Global Pipeline Transport Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends
23 Mar, 2021
The pipeline transport market consists of sales of pipeline transportation services and related goods by entities (organizations, sole traders and partnerships) that use transmission pipelines to transport products, such as crude oil, natural gas, refined petroleum products, and slurry. The pipeline transport market is segmented into crude oil pipeline transport, natural gas pipeline transport, refined petroleum products pipeline transport and other pipeline transport.
Global Pipeline Transport Market Size And Drivers:
The global pipeline transport market is expected to grow from $170.6 billion in 2020 to $180.3 billion in 2021 at a compound annual growth rate (CAGR) of 6%. The market is expected to reach $262.1 billion in 2025 at a CAGR of 10%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges.
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Trends In The Global Pipeline Transport Market
Pipeline transportation companies are using augmented reality for efficient maintenance operations. Augmented reality (AR) is the technology of combining real-world images, video, etc. with computer-generated information and/or imagery being viewed through an output including a monitor, headset, etc. AR overlays digital elements onto the physical world, typically using a headset or tablet that the user can point toward real-life objects. In the pipeline transportation industry, AR headsets that clip onto hard hats can project hands-free instructions a technician needs onto equipment to conduct an inspection or maintain a system.
Global Pipeline Transport Market Segments:
The global pipeline transport market is further segmented based on type and geography.
By Type: Crude Oil Pipeline Transport, Natural Gas Pipeline Transport, Refined Petroleum Products Pipeline Transport, Other Pipeline Transport
By Geography: The global pipeline transport market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global pipeline transport market, accounting for 29% of the total market.
Read More On The Report For The Global Pipeline Transport Market At:https://www.thebusinessresearchcompany.com/report/pipeline-transport-global-market-report-2020-30-covid-19-impact-and-recovery
Pipeline Transport Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides pipeline transport market overviews, analyzes and forecasts market size and growth for the global pipeline transport market, pipeline transport market share, pipeline transport market players, pipeline transport market segments and geographies, pipeline transport market’s leading competitors’ revenues, profiles and market shares. The pipeline transport market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.