Market Research Future (MRFR) has published on the “Global Pipeline Construction Market”.
The Pipeline Construction market is estimated to register a CAGR of 4.8% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global Pipeline Construction market— Metal Forge India, Prosaic Steel and Alloys, Bechtel Corporation, Cogbill Construction LLC, CCI Leidingsystemen B.V, Yena Engineering B.V., Enka Insaat Ve Sanayi, Larsen & Turbo Limited, Seonghwa Industrial Co Ltd, and Sung Il Sim Co. Ltd. These pipeline contractors have a strong regional and global presence and are extensively covered in the pipeline market report.
Pipeline Construction Market Highlights
The global Pipeline Construction market is accounted to register a CAGR of 4.8% during the forecast period and is estimated to reach USD 73.03 Billion by 2032.
The Pipeline Construction market has experienced significant growth in recent years, driven by the exploration and production of oil, gas, and other natural resources often require the pipeline excavation and construction to transport these resources from remote or offshore locations to processing facilities or export terminals. As new reserves are discovered or existing ones are expanded, construction of pipeline projects are initiated to support extraction activities. Pipelines are considered a relatively environmentally friendly mode of transportation compared to alternatives such as trucking or shipping. They help reduce carbon emissions, minimize the risk of spills and accidents associated with other transportation methods, and preserve natural habitats by reducing the need for land disturbance. Environmental concerns and the focus on sustainable energy infrastructure have driven pipeline construction in some regions. Advancements in pipeline construction technologies, such as improved materials, welding techniques, monitoring systems, and inspection tools, have increased the efficiency, safety, and lifespan of pipelines. These advancements have contributed to the growth of the pipeline industry by making projects more feasible and cost-effective.
Segment Analysis
The global Pipeline Construction market report has been segmented based pipe type, application, and end user.
Based on Pipe type, the global Pipeline Construction market segmentation includes metallic and non-metallic. Metallic dominated the pipe type segment in 2022 and is expected to grow at a significant rate during the forecast period.The metallic pipeline segment is driven by factors such as the need for reliable and efficient transportation of fluids, infrastructure development projects, exploration and production of oil and gas, industrial growth, and increasing demand for water management systems. Population growth, urbanization, and industrialization contribute to the rising demand for metallic pipelines.
The non-metallic pipeline segment has been experiencing steady growth due to the increasing adoption of non-metallic materials in pipeline construction. This growth is driven by factors such as the need for corrosion-resistant pipelines, the expansion of water and wastewater infrastructure, the development of shale gas and oil fields, and the focus on environmental sustainability. Non-metallic pipelines find applications across various industries, including water and wastewater, oil and gas, chemical, mining, power generation, and agriculture.
Based on Application, the global Pipeline Construction market segmentation includes liquid pipeline and gas pipeline. Gas pipeline segment dominated the Pipeline Construction market in 2022. Natural gas pipelines play a crucial role in delivering natural gas from production areas to end-users, including residential, commercial, industrial, and power generation sectors. The demand for natural gas has been steadily increasing worldwide due to its cleaner-burning properties compared to other fossil fuels. Natural gas is used for various applications, including heating, cooking, electricity generation, and industrial processes. The growing demand for natural gas drives the need for expanded gas pipeline infrastructure.
Liquids transported through pipelines can include crude oil, petroleum products, refined fuels, natural gas liquids (NGLs), water, chemicals, and other liquid commodities. The transportation of crude oil and petroleum products, such as gasoline, diesel, jet fuel, and heating oil, is a significant component of the liquid pipeline market. Crude oil pipelines connect oil production areas, such as oil fields or offshore platforms, with refineries and terminals, enabling the efficient distribution of petroleum products to end-users.
Based on End user segment of the Pipeline Construction market size includes Oil and Gas, Chemical and Petrochemical, Water and Wastewater, Energy (Power and Utilities), Others. Oil and gas pipeline construction segment dominated the Pipeline Construction market in 2022. Crude oil pipelines transport unrefined crude oil from oil fields or offshore platforms to refineries. These pipelines can span hundreds or even thousands of miles, connecting production areas to refining centers. Natural gas pipelines transport natural gas from production fields to various end-users, including residential, commercial, and industrial consumers.
Pipelines are utilized to transport a wide range of chemicals, including petrochemicals, specialty chemicals, industrial gases, and liquid bulk commodities. These chemicals are crucial for manufacturing processes, such as plastics production, pharmaceuticals, fertilizers, and other chemical products. The chemical industry relies on an extensive network of pipelines to connect production sites, storage terminals, and distribution centers. This network allows for the transportation of chemicals across different regions, supporting the global supply chain and ensuring a consistent and timely supply of chemical products.
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Regional Analysis
The global Pipeline Construction market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Pipeline Construction market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Pipeline Construction market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Pipeline Construction market comprises of Middle East, Africa, and South America.
The Asia Pacific Pipeline Construction market held the highest market share in 2022. The Asia-Pacific region is witnessing significant growth in renewable energy sources, such as solar and wind power. The construction of transmission pipelines and infrastructure for renewable energy projects, including offshore wind farms, is necessary to connect renewable energy generation sites with consumption centers and power grids. Rapid urbanization and industrial growth in the Asia-Pacific region have led to increased energy consumption for power generation, transportation, manufacturing, and construction.
North America Pipeline Construction market is expected to grow at the fastest rate during the forecast period. North America has several cross-border pipelines that connect energy-producing regions in Canada and the United States. These pipelines transport oil, natural gas, and other energy products between the two countries, supporting energy cooperation and trade. Aging pipeline infrastructure in North America requires upgrades and replacement to ensure safety and operational efficiency. This has led to pipeline construction projects aimed at modernizing the existing infrastructure and improving its integrity.
The Europe Pipeline Construction market has been witnessing significant growth in recent years. Europe has witnessed significant investments in liquefied natural gas (LNG) infrastructure. LNG terminals and associated pipelines are being constructed to import LNG from global markets and distribute it across the continent. LNG infrastructure provides flexibility in gas supply and enhances Europe's energy security.
The South America Pipeline Construction market is expected to experience growth in the coming years. Pipelines play a crucial role in transporting crude oil from production areas to refineries, export terminals, and domestic markets. Countries like Brazil, Colombia, and Venezuela have extensive pipeline networks for oil transportation. South America has a growing petrochemical industry that requires pipeline infrastructure for the transportation of feedstocks and finished products.
The Middle East and Africa (MEA) Pipeline Construction market is a growing market. The Middle East has several cross-border pipelines that promote energy cooperation and trade among neighboring countries. These pipelines facilitate the import and export of energy resources, enhancing regional integration. Examples include the Arab Gas Pipeline (AGP) and the Arab Pipeline System. Africa has significant natural gas reserves, and there is a growing focus on monetizing these resources through pipeline infrastructure. Africa is experiencing a surge in renewable energy projects, such as solar and wind power.
Key Findings of the Study
- The global Pipeline Construction market is expected to reach USD 73.03 Billion by 2032, at a CAGR of 4.8% during the forecast period.
- The Asia-Pacific region accounted for the fastest-growing global market due to the companies starting to introduce pipeline construction services. Many countries in the Asia-Pacific region are investing in infrastructure development, including energy infrastructure.
- Based on pipe type, the metallic broadband segment was attributed to holding the largest market in 2022.
- Based on application, gas pipeline segment dominated the Pipeline Construction market in 2022.
- Metal Forge India, Prosaic Steel and Alloys, Bechtel Corporation, Cogbill Construction LLC, CCI Leidingsystemen B.V, Yena Engineering B.V., Enka Insaat Ve Sanayi, Larsen & Turbo Limited, Seonghwa Industrial Co Ltd, Sung Il Sim Co. Ltd. are key market players.
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Companies Covered | 15 |
Pages | 128 |
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