The pipeline transportation market comprises of pipeline transportation services used by organizations such as transmission pipelines for transporting products, such as petroleum, natural gas, refined petroleum products, and slurry. The pipelines are also used for storing gas as the storage work is typically carried out by pipeline establishment. The pipeline network is inherently a network wherein all nodes are typically interdependent and interconnected.
According to the study, “Pipeline Transportation Global Market Report 2019” Some of the key players operating in the market include ABB, Aconex Limited, Alcatel-Lucent, Alstom, Siemens, ESRI, John Wood Group PLC, Trimble Navigation Limited, FMC Technologies, Emerson Electric Co., Schneider Electric, Rockwell Automation, Inc., and TechnipFMC plc., among others. Some of the key strategies adopted by market players include product developments, partnerships, mergers and acquisitions.
Based on type, the pipeline transportation market is segmented into a crude oil pipeline transportation, natural gas pipeline transportation, refined petroleum products pipeline transportation and other pipeline transportation.
The growth in pipeline transportation is especially based on increasing the stability in oil costs and growing investments in oil infrastructure. Pipeline transportation is said to be a vital a part of an economy as it proves to be a secure, much efficient and economical for moving energy assets from exploration site to production areas with respect to consumers. Pipelines establishments have become longer with the developing economy, infrastructure, and dependence on electricity sources, thereby creating the growth of the pipeline transportation market. Moreover, proficiency of the pipeline network also depends on technological solutions associated with security, automation, control, networking, and tracking.
However, the marketplace for pipeline transportation may face restraints associated with several elements associated with the government regulations and growing utilization of other electricity alternatives. A substantial increase in the production of offshore production has led to a rise in demand for oil and natural gas and the demand for low-cost transportation methods are driving the market growth. Some of the latest emerging technologies such as leak detection, intrusion detection, tracking, and video surveillance, and SCADA is further expected to support the market growth over the forecast period.
Based on geography the global pipeline transportation is segmented into North America, Asia-Pacific, Eastern Europe, Western Europe South America, the Middle East, and Africa. Among these regions, the Asia Pacific region accounted for the largest share in the pipeline transportation market accounted for nearly one-third of the total. The North American region was the second largest region accounting for one-fourth of the global pipeline transportation market. Africa held the smallest share in the global pipeline transportation market.
The adoption of new technological developments associated with Internet-of-Things (IoT) is one of the key trends registered in the pipeline transportation market. The IoT linked assets such as people, products, and services to streamline the flow of data, making real-time choices, and improve the asset performance, process, and overall product quality. Major oil pipeline players have already started designing strategies integrated with IoT based technologies. Moreover, the emerging economic growth followed by a rise in oil infrastructure is further expected to increase the scope and the potential of the global pipeline transportation market over the forecast period.
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