Pipeline Transportation Market Expected to Reach $37.4 Billion by 2031 — Allied Market Research
PORTLAND, OREGON, UNITED STATES, June 26, 2023/EINPresswire.com/ — 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. The pipeline transportation market size was valued at $17.9 billion in 2021, and the pipeline transportation industry is estimated to reach $37.4 billion by 2031, growing at a CAGR of 7.7% from 2022 to 2031.
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The need for constant surveillance and monitoring services as pipelines can be the target of vandalism has driven the demand for security solutions in this market. It also faces challenges in steady and smooth operations. Many pipelines across the world carry chemically stable and flammable materials over long distances and must cross water expansions, terrains, and hills leading to an increase in the intrusion and leakage of flammable gas and fuels are all the factors hampering the growth of the pipeline transportation market trends during the forecast period.
Rapid upgrade in the pipeline transportation system toward virtualization and the connectivity of the detection and management equipment with the communication equipment is a major factor increasing the demand for network communication solutions in the pipeline transportation market. The need for cost-efficient and safe modes of transport for hazardous chemicals and other liquids & gases is boosting the demand for the market.The presence of illegal activities and the danger due to intervention of terrorists are some factors that will provide many opportunities for the pipeline transportation market growth.
The global pipeline transportation market forecast is segmented into type, solution type, service, and region. By type, the market is segmented into oil and gas, coal, chemical, water, and others. On the basis of type, the oil and gas segment accounted for the largest market share in 2021, owing to its wide range of end-use applications in transportation, chemicals, automotive, and paints.
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.
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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 solution, Network Communication Solution segment accounted for the largest share in 2021 and is expected to support its dominance during the forecast period. It utilizes optical fiber cables as the primary communication medium for converting data and passing data as light pulses between sender and receiver nodes. A microwave network is a communication system that uses a beam of radio waves in the microwave frequency to transmit information between two fixed locations on the earth. It plays a crucial role in many industries in the form of communication.
By service, the maintenance and support service segment accounted for the largest share in 2021 and is expected to support its dominance during the forecast period. The technical meaning of maintenance involves functional checks, servicing, repairing of necessary devices, equipment, and machinery, building infrastructure and supporting utilities in industrial, business, and residential installations.
Region-wise, Asia-Pacific accounted for the largest share in the market and is projected to grow at a CAGR of 8.1% during the forecast period. The presence of developing and highly populated countries such as China, and India, has increased the demand for various needs, which led to the development of pipeline transportation systems. In this region, China, India, and Indonesia come in the top 20 countries in the world with a huge pipeline transportation network.
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Key findings of the study
– As per pipeline transportation market analysis, on the basis of type, the oil and gas segment emerged as the global leader by acquiring more than 51.6% of the pipeline transportation market share in 2021 and is anticipated to continue this trend during the forecast period.
– On the basis of solution type, the network communication segment accounted for 32.0% of the global pipeline transportation market share in FY2021.
– On the basis of service, the maintenance and support segment accounted for 40.0% of the global market share in FY2021.
Key players in the pipeline transportation industry include Alstom, ABB Ltd, Schneider Electric, Siemens, ESRI, Emerson, Trimble Navigation Limited, Rockwell Automation, FMC Technologies, and Alcatel-Lucent.
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