Pipeline Maintenance Services Market - Global Industry Analysis, Size, Share, Growth Opportunities, Future Trends, Covid-19 Impact, SWOT Analysis, Competition and Forecasts 2022 to 2030
The global Pipeline Maintenance Services market size is expected to reach close to $34.8 Billion by 2030 with an annualized growth rate of 7.9% through the projected period.
Pipeline Maintenance Services Market Overview:
Pipelines are one of the most important and cost-effective means of transportation for transporting a wide variety of products, including water, chemicals, liquid petroleum gas, natural gas, refined petroleum products, and petroleum, from production and drilling sites to end users and storage terminals. no see. products and crude oil and others. Pipelines are typically buried 1 to 2 meters below ground. Carbon steel, plastic tubing and steel are the most common materials used in pipeline construction. These pipeline tubes range in diameter from 2 inches to nearly 60 inches. These pipelines must be thoroughly inspected to prevent wax build-up, cracks, dents, wear and corrosion.
Some of the factors driving the pipeline maintenance services market are the increasing development of unconventional oil and gas sources, the need to maintain the output of aging pipeline systems, and the need to increase oil and gas pipeline infrastructure to meet the growing energy demand. It is a necessity to do. Most existing oil fields, both onshore and offshore, are aging faster than they can be replaced and are unable to supply growing energy demand. As a result, the oil and gas industry is attempting to leverage unconventional reserves to meet growing demand.
However, most unconventional resources, such as shale gas in the United States and oil sands in Canada, produce heavy and extra-heavy oil with significant levels of pollutants including bitumen, water and carbon dioxide, threatening the integrity of pipeline systems. Also, unlike conventional oils, these unconventional oils are denser and contain more nitrogen, oxygen, sulfur, heavy metals and heavy oil fractions than conventional oils.
To prevent future corrosion within the pipeline and increase the efficiency and product flow of the pipeline system, pipeline maintenance services such as cleaning with magnetic pigs are required with higher frequency due to the non-traditional nature of hydrocarbons. As a result, increasing unconventional oil and gas production is driving demand for the pipeline maintenance services market. There are many key drivers, but few restraints that can affect the growth of this market. On the other hand, high construction costs and delays in project implementation may limit the growth of this market.
Pipeline Maintenance Services Market size, estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Pipeline Maintenance Services Market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and the Russian-Ukraine war.
Key Market Updates:
- July 2020 - IKM Group contracted Johan Castberg for nitrogen-helium leak testing and PSV calibration. The company has also accepted additional bolting, hot oil flushing, chemical cleaning, drying, pipe cutting, flanging and pipe wedging.
- September 2020 – EnerMech signed a contract for 12 months in the southern North Sea. EnerMech is committed to providing a wide range of pipeline and process specialist services such as nitrogen, bolting and flange management, removal of all resources used on the project, and piping removal. The company will make a significant contribution to the new pipeline setup and assist with controlled bolted connections and leak testing.
Market Key Players:
Baker Hughes A GE Company, EnerMech, STATS Group, Intertek Group, Dacon Inspection Services, IKM Gruppen, And Others.
Major Market Segments Covered in Pipeline Maintenance Services Market Industry Research:
- Flushing and Chemical Cleaning
- Pipeline Repair and Maintenance
With the largest hydrocarbon pipeline infrastructure, the United States has been leading the market for several years. The market is expected to grow further at a healthy rate due to the expansion of oil and gas fields in the country. Aside from the United States, Canada is another major country on a regional and global level. These two countries are among the top 10 countries worldwide for pipeline infrastructure. Thus, North America, accounting for 1.44 billion units in 2020, is expected to lead the pipeline and process services market going forward.
The North Sea has been a major focus for countries such as Norway, United Kingdom, Denmark and Italy, with other countries contributing as well, giving Europe a significant share of the global market. Russia's presence in fossil fuel-producing regions largely leads to an increase in its market share in these regions.
Asia Pacific is expected to have the largest pipeline construction over the next decade, which will open up lucrative opportunities and drive the market in the region. According to the National Energy Administration (NEA), China's crude oil production reached 194 million tonnes in 2020. This increase in production is expected to bolster the domestic market along with increased transportation and refining activities. India and other Southeast Asian countries are expected to contribute in the same direction.
There are numerous transmission, collection and distribution lines in Latin America, the Middle East and Africa. Several countries such as Brazil, Mexico, Saudi Arabia, UAE, etc. have leading oil producers in both onshore and offshore regions that will propel demand for the product during the forecast period.
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Significant Market Dynamics:
Growing demand for energy in various applications to fuel growth
According to a UN report, by 2050 it is expected to account for 68% of the world's urban population, which will cause energy demand to skyrocket to very high levels. This shift in energy demand is currently being witnessed in countries with increased fossil fuel imports. Additionally, the growing number of people migrating from rural to urban areas has increased energy demand across all applications such as transportation and power generation. Renewable energy sources are still in their infancy, so the lion's share of this increased energy demand is being met by fossil fuels. This has increased production rates, construction of supply lines and transportation lines, fueling the pipeline and process services market growth.
Growing LNG Adoption Surges Pipeline Infrastructure Growth
Demand for LNG is growing in countries leading to the development of advanced pipeline infrastructure. The global need to reduce carbon emissions and the current inability to directly convert to renewable resources has increased LNG utilization. It has a low carbon footprint and is more environmentally friendly than oil and coal. As a result, developing countries are focusing on increasing the use of natural gas in the industrial, commercial and residential sectors, directly driving demand for distribution pipelines.
Growing penetration of renewable energy in overall energy mix poses a threat to market growth
One of the major threats to the market is the increasing acceptance of renewable resources for power generation in all countries around the world. Wind and solar power are major threats as they have seen their adoption grow exponentially over the past decade. The growing adoption of renewable energy to curb carbon emissions will directly omit the need for oil and gas exploration activities, acting as a blockade to the global pipeline and process services industry.
All countries have set renewable energy targets to achieve in the coming years. Some are listed here. The UK government aims to generate 50% of its electricity from renewable sources by 2025. Germany aims to produce at least 65% of its total energy with sustainable energy solutions by 2030. China is aiming to meet 16%. of energy demand through renewable energy by 2030.
Pipeline Maintenance Services Market report scope:
Key Takeaways from this Pipeline Maintenance Services Market Report
- Estimate Pipeline Maintenance Services Market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, applications and by different industry verticals.
- Understand the supply chain in depth on the value growth at each step, in order to optimize value and bring effectiveness in your processes.
- Know the different dynamics affecting the market - challenges, key driving factors and opportunities.
- Get a quick viewpoint on the Pipeline Maintenance Services Market entropy - M&A's, deals, partnerships, product launches of all key companies for the historical 5 years.
- Estimate the supply-demand gaps, import-export data and regulatory landscape for more than top 20 countries worldwide for the market.
- Get complete insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Study the sales and distribution channels over key geographies to improve top-line revenues.
Frequently Asked Questions-
What is the CAGR of Pipeline Maintenance Services Market?
The Pipeline Maintenance Services Market is growing at a CAGR of 7.9% During Forecast Period.
What are the key types of Pipeline Maintenance Services Market?
Pigging, Flushing and Chemical Cleaning, Pipeline Repair and Maintenance, Drying, Others
What are the key applications of Pipeline Maintenance Services Market?
Who are the key players in Pipeline Maintenance Services Market?Baker Hughes A GE Company, EnerMech, STATS Group, Intertek Group, Dacon Inspection Services, IKM Gruppen, And others.