Pipeline & Process Services Market Analysis
The Global Pipeline & Process Services Market Size is expected to cross USD 4.8 Billion, at a CAGR of 5.2% during the forecast period ending in 2030.
The pipeline and process services offer pre-commissioning services for oil and gas construction sector through project management and detailed engineering. It also offers turnaround services, shutdown, and maintenance to the midstream and upstream sectors of the oil and gas industry.
Various factors are fuelling the global pipeline & process services market growth. As per the recent MRFR market estimates, such factors include the growing natural gas consumption, high investment lined for pipeline business procedures, rising demand for energy and discovery of new oil and gas reserves, increasing need for reliable, economical, and safe connectivity, the production of oil and gas, increased substantiality of new sources of energy, deployment of advancement drilling technology, and shifting focus on productive wells.
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CAGR
5.2% CAGR (2022-2030)
Base Year
2021
Forecast Period
2022-2030
Historical Data
2019 & 2020
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Asset Type, Process, Operation and End Users
Geographies Covered
North America, Europe, Asia-Pacific, and Rest of the World (RoW)
On the contrary, the impact of the COVID-19 pandemic, rapid shift to renewable energy, severe climate conditions, high construction cost of offshore pipelines, political instability affecting cross-border projects, and rapid shift to renewable energy generation may limit the global pipeline & process services market growth over the forecast period.
Scope of the Report
This report provides an in-depth analysis of the global pipeline & process services market, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights the market size and shares for North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. The report also presents a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global pipeline & process services market by asset type, operation, end-users, and region.
Market Segmentation
The MRFR report throws light on an inclusive segmental analysis of the global pipeline & process services market based on end user, operation, and asset type.
- Based on asset type, the global pipeline & process services market is segmented into process and pipeline. Of these, the pipeline segment will lead the market over the forecast period.
- Based on operation, the global pipeline & process services market is segmented into de-commissioning, and pre-commissioning and commissioning. Of these, the pre-commissioning and commissioning will dominate the market over the forecast period.
- Based on end user, the global pipeline & process services market is segmented into oil and gas, water and wastewater, chemicals and refined products, power generation, and others. Of these, the oil and gas segment will spearhead the market over the forecast period.
Regional Analysis
By region, the global pipeline & process services market covers the recent trends and growth opportunity across Europe, the Asia Pacific (APAC), North America, South America, and the Middle East and Africa (MEA).
- North America will spearhead the market over the forecast period. The transportation of produced crude and natural gas from remote locations, and recent discovery of certain new extraction techniques that has opened multiple oil and gas shale regions in remote areas, are adding to the global pipeline & process services market growth in the region.
- In the APAC region, the pipeline & process services market is predicted to grow at a fast pace over the forecast period. Surging need for natural gas and crude oil in the country, increase in refining capacities, and higher refined product pipeline additions due to the increasing need for petroleum products are adding to the global pipeline & process services market growth in the region.
- In Europe, the pipeline & process services market is predicted to have healthy growth over the forecast period. Increasing production of oil & natural gas and upcoming oil and gas pipeline in the country are adding to the global pipeline & process services market growth in the region. Norway, Germany, and Russia hold the utmost market share.
- In the MEA, the pipeline & process services market is predicted to have sound growth over the forecast period for the development in new projects coupled with the expansion of gas storage/processing and refineries.
- In South America, the pipeline & process services market is predicted to have steady growth over the forecast period.
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Key Players
The notable players profiled in the global pipeline & process services market report include Trans Asia Pipeline & Specialty Services (UAE), IPEC Ltd. (UK), Tucker Energy Services (US), IKM Ocean Design (Norway), Chenergy Services Limited (Nigeria), Blue Fin Group (US), Altus Intervention (Norway), Techfem SpA (Italy), Hydratight (UK), Enermech (Scotland), BHGE (US), and Halliburton (US), among others.
