PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1475827
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1475827
Global Pipeline Transportation Market is valued at approximately USD 20.62 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 5.4% over the forecast period 2023-2030. Pipeline transportation is a method of conveying goods, typically liquids or gases, through a network of pipes from one location to another. This mode of transportation is commonly used for transporting petroleum, natural gas, water, and various chemicals over long distances efficiently and safely. Pipelines are laid underground, underwater, or on the surface, depending on the terrain and the substance being transported. They offer several advantages, including reduced transportation costs, minimal environmental impact compared to other modes like trucking or shipping, and continuous flow, which ensures a steady supply of the transported goods. The Pipeline Transportation market is expanding because of factors such as increasing demand for energy resources, growing demand for water transportation, and increasing oil & gas pipeline projects.
The rising global demand for energy, including oil, natural gas, and petroleum products, is a significant driver for the expansion of pipeline transportation. Pipelines offer a cost-effective and efficient means of transporting large volumes of energy resources over long distances. The International Energy Agency reports that global oil consumption surged from 91 million barrels per day in 2020 to 99.4 million barrels per day in 2022, and it's projected to further increase to 104.1 million barrels per day by 2026. Moreover, as per the findings of the Global Energy Monitor, as of December 2023, there is currently a surge in global gas transmission pipeline construction, with approximately 69,700 kilometers (km) of pipelines underway. This marks an 18% increase compared to the previous year, with investments totaling around US$193.9 billion. In addition, advancements in pipeline technology rapid industrialization, and urbanization are creating new opportunities for market growth. However, high initial investment and the presence of alternative modes of transportation stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Pipeline Transportation Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 due to the well-established pipeline infrastructure in the region, coupled with increasing power demands and a heightened need for natural gas, pipelines are extensively utilized throughout the United States and Canada. Asia Pacific is expected to grow at the fastest rate during the forecast period, China and India stand as the dominant forces shaping the Asia-Pacific pipeline transportation market, driven by their sizable populations and the escalating demand for oil and gas resources in industries and transportation. In China, extensive pipeline initiatives to bolster the country gas supply, sourced diversely from imported LNG, Central Asian imports, Russian imports, domestic fossil fuel sources, and coal seam projects.
The objective of the study is to define the market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters to detailed information about the crucial aspects such as driving factors & challenges that will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with a detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of tables and figures and dummy in nature, final lists may vary in the final deliverable