Press release
Natural Gas Pipeline Transport Market Outlook 2024: Exclusive Report By The Business Research Company | ABB Ltd., General Electric Company, Saipem SpA, Technip Energies NV, Enterprise Products Partners LP
Natural Gas Pipeline Transport Market Characteristics
The Business Research Company offers in-depth market insights through Natural Gas Pipeline Transport Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The natural gas pipeline transport market size has grown strongly in recent years. It will grow from $17.44 billion in 2023 to $18.47 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to energy demand and consumption, environmental considerations and clean energy transition, economic growth and industrial expansion, government policies and energy security, global trade and interconnected gas markets..
The natural gas pipeline transport market size is expected to see strong growth in the next few years. It will grow to $22.86 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to renewable energy integration and gas-to-power, transition to low-carbon energy systems, infrastructure investments and energy access, emerging market demand for natural gas, climate change mitigation and emission reduction goals.. Major trends in the forecast period include integration of renewable gas, modernization of aging pipeline infrastructure, regulatory support for pipeline development, shift towards long-distance and cross-border pipelines, integration of cybersecurity measures..
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Market Segmentation:
The natural gas pipeline transport market covered in this report is segmented -
1) By Type: Gathering Pipeline, Transportation Pipeline, Distribution Pipeline
2) By Pipeline Component: Transmission Pipes, Compressor Stations, Metering Stations, Valves
3) By Application: Onshore, Offshore
Major Driver - Rising Consumption Of Natural Gas To Drive Market Growth
The increased consumption of natural gas is expected to boost the growth of the natural gas pipeline transport market going forward. Natural gas refers to a type of fossil fuel created from plant and animal remains. Gas is transported by natural gas pipelines to markets, frequently across provincial or international borders to meet the demand, hence, increased consumption of natural gas is expected to boost the natural gas pipeline transport market. For instance, in January 2023, according to a report published by the Energy Information Administration, a US-based statistical agency of the Department of Energy, natural gas usage in the United States peaked at a daily record high of 141.0 billion cubic feet (Bcf) in 2023. Additionally, the consumption of natural gas in the electric power sector increased by 45% in December 2022. Therefore, the increased consumption of natural gas is driving the growth of the natural gas pipeline transport market.
Competitive Landscape:
Major companies operating in the natural gas pipeline transport market report are ABB Ltd., General Electric Company, Saipem SpA, Technip Energies NV, Enterprise Products Partners LP, Kinder Morgan Inc., Chevron Corporation, PetroChina Company Limited, China Petroleum & Chemical Corporation, Transneft PJSC, Enbridge Inc., Oneok Inc., Berkshire Hathaway Energy, Energy Transfer LP, Pembina Pipeline Corporation, Williams Companies Inc., Dominion Energy Inc., TC Energy Corporation, Cheniere Energy Inc., Sempra Energy, National Grid plc, TransAlta Corporation, Antero Midstream Corporation, Crestwood Equity Partners LP, DCP Midstream LP, Targa Resources Corp., Boardwalk Pipeline Partners LP, MPLX LP, Magellan Midstream Partners LP, Plains All American Pipeline LP, NuStar Energy LP, Holly Energy Partners LP, Shell Midstream Partners LP, Valero Energy Partners LP, EnLink Midstream Partners LP, Genesis Energy LP, Blueknight Energy Partners LP, Summit Midstream Partners LP, NGL Energy Partners LP .
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Top Trend - Technological Advancements Driving Innovation In Natural Gas Pipeline Transport Market
Technological advancements are a key trend gaining popularity in the natural gas pipeline transport market. Major companies operating in the natural gas pipeline transport market are focusing on developing new technologies to sustain their position in the market. For instance, in December 2022, ABB Ltd, a Switzerland-based provider of digital technologies, launched Sensi+, an analyzer to streamline and lower the price of pipeline operation and maintenance. It allows for safer, simpler, and more effective pipeline monitoring and operations due to a single device that can precisely and instantly assess up to three pollutants (H2S, H2O, and CO2) in any natural gas stream. The Sensi+ analyzer contains AnalyzerExpert features from ABB, which enable professionals to take actions and gain insights right from the instrument. Built-in self-diagnostics, automated laser line-locking, in-the-moment cross-interference compensation, and health monitoring are among the capabilities.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Natural Gas Pipeline Transport Market Characteristics
3. Natural Gas Pipeline Transport Market Trends And Strategies
4. Natural Gas Pipeline Transport Market - Macro Economic Scenario
5. Natural Gas Pipeline Transport Market Size And Growth
…..
27. Natural Gas Pipeline Transport Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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