Pipelines are used to transport the several kinds of products such as oil, chemicals, water, natural gas, gas, petroleum products, and crude oil from the production sites to end users. Pipelines are generally fitted to the depth of 1m to 2m underground. Pipeline operations and process management are the key element offered by the pipeline and process market. Raw material used for manufacturing the pipelines are steel, carbon steel, and plastic. Oil and gas industry, chemical industry, water treatment industry, construction and manufacturing industry are the end users of pipelines and process service market.
COVID-19 Impact analysis
- COVID-19 pandemic had affected the sales revenue of the pipeline & process service industry attributed to the lockdown in countries worldwide. This has hampered the growth of pipeline & process service market in 2020 and, is likely to revive in 2021.
- COVID-19 has already affected the sales of pipeline & process service in the second and third quarter of 2020 and is reviving in 2021.
- The major demand for pipeline & process service was previously noticed from countries including the U.S., UK, and India, which are negatively affected by the spread of the corona virus, thereby declining the demand for pipeline & process service.
- Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Pipeline & process service providers can afford a full lockdown only for a few months, after which the players have to modify their investment plans.
Top Impacting Factors
Rise in demand for energy and oil & gas across the globe is a key driver in the pipelines & process service market. In addition, surge in investment in manufacturing and constructions drives the growth of the market. Shift in focus toward productive wells is expected to surge the demand for production of oil & gas in the near future which can create opportunities for the market of pipelines & process service. Initiatives taken by governments of many countries for waste water management & treatment for city planning boosts the demand for pipelines & process service. One of the most dominant users of pipelines & process services is the chemical industry, where it is used for creating the channels and grids of chemical transportation under various temperatures. This is a key driving factor for the carbon steel and steel pipelines.
- North America is dominating the global market of pipelines & process services. U.S. holds 20 Lakh km of pipelines used for the transportation of various products.
- One of the major consumers of oil, gas and refined petroleum product is China. Due to pandemic, oil and gas sector of China is severely impacted and pipeline & process market is in declining phase for now.
- Middle East is a prominent consumer of pipeline & process market due to vast availability of crude oil reserves. Even after the impact of pandemic, the market of pipeline & process market is growing in countries such as Saudi Arabia, Iraq and Iran.
- Crude oil reserve in countries like Canada, Brazil, Kuwait and Norway is not very vast, but the demand of pipeline & process is increasing for the effective and efficient extraction and supply of oil, gas and petroleum products.
- In Asia-Pacific Region, Indian government has initiated the waste water management and treatment in states like Maharashtra, Tamil Nadu and Rajasthan which is likely to surge the growth of the pipeline and process service market.
Key Benefits of the Report
- This study presents the analytical depiction of the pipeline & process service market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the pipeline & process service market share.
- The current market is quantitatively analyzed to highlight the pipeline & process service market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed pipeline & process service market analysis based on competitive intensity and how the competition will take shape in coming years.
Pipeline & Process Service Market Report Highlights
By Asset Types
By Raw Material
By Operation Type
Key Market Players
Enermech, Halliburton, Enerpac Tool Group, Altus Intervention, Chenergy Services., Step Energy Services, Bluefin, IKM Grupen, Baker Hughes Company, Techfem, Trans Asia Pipeline & Specialty Services, IPEC