Increase in demand for oil & gas, rise in the production of offshore resources, and surge in demand for cost efficient transportation system for chemicals and other liquids drive the growth of the global pipeline transportation market. On the other hand, presence of intrusion and leakage detection during transportation impede the growth to some extent. However, emerging technologies to overcome pipeline transportation are expected to pave the way for lucrative opportunities in the industry.
The global pipeline transportation market was estimated at $16.3 billion in 2020 and is expected to hit $34.8 billion by 2030, registering a CAGR of 7.9% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.
Pipeline transportation is a method of transportation that involves the transportation of solid, liquid, or gaseous products over long distances through pipelines. It is mostly used to transport crude and refined petroleum products such as oil and gas. In addition to this, it is also useful for transporting other fluids such as water, slurry, sewage, and beer. It has numerous advantages such as flexibility, complete automation of various operations such as loading & unloading, low operating costs, and environmental friendliness are major factors for the growth of the pipeline transportation market opportunities.
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Pipeline Transportation Market Segment Review
By service, the maintenance and support segment contributed to the major share in 2020, accounting for nearly two-fifths of the global market, and is expected to lead the trail during the forecast period. The same segment is also anticipated to cite the fastest CAGR of 8.5% from 2021 to 2030.
By solution type, it is divided into security solutions, automation and control, integrity and tracking solution, network communication solution, and others. The network communications solution segment accounted for the largest pipeline transportation market share in the global pipeline transportation market in 2021. Optical fiber networks, microwave networks, and satellite networks are widely used in network communication solutions. By service, the maintenance and support segment accounted for the largest share in 2021, owing to demand for maintenance and supporting technologies to maintain the ease of transportation of liquids through pipes to various end-use industries. An increase in demand for petroleum products in countries such as China and India, have benefited the pipeline transportation market.
On the basis of type, the oil and gas segment accounted for 51.6% of the pipeline transportation market share in 2021 and is expected to maintain its dominance during the forecast period. Pipelines are generally the most economical way to transport large quantities of oil, refined oil products, and natural gas over land. There are three types of pipelines that carry oil such as gathering systems, crude oil pipeline systems, and refined products pipelines systems. The crude oil pipeline system carries crude oil to refineries while refined product pipelines transport refined products such as gasoline, kerosene, jet fuel, and heating oil from refineries to the market.
By region, Asia-Pacific held the highest market share in terms of revenue 2020, garnering nearly two-fifths of the global market. The same region is also expected to showcase the fastest CAGR of 8.9% throughout the forecast period. The other provinces discussed in the report include North America, Europe and LAMEA.
Pipeline Transportation Market Key Players
The key market players analyzed in the global pipeline transportation market report include ABB Ltd., Schneider Electric, Siemens, Alcatel-Lucent, ESRI, Alstom, Trimble Navigation Limited, Emerson, Rockwell Automation, and FMC Technologies. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
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