Press release
Pipeline Construction Market Size, Trends, Growth, Outlook 2024-2033
Pipeline Construction Market
The Business Research Company offers in-depth market insights through Pipeline Construction 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 pipeline construction market size has grown strongly in recent years. It will grow from $47.68 billion in 2023 to $50.39 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to development and production of oil and gas resources, surging demand for safe, economical, and reliable infrastructure connectivity to transport oil and gas, increased investments in pipeline projects.
The pipeline construction market size is expected to see strong growth in the next few years. It will grow to $62.89 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to climate change initiatives, public perception and opposition, geopolitical stability, resource exploration, energy transition policies. Major trends in the forecast period include technological advancements, expansion of the oil and gas industry, focus on research and development, automation and robotics.
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Market Segmentation:
The pipeline construction market covered in this report is segmented -
1) By Pipe Type: Metallic, Non-Metallic
2) By Equipment: Valves, Pipeline, Metering Skids, Compressor stations
3) By Operation: Transmission, Distribution
4) By Application: Liquid Pipeline, Gas Pipeline
5) By End User: Oil and Gas, Chemical, Water and Wastewater, Energy, Other End Users
Major Driver - The Surge In Energy Consumption Fuels Momentum In The Pipeline Construction Market
The surge in energy consumption is driving the pipeline construction market. Energy demand is rising due to rising affluence, urbanization, and improved access to electricity. The energy-producing industries use pipelines to transport energy supplies like natural gas, propane and gasoline. For instance, according to the World Energy Investment Report published by the International Energy Agency (IEA), a France-based international forum for sustainable energy, 4.6% more energy was consumed globally in 2021. Moreover, the global energy investment reached $1.9 trillion annually. As a result, the rise in energy consumption will propel the pipeline construction market.
Competitive Landscape:
Major companies operating in the pipeline construction market report are Energy Transfer LP, Nippon Steel Corporation, Enterprise Products Partners L.P., Enbridge lnc., Larsen & Toubro Ltd., Kinder Morgan Inc., Joint Stock Company Transneft, Tenaris S.A, Pembina Pipeline Corporation, TechnipFMC plc, TMK Group, Primoris Services Corporation, Enka İnşaat ve Sanayi A.Ş., Ledcor Group, Mott Macdonald Group Ltd., Forterra Inc., McDermott International Inc., Bonatti S.p.A., Spiecapag, CRC-Evans Pipeline International Inc., Prosaic Steel & Alloys, Gateway Pipeline LLC, Pumpco Inc., Cogbill Construction LLC, Sung IL Sim Co Ltd., Cecon Group, Barnard Construction Company Inc., Metal Forge India, CCI Leidingsystemen B.V., Yena Engineering B.V., Seonghwa Industrial Co Ltd., ChelPipe Group, Shengli Oil & Gas Pipe Holdings Limited, Sunland Construction Inc., Bechtel Corporation, Snelson Companies Inc., TC Energy Corporation
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Top Trend - Development Of Cross-Border Hydrogen Pipeline
Major companies operating in the pipeline construction market are focused on completing advance pipeline projects to provide a competitive edge in the market. The development of cross-border hydrogen pipelines involves the construction of infrastructure to facilitate the transmission of hydrogen between different countries. For instance, in November 2022, Techfem S.p.A., an Italy-based engineering company operating in the energy sectors, announced that it has been working on cross-border hydrogen pipeline development. It provided a number of design packages as well as pre-project advisory services for long-distance high-pressure pure hydrogen transmission networks.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Pipeline Construction Market Characteristics
3. Pipeline Construction Market Trends And Strategies
4. Pipeline Construction Market - Macro Economic Scenario
5. Pipeline Construction Market Size And Growth
…..
27. Pipeline Construction 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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