Global Pipeline And Process Services market research 2024, Forecast To 2033
4 Mar, 2024
The pipeline and process services market size has grown strongly in recent years. It will grow from $3.78 billion in 2023 to$4.02 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to infrastructure rehabilitation, globalization of energy trade, shifts in energy sources, economic factors, infrastructure expansion. The pipeline and process services market size is expected to see strong growth in the next few years. It will grow to $5.2 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to efficiency and cost reduction, water infrastructure services, geopolitical factors, increasing global energy demand, smart infrastructure development. Major trends in the forecast period include energy transition, maintenance and integrity, automation and digitalization, pipeline expansion projects, environmental regulations.
Global Pipeline And Process Services Market Key Driver
The escalating demand for oil and natural gas is expected to fuel growth in the pipeline and process services market. Oil and natural gas remain crucial energy resources globally, with increasing demand projected in markets like India, where oil demand is set to double by 2045, according to the India Brand Equity Foundation. Pipeline and process services play a vital role in ensuring the efficient transportation of these essential fuels throughout their lifecycle. Consequently, the surging demand for oil and natural gas is expected to drive growth in the pipeline and process services market.
Get A Free Sample Of The Global Pipeline And Process Services Market ReportGlobal Pipeline And Process Services Market Segments
The global pipeline and process services market covered in this report is segmented –
1) By Operation: Pre-Commissioning And Commissioning, Maintenance, Decommissioning
2) By Asset Type: Pipeline, Process
3) By Raw Material: Plastic, Carbon Steel, Steel
4) By End-Users: Oil And Gas Industry, Chemical Industry, Water Treatment Industry, Construction And Manufacturing Industry, Other By End-Users
By Geography: The regions covered in the pipeline and process services market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
North America was the largest region in the pipeline and process services market share in 2023. The regions covered in the pipeline and process services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Pipeline And Process Services Industry Players
Halliburton Company, Baker Hughes Company, EnerMech Ltd., IKM Gruppen AS, Altus Intervention, Ideh Pouyan Energy Co, Trans Asia Pipeline Services, Techfem Spa, Enerpac Tool Group, STEP Energy Services, Chenergy Services Limited, CR Asia Group, Eunisell Limited, Alphaden Energy and Oilfield Limited, Cypress Pipeline & Process Services, Hydratight, Blue Fin Group, Tucker Energy Services, IPEC Ltd., Barnard Construction Company Inc., Sunland Construction Inc., Snelson Companies Inc., STATS Group, Intertek Group PLC, Oil States Industries Inc., T.D. Williamson, MISTRAS Group Inc., Shawcor Ltd., Schlumberger Limited, Weatherford International
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Pipeline And Process Services Market Overview
Pipeline and process services are pre-commissioning, commissioning and maintenance services during which the installed pipeline goes through several procedures to ascertain its full functionality. The pipeline and process services are used to maintain the pipeline in good condition while it is in operation and involve several tasks performed on pipelines.
Pipeline And Process Services Global Market Report 2023 provides data on the global pipeline and process services market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The pipeline and process services market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.