key Facts
16.1.2 Financial Overview
16.1.3 Product Benchmarking
16.1.4 Recent Developments
16.1.5 Winning Imperatives
16.1.6 Current Focus & Strategies
16.1.7 Threat from competition
16.1.8 SWOT Analysis
16.2 TMK Group
16.2.1 Key Facts
16.2.2 Financial Overview
16.2.3 Product Benchmarking
16.2.4 Recent Developments
16.2.5 Winning Imperatives
16.2.6 Current Focus & Strategies
16.2.7 Threat from competition
16.2.8 SWOT Analysis
16.3 Mott MacDonald
16.3.1 Key Facts
16.3.2 Financial Overview
16.3.3 Product Benchmarking
16.3.4 Recent Developments
16.3.5 Winning Imperatives
16.3.6 Current Focus & Strategies
16.3.7 Threat from competition
16.3.8 SWOT Analysis
16.4 ConocoPhillips Company
16.4.1 Key Facts
16.4.2 Financial Overview
16.4.3 Product Benchmarking
16.4.4 Recent Developments
16.4.5 Winning Imperatives
16.4.6 Current Focus & Strategies
16.4.7 Threat from competition
16.4.8 SWOT Analysis
16.5 Chevron Corporation
16.5.1 Key Facts
16.5.2 Financial Overview
16.5.3 Product Benchmarking
16.5.4 Recent Developments
16.5.5 Winning Imperatives
16.5.6 Current Focus & Strategies
16.5.7 Threat from competition
16.5.8 SWOT Analysis
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