According to a new report published by Allied Market Research, titled, "Pipeline Transportation market by Type, by Solution and by Services: Global Opportunity Analysis and Industry Forecast, 2020-2030," the global Pipeline transportation market size was valued at $16.3 billion in 2020, and Pipeline transportation market forecast projected to reach $34.8 billion by 2030, at a CAGR of 7.9% from 2021 to 2030.
Pipeline transportation is a method of transportation which involves the transportation of solid, liquid or gaseous products over long distance 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 transport 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 factor for the growth of pipeline transportation market.
The need for constant surveillance and monitoring services as pipelines can be target of vandalism. It also faces challenges in steady and smooth operations. Many pipelines across the world carry chemical stable and flammable materials over long distance and have to cross water expansions, terrains and hills led to increase in the intrusion and leakage of flammable gas and fuels are all the factors hampering the growth of the pipeline transportation market in the forecast period.
The Rapid upgrade in the pipeline transportation system towards virtualisation 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 market. The need for cost efficient and safe mode of transport for the hazardous chemicals and other liquids & gases is boosting the demand for the market. The presence of illegal activities and the danger due to the intervention of terrorist are some factors which will provide ample opportunities for the growth of the pipeline transportation market.
The global Pipeline transportation is segmented on the basis of by type, by solution, by service and region.
On the basis of type, the global Pipeline transportation market is segmented into Oil and gas, Coal, Chemical, Water, and Other. By Solution it is segmented into Security Solutions, Automation and Control, Integrity and Tracking Solution, Network Communication Solution, and Others. The services introduced in the study include Consulting Service, Managed Service, and Maintenance and Support.
Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, Asia-Pacific accounts for the largest share of the market, followed by North America and Europe.
The major companies profiled in this Pipeline transportation industry include Alstom, ABB Ltd, Schneider Electric, Siemens, ESRI, Emerson, Trimble Navigation Limited, Rockwell Automation, FMC Technologies, and Alcatel-Lucent. Due to rapidly increasing demand in the demand for large scale petroleum and chemical raw materials in the modern society led to on-going pipeline infrastructure development in developing countries, and the old pipelines are being virtualization due to the rapid development of detection technology led the key manufacturers expand their Pipeline transportation production capacities and safety factor in order to meet market demand across the globe. Additional growth strategies such as acquisition, partnership, product launch and business expansion strategies are also adopted to attain key developments in the Pipeline transportation market trends.
Impact Of Covid-19 On The Global Pipeline Transportation Market
- Emergence of COVID-19 had a negative impact on the growth of the global Pipeline transportation market during this period.
- This impact is mostly attributed due to shutdown of many manufacturing industries led to decline of demand for Pipeline transportation during this period.
- The decrease in demand for many non-essential products and shut down of electrical, automotive, and other energy related industries has created a negative impact on the development of Pipeline transportation market
- The increasing awareness among the people regarding the environment pollution caused by the conventional transportation of the fossil fuels and chemicals is a good opportunities for market.
- Thus, the abovementioned factors are expected to have great impact on the global Pipeline transportation market growth in this forecast period.
Key findings of the study
- Region wise, the Asia-Pacific is projected to witness growth at the highest CAGR in terms of revenue, during the forecast period.
- As per Pipeline transportation market analysis, by type, the oil and gas segment accounted for the largest share in 2020.
- On the basis of solutions, the network communication solutions segment accounted for the largest share in 2020.
- On the basis of services, the maintenance and support segment was the major share contributor in 2020.