Pipeline Construction Global Market Report 2024, Featuring Energy Transfer, Nippon Steel, Enterprise Products Partners, Enbridge and Larsen & Toubro

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Mar 06, 2024, 06:45 ET

DUBLIN, March 6, 2024 /PRNewswire/ -- The "Pipeline Construction Global Market Report 2024" has been added to ResearchAndMarkets.com's offering.

The pipeline construction market size has grown strongly in recent years, growing from $47.68 billion in 2023 to $50.39 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. Historical growth can be attributed to the development and production of oil and gas resources, a substantial increase in the demand for safe, economical, and reliable infrastructure for oil and gas transportation, and heightened investments in pipeline projects.

The pipeline construction market is set to grow further to $62.89 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. Anticipated growth in the forecasted period is driven by climate change initiatives, public perception and opposition, geopolitical stability, exploration of resources, and the implementation of energy transition policies. Major trends expected during this period encompass technological advancements, the expansion of the oil and gas industry, a heightened focus on research and development, and increased integration of automation and robotics.

The spike in energy consumption is a key driver behind the growth of the pipeline construction market. The increasing demand for energy is attributed to factors such as growing affluence, urbanization, and improved accessibility to electricity. Industries involved in energy production rely on pipelines to efficiently transport energy supplies, including natural gas, propane, and gasoline.

According to the World Energy Investment Report published by the International Energy Agency (IEA), a France-based international forum for sustainable energy, there was a global increase of 4.6% in energy consumption in 2021. Furthermore, the report highlighted that global energy investment reached an annual figure of $1.9 trillion. This substantial surge in energy consumption is expected to drive the pipeline construction market as the need for efficient energy transportation infrastructure becomes increasingly paramount.

The anticipated growth in demand for oil and gas production is set to propel the pipeline construction market in the coming years. Oil and gas production involves the fundamental process of converting crude oil and natural gas from wells into finished petroleum products for consumer use. In this context, pipeline construction plays a crucial role by facilitating the transportation of hydrocarbons from extraction sites to processing facilities, refineries, distribution points, and supplying natural gas to industries, power plants, and households.

For example, data from the US Energy Information Administration in March 2023 indicated an increase in crude oil output, reaching 12.4 million barrels per day (b/d) in 2023 compared to 11.7 million b/d in 2022. Furthermore, in September 2022, the average daily consumption of natural gas in the US was 86.6 billion cubic feet (Bcf/d) in 2022, representing the highest annual consumption compared to the previous year. This surge in demand for oil and gas production is a significant driver fueling the growth of the pipeline construction market, as the industry seeks to enhance its infrastructure for the efficient transportation of these critical energy resources.

The pipeline construction market is witnessing a notable trend favoring product innovations as a means to gain traction. Key industry players are actively engaged in developing inventive solutions to solidify their market presence. Notably, in November 2022, CYENS Centre of Excellence, a prominent Cyprus-based research and innovation center, introduced the beta version of DgiStreamer, an innovative imaging/video pipeline-interface tool. This GUI (graphical user interface) software stands out as a comprehensive standalone pipeline builder compatible with GStreamer and Deepstream. DgiStreamer offers a user-friendly drag-and-drop functionality, streamlining the assembly of pipeline-building elements, thereby simplifying the pipeline construction process. Its swiftness and user-friendliness surpass existing alternatives while accommodating complex configuration types, marking a significant advancement in pipeline construction technology.

Key players in the pipeline construction sector are strategically focusing on the integration of cutting-edge solutions such as vibroacoustic wave detection systems to establish a competitive advantage. These advanced systems are designed to offer real-time analysis, monitoring, and leak detection capabilities for pipelines.

Leading companies are concentrating on executing advanced pipeline projects to gain a competitive advantage. The advancement of cross-border hydrogen pipelines entails constructing infrastructure to enable the transportation of hydrogen across international borders.

This report focuses on pipeline construction market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Report Scope

Markets Covered:

By Pipe Type: Metallic; Non-Metallic
By Equipment: Valves; Pipeline; Metering Skids; Compressor stations
By Operation: Transmission; Distribution
By Application: Liquid Pipeline; Gas Pipeline
By End-user: Oil and Gas; Chemical; Water and Wastewater; Energy; Other End-users

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time Series: Five years historic and ten years forecast

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita

Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments

Companies Profiled

Energy Transfer LP
Nippon Steel Corporation
Enterprise Products Partners L.P.
Enbridge lnc.
Larsen & Toubro Ltd.
Kinder Morgan Inc.
Joint Stock Company Transneft
Tenaris S.A
Pembina Pipeline Corporation
TechnipFMC plc
TMK Group
Primoris Services Corporation
Enka Insaat ve Sanayi A.S.
Ledcor Group
Mott Macdonald Group Ltd.
Forterra Inc.
McDermott International Inc.
Bonatti S.p.A.
Spiecapag
CRC-Evans Pipeline International Inc.
Prosaic Steel & Alloys
Gateway Pipeline LLC
Pumpco Inc.
Cogbill Construction LLC
Sung IL Sim Co Ltd.
Cecon Group
Barnard Construction Company Inc.
Metal Forge India
CCI Leidingsystemen B.V.
Yena Engineering B.V.
Seonghwa Industrial Co. Ltd.
ChelPipe Group
Shengli Oil & Gas Pipe Holdings Limited
Sunland Construction Inc.
Bechtel Corporation
Snelson Companies Inc.
TC Energy Corporation

For more information about this report visit https://www.researchandmarkets.com/r/3f3asz

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