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The pipeline transport market size is estimated to grow at a CAGR of 3.18% between 2023 and 2028. The market size is forecast to increase by USD 26.71 billion. The growth of the market depends on several factors such as the benefits of pipelines over other modes of oil and gas transportation, the environmentally friendly nature of pipelines as a mode of transport, and the increasing adoption of smart monitoring systems and corrosion-resistant materials.
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A key factor shaping the pipeline transport market growth is the development of pipelines for transporting hydrogen. The expanding trend of building pipelines for transporting hydrogen is a significant development in the global pipeline transport market. In addition, hydrogen is essential for the decarbonizing industry and reaching environmental objectives. Therefore, the need for green hydrogen, which is created by electrolysis utilizing renewable energy sources, is fuelling this trend.
Moreover, countries like Japan are making investments in hydrogen infrastructure with plans to use pipelines to transfer hydrogen from production centers to consumption hubs. Furthermore, the shift in development in the energy sector is the adaptation of the pipeline transport sector as businesses and governments throughout the world embrace hydrogen as a sustainable energy source. Hence, such factors are positively impacting the market. Therefore, it is expected to drive the market growth during the forecast period.
The oil and gas segment is estimated to witness significant growth during the forecast period. Oil and gas production has historically been a significant factor in the global pipeline transport market. Government programs have played a major role in forming this sector. For instance, the Biden administration in the United States has raised controls and limits on new oil and gas pipelines as a result of its emphasis on clean energy and environmental sustainability.
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Government initiatives to improve infrastructure development and energy security in nations like India have sparked investments in oil and gas pipelines. For instance, the Nord Stream 2 project in Russia is a prime example of a government-backed initiative to improve the transportation of oil and gas. Furthermore, even while some regions are transitioning away from a reliance on oil and gas, others continue to give these pipelines top priority and support because of their need for economic and energy security. Hence, such factors are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.
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North America is estimated to contribute 48% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
One of the major factors contributing to the market growth in the region is the economic expansion in countries such as the US, Canada, Mexico, and others.In addition, the pipeline transport market in North America has recently shown resilience and development. Moreover, several initiatives from the government were essential in creating this situation. For example, the Pipeline Safety, Regulatory Certainty, and Job Creation Act of 2011 improved safety standards and regulatory predictability, boosting investor confidence. Hence, such factors are driving the market in North America during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global pipeline transport market witnessed a significant slowdown due to decreased economic activity causing the demand for oil and gas to diminish, which in turn resulted in a reduction in pipeline utilization in North America. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the restoration of operations, which in turn increased the demand for energy transportation. Such factors are expected to drive the market during the forecast period.
One of the key factors driving the pipeline transport market growth is the environmentally friendly nature of pipelines as a mode of transport. A key factor fuelling the global pipeline transport market is the conviction that pipelines are a more environmentally friendly means of transportation than alternatives like shipping or trucking. In addition, the selection is mostly attributable to pipelines' smaller carbon footprint and lessened environmental impact.
For example, compared to trucks and ships, pipelines create fewer greenhouse emissions per unit of goods delivered. As a result, this makes pipelines a desirable alternative for the transportation of oil, natural gas, and other energy resources because it is in line with efforts made on a global scale to combat climate change and reduce emissions. Hence, such factors are positively impacting the market. Therefore, it is expected to drive the market growth during the forecast period.
The high cost of maintenance of pipeline and transportation infrastructure is one of the key challenges hindering market growth. Pipelines require routine maintenance to maintain their reliability, safety, and efficiency because they frequently travel through a variety of terrains over great distances. In addition, inspections, corrosion control, leak repairs, damage repairs, and compliance with developing safety rules are all maintenance costs that necessitate significant financial outlays.
For example, the US, which has one of the largest pipeline networks worldwide, has to pay billions of dollars in maintenance expenses every year. In addition, due to specialized equipment and environmental considerations, pipelines in distant or environmentally sensitive places, including Arctic regions or water crossings, involve significantly greater costs. As a result, this financial load may have an adverse effect on the profitability of pipeline operators, reducing the accessibility and long-term viability of pipeline transportation as a means of delivering resources and energy. Hence, such factors are negatively impacting the market. Therefore, it is expected to hinder the market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Pipeline Transport Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
ABB Ltd: The company offers telecoms and control systems for TANAP gas pipeline.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The pipeline transport market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
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Pipeline Transport Market Scope |
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Report Coverage |
Details |
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Page number |
167 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 3.18% |
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Market growth 2024-2028 |
USD 26.71 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
2.66 |
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Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
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Performing market contribution |
North America at 48% |
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Key countries |
US, Canada, China, Russia, and Ukraine |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
ABB Ltd., China National Petroleum Corp., ConocoPhillips Co., Emerson Electric Co., Enbridge Inc., Energy Transfer LP, Enterprise Products Partners LP, General Electric Co., Huawei Technologies Co. Ltd., Indian Oil Corp. Ltd., Inter Pipeline Ltd., Kinder Morgan Inc., ONEOK Inc., Plains All American Pipeline L.P., Rockwell Automation Inc., Shell plc, Siemens Energy AG, TC Energy, TechnipFMC plc, and West Shore Pipe Line Co. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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