Press release
Pipeline Construction Market Soars to $62.89B by 2028 with 5.7% CAGR Driven by Energy Demand Surge
Pipeline Construction Market Report
Pipeline Construction Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $62.89 billion In 2028 At A CAGR Of 5.7%:
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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Pipeline Construction Market Major Segments
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
Key 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.
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Prominent Trend - Revolutionizing Pipeline Construction With Innovative Imaging Interface
Product innovations have emerged as the key trend gaining popularity in the pipeline construction market. Major companies operating in the pipeline construction market are focused on innovating novel solutions to strengthen their position in the market. For instance, in November 2022, the CYENS Centre of Excellence, a Cyprus-based research and innovation center, launched the beta version of its innovative imaging/video pipeline-interface tool, DgiStreamer. It is an innovative GUI (graphical user interface) software that is an all-encompassing standalone pipeline builder compatible with GStreamer and Deepstream. The application provides a simple drag-and-drop method for connecting the different pipeline-building elements, making pipeline construction chores easier to complete. Compared to currently available alternatives, the tool is faster and easier to use and supports scaling to complicated configuration types.
Pipeline Construction Market Players
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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Largest And Fastest Growing Region In The Market
North America was the largest region in the pipeline construction market share in 2023. The regions covered in the pipeline construction market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Pipeline Construction Market Report Structure
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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