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New York, July 09, 2021 (GLOBE NEWSWIRE) -- Pipeline Integrity Market Overview: According to a comprehensive research report by Market Research Future...
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New York, July 09, 2021 (GLOBE NEWSWIRE) -- Pipeline Integrity Market Overview: According to a comprehensive research report by Market Research Future...
The global Pipeline Integrity Market is expected to grow from an estimated USD 1.7 billion in 2019 to USD 2.1 billion by 2024, at a CAGR of
The global Pipeline Integrity Market is expected to grow from an estimated USD 1.7 billion in 2019 to USD 2.1 billion by 2024, at a CAGR of 4.33% during the forecast period. This growth can be attributed to ...
The Security Directive will require critical pipeline owners and operators to report confirmed and potential cybersecurity incidents.
The Security Directive will require critical pipeline owners and operators to report confirmed and potential cybersecurity incidents.
/PRNewswire/ -- According to the new market research report "Pipeline & Process Services Market by Asset Type (Pipeline...
According to the new market research report "Pipeline & Process Services Market by Asset Type (Pipeline: T&D; Process: FPS, Refinery & Petrochemical, Gas Storage & Processing), Operation (Pre-commissioning & Commissioning, Maintenance, Decommissioning), Region - Global Forecast to 2025", published by MarketsandMarkets™, the Pipeline & Process Services Market size will grow to USD 4.0 billion by 2025 (forecast year) from USD 3.1 billion in 2020 (estimated year), at a CAGR of 5.5% during the forecast period. The rising demand for crude oil & natural gas, especially from Asia Pacific, and the increasing need for safe, economical, and reliable connectivity drive the growth of the Pipeline & Process Services Market. Further, remarkable deep and ultra-deepwater discoveries of oil & gas reservoirs, the high demand for refined products, and the rapid development of midstream infrastructure will offer lucrative opportunities for the market.
The process segment of the Pipeline & Process Services Market is estimated to grow at the fastest rate during the forecast period. This is mainly because of the higher capacity additions at the gas processing facilities and LNG & FPS vessels during the forecast period. The rise in decommissioning of refineries capacities in the Europe & Sub-Saharan African region due to the shift in focus towards renewables is also growth driver of the process segment.
The global pipeline & process services market is projected to reach a size of USD 4.0 billion by 2025, at a CAGR of 5.5%, from an estimated...
According to the new market research report “Pipeline & Process Services Market by Asset Type (Pipeline: T&D; Process: FPS, Refinery & Petrochemical, Gas Storage & Processing), Operation (Pre-commissioning & Commissioning, Maintenance, Decommissioning), Region – Global Forecast to 2025″, published by MarketsandMarkets™, the Pipeline & Process Services Market size will grow to USD 4.0 billion by 2025 (forecast year) from USD 3.1 billion in 2020 (estimated year), at a CAGR of 5.5% during the forecast period. The rising demand for crude oil & natural gas, especially from Asia Pacific, and the increasing need for safe, economical, and reliable connectivity drive the growth of the Pipeline & Process Services Market. Further, remarkable deep and ultra-deepwater discoveries of oil & gas reservoirs, the high demand for refined products, and the rapid development of midstream infrastructure will offer lucrative opportunities for the market.
The process segment of the Pipeline & Process Services Market is estimated to grow at the fastest rate during the forecast period. This is mainly because of the higher capacity additions at the gas processing facilities and LNG & FPS vessels during the forecast period. The rise in decommissioning of refineries capacities in the Europe & Sub-Saharan African region due to the shift in focus towards renewables is also growth driver of the process segment.
CHICAGO, Jan. 29, 2021 /PRNewswire/ -- According to the new market research report "Pipeline & Process Services Market by Asset Type (Pipeline: T&D; Process: FPS,...
According to the new market research report "Pipeline & Process Services Market by Asset Type (Pipeline: T&D; Process: FPS, Refinery & Petrochemical, Gas Storage & Processing), Operation (Pre-commissioning & Commissioning, Maintenance, Decommissioning), Region - Global Forecast to 2025", published by MarketsandMarkets™, the Pipeline & Process Services Market size will grow to USD 4.0 billion by 2025 (forecast year) from USD 3.1 billion in 2020 (estimated year), at a CAGR of 5.5% during the forecast period. The rising demand for crude oil & natural gas, especially from Asia Pacific, and the increasing need for safe, economical, and reliable connectivity drive the growth of the Pipeline & Process Services Market. Further, remarkable deep and ultra-deepwater discoveries of oil & gas reservoirs, the high demand for refined products, and the rapid development of midstream infrastructure will offer lucrative opportunities for the market.
The process segment of the Pipeline & Process Services Market is estimated to grow at the fastest rate during the forecast period. This is mainly because of the higher capacity additions at the gas processing facilities and LNG & FPS vessels during the forecast period. The rise in decommissioning of refineries capacities in the Europe & Sub-Saharan African region due to the shift in focus towards renewables is also growth driver of the process segment.
The global pipeline integrity market is projected to reach USD 2.1 billion by 2024 from an estimated USD 1.7 billion in 2019, at a CAGR of 4.33% during the forecast period.
This growth can be attributed to huge investment pool in the pipeline business, increased government mandate and regulations for pipeline assessment, concern over environment impact, the safety of pipelines and energy infrastructure, and increased focus on the remote management of oil & gas pipeline for process optimization & automation.
America: The largest market for pipeline integrity
America is estimated to dominate the global Pipeline Integrity Market in 2019. The growth of the Pipeline Integrity Market in the Americas is driven by the rising shale gas & oil production and favorable regulations related to the licensing of Exploration & Production (E&P) activities. The US has a high integrated network of pipelines for transferring natural gas throughout the continent. Moreover, the country has a network of approximately 3 million miles of mainline and other pipelines that link natural gas production areas and storage facilities with consumers. Furthermore, in 2018, the country planned to expand the offshore drilling to more than 90% of waters in the Atlantic, the Pacific, the Gulf of Mexico, and the Arctic.
The refined product is expected to be the fastest growing segment of the pipeline integrity
The refined product segment accounted for the highest CAGR during the forecast period. Carbon dioxide (CO2), multiphase (oil and gas mixed), Mono-Ethelyne Glycol (MEG), refined petroleum products, and methanol have been considered under the refined product segment. Approximately only 1,000 km of less than 24” pipeline network is expected to be completed from 2019 to 2024. The Asia Pacific region, followed by Africa and the Middle East are expected to be the most attractive regions in this segment because of the commissioning of planned projects during the forecast period.
CHICAGO, May 6, 2019 /PRNewswire/ --Pipeline Integrity Market by Service (Testing, Inspection [Ultrasonic, Magnetic Flux, Caliper], Monitoring, Software), Application (Onshore, Offshore), Product (Oil, Gas, Refined Product), and Region: Global Forecast to 2024
The global pipeline integrity market is projected to reach USD 2.1 billion by 2024 from an estimated USD 1.7 billion in 2019, at a CAGR of 4.33% during the forecast period. This growth can be attributed to the huge investment pool in the pipeline business, increased government mandate and regulations for pipeline assessment, concern over environment impact, the safety of pipelines and energy infrastructure, and increased focus on the remote management of oil & gas pipeline for process optimization & automation.
The Americas is expected to account for the largest market size during the forecast period.
The pipeline integrity market has been analyzed with respect to 4 regions, namely, the Americas, Europe, Asia Pacific, and the Middle East & Africa. The Americas is estimated to be the largest market from 2019 to 2024. The US and Canada are among the largest markets in the Americas. In the US, approximately 70% of the crude oil and petroleum products are shipped through pipelines; and in Canada, approximately 97% of natural gas and petroleum products are shipped through pipelines. As the demand for energy produced in the Americas continues to grow, the E&P activities would continue to move further toward harsh environments. For instance, most of recent oil & gas shale discoveries has been in remote areas. Transportation of these reserves from harsh environment till storage locations needs more attention, which is expected to increase demand for pipeline integrity services in the region.