Press release
Pipeline And Process Services Market 2024-2033 : Industry Analysis, Size, Share, Growth And Forecast | Halliburton Company, Baker Hughes Company, EnerMech Ltd., IKM Gruppen AS, Altus Intervention, Ideh Pouyan Energy Co
Pipeline And Process Services Global Market Report
The Business Research Company presents an extensive market research report on the Pipeline And Process Services Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The pipeline and process services market size has grown strongly in recent years. It will grow from $3.78 billion in 2023 to $4.02 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to infrastructure rehabilitation, globalization of energy trade, shifts in energy sources, economic factors, infrastructure expansion..
The pipeline and process services market size is expected to see strong growth in the next few years. It will grow to $5.2 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to efficiency and cost reduction, water infrastructure services, geopolitical factors, increasing global energy demand, smart infrastructure development.. Major trends in the forecast period include energy transition,maintenance and integrity, automation and digitalization, pipeline expansion projects, environmental regulations..
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Key Market Players:
Major companies operating in the pipeline and process services market report are Halliburton Company, Baker Hughes Company, EnerMech Ltd., IKM Gruppen AS, Altus Intervention, Ideh Pouyan Energy Co, Trans Asia Pipeline Services, Techfem Spa, Enerpac Tool Group, STEP Energy Services, Chenergy Services Limited, CR Asia Group, Eunisell Limited, Alphaden Energy and Oilfield Limited, Cypress Pipeline & Process Services, Hydratight, Blue Fin Group, Tucker Energy Services, IPEC Ltd., Barnard Construction Company Inc., Sunland Construction Inc., Snelson Companies Inc., STATS Group, Intertek Group plc, Oil States Industries Inc., T.D. Williamson, MISTRAS Group Inc., Shawcor Ltd., Schlumberger Limited, Weatherford International
Market Drivers:
The increasing demand for oil and natural gas is expected to propel the pipeline and process services market growth. Oil and natural gas are energy resources derived from fossil fuels formed from the underground decomposition of prehistoric organisms for several to tens of millions of years. The pipeline and processes services are essential for the upkeep of pipes during the life cycle of an oil and gas pipeline so that transportation of the essential fuels can continue without any hindrance. For instance, according to India Brand Equity Foundation (IBEF), an India-based government export promotion agency, in India, the oil demand is expected to register double growth to reach 11 million barrels per day by 2045. Therefore, the increasing demand for oil and natural gas is driving the pipeline and process services market growth.
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https://www.thebusinessresearchcompany.com/report/pipeline-and-process-services-global-market-report
The pipeline and process services market covered in this report is segmented -
1) By Operation: Pre-Commissioning And Commissioning, Maintenance, Decommissioning
2) By Asset Type: Pipeline, Process
3) By Raw Material: Plastic, Carbon Steel, Steel
4) By End-Users: Oil And Gas Industry, Chemical Industry, Water Treatment Industry, Construction And Manufacturing Industry, Other By End-Users
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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