According to the recent study the pipeline & process service market is projected to grow at a CAGR of 3%-5% from 2020 to 2025. Growth in this market is primarily driven by growing natural gas consumption and high investments lined up for pipeline business procedures.
Browse XX figures / charts and XX tables in this 150-page report to understand trends, opportunities and forecast in pipeline & process service market by asset type (pipeline [transmission, and distribution], process [FPS(forties pipeline system), refinery & petrochemical, and gas storage & processing]), operation (pre-commissioning & commissioning, maintenance, and decommissioning), end use (power generation, chemicals & refined products, water & waste water, oil & gas, and others), and region (North America, Europe, Asia Pacific, and Rest of the World).
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“Pipeline market is expected to remain the largest segment during the forecast period.”
Based on asset type, the pipeline & process service market is segmented into pipeline [transmission, and distribution], process [FPS (forties pipeline system), refinery & petrochemical, and gas storage & processing]. Lucintel forecasts that the pipeline market is expected to remain the largest segment during the forecast period as during the forecast period, a massive spread of around 250,000 km of pipeline are estimated to be added globally.
“Within the pipeline pigging market, the oil & gas segment is expected to remain the largest end use.”
Based on end use, the oil & gas segment is expected to witness the largest segment over the forecast period due to the requirement of transmission of crude oil and natural gas over long distances across states, countries, and continents.
“North America will dominate the pipeline & process service market in near future.”
North America is expected to be the largest region and it is also expected to witness the highest growth over the forecast period due to the growing demand for energy produced in North America, increasing exploration and production toward harsh environments, and growing recent discovery of certain new extraction techniques.
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Major players of pipeline & process service market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Halliburton, BHGE, EnerMech, IKM, Hydratight, Altus Intervention, Bluefin, Tucker Energy, IPEC, Trans Asia Pipelines, and Chenergy are among the major pipeline & process service providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/pipeline-aand-process-service-market.aspx or [email protected]
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