Stratview Research has published a new report titled “Pipeline & Process Services Market” which is segmented By Asset Type (Pipeline, Process), By Operation Type (Pre-Commissioning & Commissioning, Maintenance, and Decommissioning), and By Region (North America, Europe, Asia-Pacific, and the Rest of the World).
As per the study, the market is expected to grow from USD 3.58 billion in 2022 to USD 4.93 billion by 2028 at a healthy CAGR of 5.5% during the forecast period of 2023-2028.
Pipeline & process services provide a wide range of pre-commissioning & commissioning, maintenance, and decommissioning services to the pipeline and process plant construction, commissioning, and maintenance industries, both offshore and onshore.
Pipeline & process services provide operators the capability to initiate, sustain and increase production by increasing the production and transportation capacity of infield hydrocarbon flowlines, process plants, and export pipelines.
Report Highlights
This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the industry’s market dynamics. It thoroughly analyzes the market segments, including products, applications, and competitor analysis.
The market is bifurcated into various segments. Below given is the segment-wise analysis -
By Asset Type
The market is segmented into pipeline and process.
The pipeline segment is projected to account for the larger market share during the forecast period. Owing to the oil price decline, there were many pipeline projects which were delayed in the recent past. However, on account of the price rise since early 2018, the delayed projects are now getting commissioned in the coming years.
Around 250,000 km of pipelines are estimated to be added globally during the forecast period and the Asia-Pacific region is likely to depict the highest pipeline km additions in the coming five years.
By Operation Type
The market is segmented into pre-commissioning & commissioning, maintenance, and decommissioning.
The pre-commissioning & commissioning segment held the largest share of the market in 2022. Increasing volume of gas processing & gas storage pre-commissioning activities in the Middle East & North Africa and refinery capacity pre-commissioning in the Asia Pacific regions are expected to boost the global pre-commissioning & commissioning segment during the forecast period.
Pipeline pre-commissioning & commissioning is estimated to be around 65-70% of the overall pre-commissioning & commissioning pipeline and process service market, owing to the high volume of pipeline pre-commissioning in the North American region.
Which Region is expected to remain the largest market?
North America is estimated to lead the market during the forecast period. In the regions like the USA, 70% of the crude oils are shipped through pipelines. The growing demand for energy in North America shows the oil exploration activities, which are strengthening the market.
In the current study, extraction techniques have opened ample oil & gas shale regions in extremely remote areas. The transportation of manufactured crude & natural gas from these remote locations is expected to drive the overall pipeline market in the region.
Who are the Key Players in the Market?
This report provides market intelligence most comprehensively. It also provides critical insights into the key players active in the market, which will enable strategic decision-making for the existing market players as well as those willing to enter the market.
The following are the key players active in the Pipeline & Process Services Market:
- Altus Intervention
- BHGE
- Bluefin Group
- Chenergy Services
- Enermech
- Halliburton
- Hydratight
- IKM
- IPEC
- Techfem Spa
- Trans Asia Pipelines
- Tucker Energy Services.
Key questions answered by the report.
- What is the projected CAGR for revenue from the Pipeline & Process Services Market during the forecast period?
- What would the market be valued at by 2028?
- What is a major driving factor for the growth of the market?
- Which region accounted for the largest revenue share in the Pipeline & Process Services Market?
- Which are the major market players?
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Stratview Research is a global market research firm, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients insightful market data to aid strategic decision-making. These exclusive reports are the result of exclusive research methodology and are available for key industries such as chemicals, composites, advanced materials, technology, renewable energy, and more.
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