Pipeline Process Services Market Competitive Outlook
IPEC Ltd., IKM Ocean Design, Enermech, Halliburton, Hydratight, Blue Fin Group, Techfem SpA, Trans Asia Pipeline Specialty Services, Altus Intervention, Chenergy Services Limited, Tucker Energy Services, and BHGE are key companies of the global pipeline process services market. Majority of the players in the industry are signing agreements with utility major for provision of pipeline processes and services. For instance, BHGE signed a contract with Chevron Corporation for precomissioning services of gas turbines and subsea production systems for its Gorgon LNG Project Phase 1.
The global pipeline process services market size is projected to reach USD 4.3 billion by 2025. It is expected to expand at a CAGR of 4.51% over the forecast period.
Major drivers of the market are investments by oil gas manufacturers and consumption of natural gas. The expansion of the natural gas pipeline network and construction of various pipelines in the design and development phases can positively impact the market growth. In 2019, GAIL India Pvt. Ltd. had decided to spend close to USD 6.1 billion for expanding its national grid and pipeline structure. Furthermore, the high demand for petroleum products will favor the market greatly. Several deep water exploration projects for oil and gas can be opportune for the market.
The global pipeline process services market has been segmented based on asset type, operation, and end-user.
Based on asset type, the global market is segmented into pipeline and process. The pipeline segment is expected to hold the largest share of the market and is expected to be the fastest-growing segment during the forecast period as pipelines are pivotal and affordable modes of transportation for shipping of water, synthetic compounds, and others. The delay of major projects due to dip in oil prices had affected the segment. But the laying of pipelines in the APAC can provide the segment the necessary boost.
Based on operation, the global pipeline process services market growth is segmented into pre-commissioning commissioning, maintenance, and de-commissioning. The pre-commissioning commissioning segment is expected to hold the largest market share and grow with the highest CAGR during the forecast period.
Based on end-user, the global market has been segmented into power generation, chemicals refined products, water wastewater, oil gas, and others. The oil gas segment is expected to hold the largest market share and be the fastest-growing segment during the forecast period due to the transmission of crude oil and natural gas over long distances across states, countries, and continents.
Based on the region, the global pipeline process services market is segmented into Asia Pacific (APAC), North America, Europe, the Middle East Africa (MEA), and South America. North America holds the largest pipeline process services market share due to the transportation of the produced crude and natural gas from remote locations to the region. The demand for energy and undertaking of deep water exploration projects in remote areas can drive the regional market demand over the forecast period.
Browse Complete Report @ https://www.marketresearchfuture.com/reports/pipeline-process-services-market-9016
Wireline Logging Services Market Research Report - Global Forecast 2027
Reservoir Analysis Market Research Report - Global Forecast till 2027
Underbalanced Drilling Market Research Report - Global Forecast till 2027
Progressive Cavity Pump Market Research Report - Global Forecast till 2027
Pipeline Process Services Market Research Report - Global Forecast till 2027
Global Battery Market Research Report - Forecast to 2027
Dual Carbon Battery Market Research Report - Global Forecast till 2027
Micro Battery Market Research Report - Global Forecast till 2027
Lithium Iron Phosphate Batteries Market Research Report - Global Forecast till 2027
Offshore Drilling Rigs Market Research Report - Forecast to 2027
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research Consulting Edibles.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans conducts meet with the industry experts and industrial visits for its research analyst members.
Market Research Future
528, Amanora Chambers, Magarpatta Road, Hadapsar
Pune – 411028, Maharashtra, India
Email: [email protected]