Oil and Gas Pipeline Market Size Overview:
Oil and Gas Pipeline Market Size is projected to register a CAGR of 5.40% during the forecast period (2022 - 2030).
The Oil and Gas Pipeline Market Size is rising profusely. This growth attributes to the rapidly growing oil and gas industry witnessing an automation revolution. Besides, increasing investments and integration of advanced technologies in OG offshore and onshore drilling activities substantiate the market size.
Additionally, rising environmental concerns, efforts to improve pipelines energy infrastructure safety, and significant investments in pipeline businesses are key growth drivers for the market. Most oil and gas companies are advancing plans to develop hydrogen pipelines for OG, wind, which act as key tailwinds for the growth of the market.
Furthermore, stringent government regulations for improved pipeline assessment and focus on remote management, process optimization, and automation of OG pipelines foster market growth. Oilfield companies invest considerably in technology upgrades act as significant tailwinds for the market growth.
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Report Attribute/Metric | Details |
CAGR | ~5.40% CAGR (2022-2030) |
Base Year | 2021 |
Forecast Period | 2022 to 2030 |
Historical Data | 2019 2020 |
Forecast Units | Value (USD Million) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | type, application, sector |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Global OG Pipeline Market - Segmentation
The OG pipeline market forecast is segmented into types, applications, sectors, and regions. The type segment is sub-segmented into crude oil and natural gas. The application segment is sub-segmented into offshore and onshore. Of these, the offshore segment accounts for the largest share, witnessing developments in offshore oilfields. The sector segment is sub-segmented into upstream, midstream, and downstream. The region segment is sub-segmented into Americas, Europe, Asia Pacific, and the rest-of-the-world.
Global Oil and Gas Pipeline Market Size - Regional Analysis
North America leads the global Oil and Gas Pipeline Market Size. The region accounts for the largest producers and consumers of oil gas, hosting the increasing numbers of OG pipelines than other regions. Besides, the largest market share attributes to high usages of natural gas and increased investments.
The rise in renewable energy installations reported by International Renewable Energy Agency (IRENA) contributes to the regional market growth. Moreover, increased government regulations for pipeline assessment and increased focus on remote management of OG pipelines for process optimization and automation drive the regional market growth.
The Oil and Gas Pipeline Market Size in Europe stands second globally. Market growth is fostered by the strong presence of notable players integrating robotics in OnG oilfields. Moreover, increasing drilling activities increase the uptake of pipelines in the oilfields. Additionally, the increasing demand for fossil fuels in the region substantiates market growth.
The Asia Pacific Oil and Gas Pipeline Market Size is growing rapidly. Factors such as the burgeoning OG sector and RD increasing investments due to rapid economic growth substantiate the market growth in the region. Rapidly developing APAC countries, such as India and China, account for sizable shares in the regional market heading with the improving drilling technologies and robotics in oilfields.
Global Oil and Gas Pipeline Market Size - Competitive Analysis
Highly competitive, the OG pipeline market appears fragmented, with several well-established players forming a competitive landscape. Mergers acquisitions, expansion, collaboration, and product/ technology launch are key strategic initiatives of these players to gain a larger competitive advantage. They also focus on product development and geographical expansion.
Industry/ Innovation/ Related News
May 17, 2021 ----- The Oman government announced plans to extend its gas pipeline network to Iran and Yemen. Oman would like to revive plans to import Iranian gas via pipeline and consider extending its pipeline network to Yemen. There are many opportunities to make good use of that project from Oman's point of view.
Major Players:
Players leading the global Oil and Gas Pipeline Market Size include China National Petroleum Corporation, Gazprom, Chevron Corporation, Tenaris S.A., ConocoPhillips, TMK, National Oilwell Varco, General Electric, Maharashtra Seamless Ltd, Saipem S.p.A, TechnipFMC, Subsea 7 S.A, EVRAZ North America, Chelpipe, Welspun Corp Ltd., Europipe, Royal Dutch Shell p.l.c., and Eni S.p.A.
