Market Scenario
Oil and Gas Pipeline Market growth is a transportation system, which is used to transport crude oil or natural gas from production wells to the site of use. There are type types of oil & gas pipelines- crude oil pipelines and natural gas pipelines. Within crude oil pipelines, mainly three types of petroleum pipelines are involved, which are gathering systems, refined products pipeline systems, and crude oil pipeline systems. The gathering pipeline system is used to gather the crude oil from the production wells and is transported to a refinery. Once the crude oil is refined, it is transported via a refined products pipeline system to storage or distribution stations.
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Meanwhile, natural gas pipelines are used to transport gas from stationary facilities and deliver it to various locations such as homes or export facilities. This process includes gathering systems, transmission systems, and distribution systems. Similar to the crude oil gathering systems, the natural gas gathering system gathers the raw material from production wells and then it is transported using huge transmission pipelines from facilities to ports and refiners.
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 and Gas Pipeline Market growth. 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 and Gas Pipeline Market growth.
The global oil & gas pipeline market is projected to grow at a significant growth rate during the forecast period due to the increasing demand for crude oil and natural gas in developing countries. Moreover, the growing technological advancements in the oil & gas industry has brought about revolutionary changes regarding the smooth and protective transportation of oil and gas. This has also led the oil and gas operators to adopt advanced technologies including the internet of things (IoT) in the transportation process.
The global oil & gas pipeline market is expected to grow at ~5.40% CAGR during the forecast period.
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Market Segmentation
The global oil & gas pipeline market has been segmented based on type, application, sector, and region. On the basis of application, the market has been divided into offshore and onshore. The offshore segment dominates the market owing to the rapid development of offshore oilfields.
Key Players
The key players of global oil & gas pipeline market are Gazprom, China National Petroleum Corporation, Chevron Corporation, ConocoPhillips, Tenaris S.A., TMK, National Oilwell Varco, Maharashtra Seamless Ltd, General Electric, Saipem S.p.A, Subsea 7 S.A, TechnipFMC, EVRAZ North America, Welspun Corp Ltd., Chelpipe, Europipe, Eni S.p.A, and Royal Dutch Shell p.l.c.
Global Oil & Gas Pipeline Market
Global oil & gas pipeline market is expected to witness a significant growth rate during the forecast period due to rising demand for efficient gas supply and increasing urbanization in developing countries. Moreover, governments around the world have developed attractive investment plans to increase its refinery capacity, which is expected to drive the global oil & gas pipeline market, further. For instance, in 2018, the Indian Oil Corporation announced its plans to invest around USD 24.83 billion to increase its refinery capacity, improve its petrochemical production, expand its gas business, and extend its pipeline network. All these factors are expected to drive the global oil & gas pipeline market.
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