The virtual pipeline global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Virtual Pipeline Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The virtual pipeline market size has grown strongly in recent years. It will grow from $1.60 billion in 2023 to $1.70 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to growth in demand for natural gas, increased remote energy access, increased energy security concerns, increased focus on cost-effective energy distribution solutions, and rise in awareness about the benefits of natural gas.
The virtual pipeline market size is expected to see strong growth in the next few years. It will grow to $2.17 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to increasing urbanization, expansion of industrial sectors, increasing renewable energy integration, increasing investments in energy infrastructure, growing emphasis on reducing carbon emissions. Major trends in the forecast period include expansion into new markets, technological advancements, integration with renewable energy, regulatory support and standards, partnerships and collaborations, focus on safety and environmental compliance, demand from remote and off-grid markets, economic viability and cost competitiveness, and focus on sustainability.
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Scope Of Virtual Pipeline Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Virtual Pipeline Market Overview
Market Drivers –
The increasing demand for natural gas is expected to propel the growth of the virtual pipeline market going forward. Natural gas is a combustible gas comprised largely of methane that is discovered underground and used as a fuel source for heating, cooking, electricity generation, and transportation. The demand for natural gas is increasing due to its role as a cleaner-burning fossil fuel, its versatility in power generation, industrial processes, and heating, and its potential as a transition fuel in the global shift towards lower-carbon energy sources. Virtual pipelines are utilized in the transportation of natural gas, primarily in areas where traditional pipeline infrastructure is unavailable, economically impractical, or insufficient to meet demand. For instance, in March 2023, according to a report shared by the Energy Information Administration, a US-based government agency, the average daily consumption of natural gas in the United States hit an all-time high of 88.5 billion cubic feet per day in 2022, representing a 5% increase over 2021, with natural gas consumption reaching 4.5 billion cubic feet daily (Bcf/d). Furthermore, in 2022, US end-user sectors consumed 38% of total natural gas. Therefore, the increasing demand for natural gas is driving the growth of the virtual pipeline market.
Market Trends –
Major companies operating in the virtual pipeline market are investing in technology and partnering with energy companies for natural gas and hydrogen transport systems, such as virtual pipeline trailers, to address the rising energy needs in remote and industrial areas. Virtual pipeline trailers are specialized transportation units designed to transport compressed natural gas (CNG) or liquefied natural gas (LNG) from one location to another, typically where traditional pipeline infrastructure is unavailable or impractical. For instance, in February 2021, Quantum Fuel Systems LLC, a US-based integrated alternative energy company, secured a significant contract from Certarus Ltd., a Canada-based green energy supplier, to supply virtual pipeline trailers for natural gas. Under the agreement, Quantum will deliver its VPLite45/40’ trailers, known for their high capacity and lightweight design, certified for use in the U.S. and Canada. This contract, valued at approximately $22 million, underscores Quantum’s commitment to supporting Certarus’ expansion efforts. Furthermore, the agreement encompasses the development of hydrogen virtual pipeline trailers, catering to the increasing demand for hydrogen transportation in various pilot projects.
The virtual pipeline market covered in this report is segmented –
1) By Fuel Type: Compressed Natural Gas (CNG), Liquefied Natural Gas (LNG), Other Fuel Types
2) By Mode Of Transport: Truck, Barge, Rail, Ship
3) By End-Use: Commercial, Industrial, Transportation
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Regional Insights –
North America was the largest region in the virtual pipeline market in 2023. It is expected to be the fastest-growing region in the forecast period. The regions covered in the virtual pipeline market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the virtual pipeline market report are Eni S.p.A.; National Petroleum Limited (Petronas); General Electric Company; Compass Natural Gas Partners LP (CNGP); Baker Hughes Company; Kinder Morgan Inc.; Wärtsilä Corporation; Snam S.p.A.; LightSail Energy Inc.; Hexagon Composites ASA; Broadwind Inc.; Pentagon Energy LLC; Certarus Ltd.; SENER Grupo de Ingeniería S.A.; Stabilis Solutions Inc.; FIBA Technologies Inc.; Galileo Technologies S.A.; Gas Malaysia Berhad; NG Advantage LLC; Cobey Inc.; REV LNG LLC; OsComp Systems Inc.; CNG Services Limited; Xpress Natural Gas LLC; Marlin Gas Services Ltd.
Table of Contents
1. Executive Summary
2. Virtual Pipeline Market Characteristics
3. Virtual Pipeline Market Trends And Strategies
4. Virtual Pipeline Market – Macro Economic Scenario
5. Global Virtual Pipeline Market Size and Growth
…..
32. Global Virtual Pipeline Market Competitive Benchmarking
33. Global Virtual Pipeline Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Virtual Pipeline Market
35. Virtual Pipeline Market Future Outlook and Potential Analysis
36. Appendix
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