Pipeline Transportation Market Characteristics
The pipeline transportation market consists of sales of pipeline transportation services, 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. This industry includes the storage of natural gas because the storage is usually done by the pipeline establishment and because a pipeline is inherently a network in which all the nodes are interdependent.
Competitive Landscape of the Pipeline Transportation Market
Major players in the global pipeline transportation market include ABB Group, Alcatel-Lucent, Emerson Electric Co, FMC Technologies, Schneider Electric.
Pipeline Transportation Market Size
The pipeline transportation market size is expected to increase by 2022, significantly growing at a steady CAGR during the forecast period. The growth in the pipeline transportation is mainly due to stability in oil prices and increasing investments in oil infrastructure.
However, the market for pipeline transportation is expected to face certain restraints from several factors such as stringent government regulations and increasing usage of other energy alternatives.
Pipeline Transportation Market Segmentation
The global pipeline transportation market is further segmented based on type and geography.
By Type - The pipeline transportation market is segmented into crude oil pipeline transportation, natural gas pipeline transportation, refined petroleum products pipeline transportation and others pipeline transportation.
By Geography - The global pipeline transportation is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the Asia Pacific region accounted for the largest region in the global pipeline transportation market.
Trends in the Pipeline Transportation Market
Adotption of technological advancements such as IoT is one of the major trends witnessed in the pipeline transportation market.
Potential Opportunities in the Pipeline Transportation Market
Emerging economic growth and rising oil infrastructure is expected to increase the scope and potential for the global pipeline transportation market in the forecast period.
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