The global Pipeline Network market size is expected to reach close to USD 27.82 billion by 2029 with an annualized growth rate of 5.4% through the projected period.
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"The Global Pipeline Network Market 2019-2029 (USD Billion)")
Pipeline network refers to the collection of essentials like pumps, valves, pipes, tanks, heaters, compressors, and others linked to each other in a particular way. These networks can be mass carriers of water natural gas, petroleum, crude oil, and other products. Such pipeline networks go underground, overground, and underwater and are always exposed to various natural disasters or uncertain accidents. Hence, they need constant observation and maintenance as any leakage or fault can result in human as well as financial loss.
The global pipeline network market size is estimated to reach over USD 16 billion by 2028. Market growth can be attributed to the increasing adoption of analytics and big data. Also, the increasing demand from developing regions for oil and gas is also boosting the global Pipeline Network Market growth.
However, the slow technological adoption and political imbalance in several countries are likely to slow down market growth. Furthermore, growing technological advancements and their adoption among global oil and gas industries are expected to be opportunistic for the market in the forthcoming years. Also, growing regulations and security standards for the pipeline network are also anticipated to provide market growth opportunities in forthcoming years.
Pipeline Network Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2029 |
| Study Period | 2018-2029 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2029 | USD 27.82 billion |
| Growth Rate | CAGR of 5.4% during 2019-2029 |
| Segment Covered | by Type, by Application, by Sector, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Tenaris Inc, TMK Group, Nippon Steel Corporation, ChelPipe Group, Gazprom, Chevron Corporation, ConocoPhilips, National Oilwell Varco, Maharashtra Seamless Ltd, Subsea 7 S.A., TechnipFMC, Welspun Corp Ltd., Royal Dutch Shell P.L.C. |
Key Segment Of The Pipeline Network Market
by Type, (USD Billion)
• Crude oil Pipeline,
• Natural Gas Pipeline
by Application, (USD Billion)
• Onshore
• Offshore
by Sector, (USD Billion)
• Upstream,
• Midstream
• Downstream
Regional Overview, (USD Billion)
North America
• US
• Canada
Europe
• Germany
• France
• UK
• Rest of Europe
Asia Pacific
• China
• India
• Japan
• Rest of Asia Pacific
South America
• Mexico
• Brazil
• Rest of South America
Middle East and South Africa
Frequently Asked Questions (FAQ) :
Asia Pacific dominated the market for pipeline network market and accounted for the largest revenue share.
The pipeline network market is growing at a CAGR of 5.4% over the forecast period.
The major contenders in the global market are Tenaris Inc, TMK Group, Nippon Steel Corporation, ChelPipe Group, Gazprom, Chevron Corporation, ConocoPhilips, National Oilwell Varco, Maharashtra Seamless Ltd, Subsea 7 S.A., TechnipFMC, Welspun Corp Ltd., Royal Dutch Shell P.L.C.
Pipeline network solutions have an extensive range of applications across various industries such as biofuel, natural gas, water and wastewater, and oil. Over the past few years, the number of natural disasters has increased that is resulting in increased concerns among these industries. For instance, in the year 2019 over 614 pipeline incidents were reported in the U.S. alone that caused approximately $259 Billion loss, 10 deaths, and around 35 injuries. However, with the advancements in technology these industries are investing in solutions that can help in avoiding such incidents in advance and notifying about the status of pipelines, therefore, driving the demand for pipeline network solutions. Besides, adopting pipeline network solutions can result in increase productivity, efficient monitoring of networks, reduce unnecessary expenditures, and eliminates human errors. Therefore such factors combined driving the market for pipeline networks.
Component Segment
Based on the component segment, the market is divided into solutions and services. The services segment is also sub-segmented into maintenance & support and consulting. In the year 2019, the solutions segment seized the major market revenue and it is likely to embrace the major market share over the forecast years. On the contrary, the services segment gathered the highest CAGR during the forecast period. The need for timely support and maintenance, and providing sufficient training to employees is boosting the demand for this segment.
Pipeline Type Segment
On the basis of the pipeline type, the market is segmented into liquid pipeline and gas pipeline. The gas pipeline segment dominated the pipeline network Market in 2019 and it is projected to do so throughout the forecast period. The market control of this segment is principally attributed to the growing utilization of natural gas worldwide. On the contrary, the water pipeline segment is also anticipated to hold a significant market share throughout the forecast period.
Application Segment
In terms of application, the market is segmented into pipeline optimization and pipeline monitoring. The pipeline monitoring segment held the major market share in 2019 and it is anticipated to do so throughout the forecast period. The increasing number of natural disasters and strict government laws and regulations for pipeline infrastructure safety is driving the market demand for pipeline monitoring solutions. However, the pipeline optimization segment is anticipated to account for the maximum CAGR throughout the forecast years.
The North American region dominated the overall market in 2019 and it is projected to keep its position during the forecast years 2018-2028. The dominance of this region is mainly attributed to the growing number of pipelines in Canada and the U.S. Also, the presence of the majority of market vendors is also the key factor boosting the market growth in this region. However, the Asia-Pacific region is projected to contribute to major CAGR over the forecast years.
_1.png "North America Pipeline Network Market 2018-2028 (USD Billion)")
The major players of the global pipeline network market are ABB, Cisco Systems, Emerson, General Electric, Hitachi, Huawei, Honeywell, Siemens, Schneider Electric, and Wipro. Moreover, the other potential players in the Pipeline Network Market are Rockwell Automation, Sensornet, OptaSense, PSI Software, and ORBCOMM. The renowned industry players are coming up with novel pipeline network solutions. For instance, In May 2019, Venture Global LNG and Honeywell partnered to assist Venture Global LNG in building low-cost supply LNG (Liquefied Natural Gas) facility by using high-performance equipment.