Categories: Oil & Gas

Pipeline Network Market Growth Outlook Through 2024-2033

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Overview and Scope
A pipeline network refers to a system of interconnected pipes used for the transportation of fluids or gases, including crude oil and refined petroleum products, from one location to another. It aims to transmit fluids efficiently and safely across long distances with minimal loss or contamination.

Sizing and Forecast
The pipeline network market size has grown strongly in recent years. It will grow from $9.40 billion in 2023 to $10.04 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to infrastructure development, economic growth, technological advancements, regulatory changes, energy demand.

The pipeline network market size is expected to see strong growth in the next few years. It will grow to $12.50 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to sustainability initiatives, geopolitical factors, market liberalization, digitalization, renewable energy integration. Major trends in the forecast period include shift towards renewable energy sources, increased adoption of smart pipeline technologies, expansion of natural gas infrastructure, integration of artificial intelligence and machine learning, and enhanced focus on pipeline safety and security.

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Segmentation & Regional Insights
The pipeline network market covered in this report is segmented –

1) By Offering: Solution, Operation Management And Control, Surveillance And Security, Communication System, Pipeline Geographic Information System (GIS) software, Services, Consulting, Integration and deployment, Training, Other Offerings
2) By Content: Gas Pipeline, Liquid Pipeline
3) By Applications: Pipeline Monitoring, Pipeline Operation Optimization
4) By End-User Industry: Crude And Refined Petroleum, Water And Wastewater, Other End-User IndustriesNorth America was the largest region in the pipeline network market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pipeline network market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The increasing oil production is expected to fuel the growth of the pipeline network market going forward. Oil production typically refers to the extraction or pumping of crude oil from underground reservoirs or oil wells. Oil production is increasing in response to rising global energy demand and geopolitical considerations, with the goal of meeting rising fuel and petrochemical needs while also supporting economic development and energy security. Pipeline networks are essential for oil production, efficiently transporting crude oil from extraction sites to refineries and distribution centers, ensuring a cost-effective and reliable supply chain. For instance, in May 2023, according to the Energy Information Administration, a US-based government agency, U.S. crude oil production experienced 5.6% growth in 2022, equivalent to an increase of 0.6 million barrels per day (b/d) compared to the previous year, reaching an average of 11.9 million b/d. New Mexico experienced the most significant growth in crude oil production, setting a record for the state with a 0.3 million b/d increase to 1.6 million b/d in 2022. Therefore, increasing oil production is driving the growth of the pipeline network market.

Key Industry Players
Major companies operating in the pipeline network market are Huawei Technologies Co. Ltd., Hitachi Ltd., Siemens AG, General Electric Company, Schneider Electric SE, Honeywell International Inc., ABB Ltd., Emerson Electric Co, Enbridge Inc., The Williams Companies Inc., Wipro, Rockwell Automation Inc., Xylem Inc., Targa Resources Corp., KROHNE Group, BRUGG Group AG, PSI Software, Microflex LLC, Moxa, ORBCOMM, Optasense, Pure Technologies, Sensornet

The pipeline network market report table of contents includes:

1. Executive Summary

2. Pipeline Network Market Characteristics

3. Pipeline Network Market Trends And Strategies

4. Pipeline Network Market – Macro Economic Scenario

5. Global Pipeline Network Market Size and Growth

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32. Global Pipeline Network Market Competitive Benchmarking

33. Global Pipeline Network Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Pipeline Network Market

35. Pipeline Network Market Future Outlook and Potential Analysis

36. Appendix