PUBLISHER: The Business Research Company | PRODUCT CODE: 1465859
PUBLISHER: The Business Research Company | PRODUCT CODE: 1465859
A pipeline network denotes a system of interconnected pipes established for the conveyance of fluids or gases, encompassing substances such as crude oil and refined petroleum products, from one location to another. The primary objective is to facilitate the efficient and secure transmission of fluids over long distances while minimizing loss or contamination.
The key offerings within a pipeline network include solutions, operation management and control, surveillance and security, communication systems, pipeline Geographic Information System (GIS) software, and services such as consulting, integration and deployment, training, and others. A solution refers to a combination of products and services tailored to address specific challenges or needs. These are applicable to various content, such as gas pipelines and liquid pipelines, serving diverse purposes such as pipeline monitoring and optimization of pipeline operations. These offerings find application across various end-user industries, including crude and refined petroleum, water and wastewater, among others.
The pipeline network market research report is one of a series of new reports from The Business Research Company that provides pipeline network market statistics, including pipeline network industry global market size, regional shares, competitors with a pipeline network market share, detailed pipeline network market segments, market trends and opportunities, and any further data you may need to thrive in the pipeline network industry. This pipeline network market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The pipeline network market size has grown strongly in recent years. It will grow from $9.40 billion in 2023 to $10.04 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth observed in the historical period can be attributed to factors such as infrastructure development, economic growth, technological advancements, regulatory changes, and increasing energy demand.
The pipeline network market size is expected to see strong growth in the next few years. It will grow to $12.50 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The anticipated growth in the forecast period can be linked to factors such as sustainability initiatives, geopolitical considerations, market liberalization, digitalization, and the integration of renewable energy. Key trends expected in the forecast period include a shift towards renewable energy sources, a heightened adoption of smart pipeline technologies, the expansion of natural gas infrastructure, the incorporation of artificial intelligence and machine learning, and an increased emphasis on pipeline safety and security.
The anticipated growth of the pipeline network market is driven by the increasing production of oil. Oil production typically involves the extraction or pumping of crude oil from underground reservoirs or oil wells. The rise in oil production is a response to the growing global energy demand and geopolitical considerations. The objective is to meet increasing fuel and petrochemical needs, supporting economic development and energy security. Pipeline networks play a crucial role in oil production by efficiently transporting crude oil from extraction sites to refineries and distribution centers, ensuring a cost-effective and reliable supply chain. For example, in May 2023, the Energy Information Administration reported a 5.6% growth in U.S. crude oil production in 2022, representing an increase of 0.6 million barrels per day compared to the previous year, reaching an average of 11.9 million barrels per day. New Mexico set a record for the state with a 0.3 million barrels per day increase to 1.6 million barrels per day in 2022. Thus, the growing oil production is a key driver for the growth of the pipeline network market.
Major companies in the pipeline network market are actively focusing on developing innovative products with advanced technologies, such as drone-based gas leak detection systems, to enhance their market profitability. Drone-based gas leak detection systems involve the use of unmanned aerial vehicles (UAVs or drones) equipped with specialized sensors and technologies to identify and locate gas leaks in various environments. For instance, in April 2021, Switzerland-based technology company ABB Ltd. introduced Hover Guard, a mobile gas leak detection system designed to identify odorless and invisible gas leaks within pipeline systems. Operating as an unmanned aerial vehicle, HoverGuard swiftly surveys natural gas distribution and transmission pipelines, gathering lines, storage facilities, and other potential leak sources. With its rapid detection, quantification, and mapping capabilities, HoverGuard automatically generates comprehensive digital reports, improving gas leak detection to reduce accidents and enhance worker and public safety.
In November 2023, ExxonMobil, a U.S.-based natural gas company, completed the acquisition of Denbury Inc. for $4.9 billion. This strategic move positions ExxonMobil as the largest owner and operator of CO2 (carbon dioxide) pipelines in the U.S., significantly enhancing its capacity to transport CO2 to various industrial facilities for carbon capture and storage applications. Denbury Inc., an independent oil and natural gas company based in the U.S., operates the world's largest CO2 pipeline network.
Major companies operating in the pipeline network market are Huawei Technologies Co. Ltd., Hitachi Ltd., Siemens AG, General Electric Company, Schneider Electric SE, Honeywell International Inc., ABB Ltd., Emerson Electric Co, Enbridge Inc., The Williams Companies Inc., Wipro, Rockwell Automation Inc., Xylem Inc., Targa Resources Corp., KROHNE Group, BRUGG Group AG, PSI Software, Microflex LLC, Moxa, ORBCOMM, Optasense, Pure Technologies, Sensornet
North America was the largest region in the pipeline network market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pipeline network market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the pipeline network market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The pipeline network market consists of revenues earned by entities by providing services such as inspection services, pipeline construction, installation, and pipeline integrity management. The market value includes the value of related goods sold by the service provider or included within the service offering. The pipeline network market also includes sales of pipelines, compressors, pump stations, and leak detection systems. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Pipeline Network Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on pipeline network market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for pipeline network ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The pipeline network market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.