Press release
Global Crude Oil Pipeline Transport Market Projected to Surpass $107.39 Billion by 2029 with 7% Annual Growth
Crude Oil Pipeline Transport Market Size
The escalated need for oil and gas is projected to accelerate the progression of the crude oil pipeline transport market. Liquid and gaseous forms of fossil fuels, namely oil and gas, find their application in several industries like transport, insulation, plastic, apparel, furniture, food, and automation. Pipeline transport is widely chosen for its safety and economical maintenance cost, making it the preferred mode for carrying crude oil and gases from close or distant oil wells to oil tankers. For example, the US Energy Information Administration - a US-based federal authority for collecting, preparing, and distributing energy statistics - reported in March 2023 that the U.S. crude oil production had risen to 12.4 million b/d in 2023, an increase from the previous highest record of 11.7 million b/d in 2022. Moreover, in September 2022, US recorded its highest annual consumption of natural gas with an average of 86.6 billion cubic feet per day (Bcf/d) in 2022 - a significant rise compared to previous year. Consequently, this heightened need for oil and gas is expected to boost the crude oil pipeline transport market.
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What is the projected compound annual growth rate (CAGR) of the crude oil pipeline transport market from 2025 to 2034, and what factors influence it?
The market size of the crude oil pipeline transport sector has seen noteworthy expansion over the past few years. It is projected to increase from $75.39 billion in 2024 to $81.14 billion in 2025, reflecting a compound annual growth rate (CAGR) of 7.6%. The historical growth has been influenced by global energy demand and consumption, geopolitical factors, oil supply chains, economic growth, industrialization, steady and predictable transport costs, and strategic initiatives for energy security.
The market size of the crude oil pipeline transport industry is predicted to undergo significant expansion over the next few years, ballooning to $107.39 billion in 2029 at a compound annual growth rate (CAGR) of 7.3%. The anticipated growth within this period is due to several factors such as a steady increase in global energy demand, expansion in oil exploration and production, shifts in worldwide oil trade dynamics, environmental and regulatory factors, and investments in pipeline infrastructure projects. Key trends forecasted for this period include government regulation and compliance, the use of remote monitoring and control systems, heightened pipeline security measures, technological advancements in leak detection solutions, and industry-based collaboration and partnerships.
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How are the latest trends influencing the growth of the crude oil pipeline transport market?
Leading firms in the crude oil pipeline transport market are introducing cutting-edge technologies like industrial internet of things (IIoT) to boost operational functionality, augment safety measures, and fine-tune logistics management. These IIoT technologies facilitate real-time surveillance of hardware, pipelines, and cargo, promoting predictive upkeep, minimizing downtime, and enhancing automation in crude oil logistics. In August 2024, Henkel, an industrial solutions firm from Germany, introduced Smart Rotating Equipment Monitoring and Smart Pipes and Tanks Leak Detection. These revolutionary monitoring services are designed to augment safety and efficacy in industrial procedures, especially in the oil and gas industry. The Smart Pipe and Tank system is engineered for early hydrocarbon leak detection, addressing the substantial ecological hazards posed by pipeline and tank leakages, which can result in water pollution and fire risks. The Smart Rotating Equipment Monitoring includes a 6-in-1 ready-to-go sensor that simultaneously oversees six crucial data parameters like vibration, magnetic flux, and acoustic emissions. This feature simplifies the surveillance procedure, assuring heightened performance and accuracy for essential equipment like pumps, motors, and gearboxes.
What are the major segments of the crude oil pipeline transport market and their role in driving growth?
The crude oil pipeline transport market covered in this report is segmented -
1) By Pipeline Type: Gathering pipeline, Transmission pipeline, Distribution pipeline, Feeder pipeline
2) By Solutions: Security Solutions, Automation And Control, Integrity And Tracking Solution, Network Communication Solutions, Other Solutions
3) By Location Of Deployment: Onshore, Offshore
4) By Service: Consulting Services, Managed Services, Maintenance And Support
Subsegments:
1) By Gathering Pipeline: Onshore Gathering Pipelines, Offshore Gathering Pipelines
2) By Transmission Pipeline: Long-Distance Transmission Pipelines, High-Pressure Transmission Pipelines
3) By Distribution Pipeline: Urban Distribution Pipelines, Rural Distribution Pipelines
4) By Feeder Pipeline: Short-Distance Feeder Pipelines, Regional Feeder Pipelines
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Which regions are key players in the growth of the crude oil pipeline transport market?
North America was the largest region in the crude oil pipeline transport market in 2024. Asia-Pacific is expected to be the fastest-growing region in the crude oil pipeline transport market report during the forecast period. The regions covered in the crude oil pipeline transport market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the key firms paving the way for growth in the crude oil pipeline transport market?
Major companies operating in the crude oil pipeline transport market include ABB Ltd., Emerson Electric Co., TechnipFMC PLC, Schneider Electric SE, Environmental Systems Research Institute Inc. (ESRI), Rockwell Automation Inc., Siemens Energy AG, Trimble Inc., John Wood Group PLC, Tenaris S.A., TMK Group, ChelPipe Group, Huawei Technologies Co Ltd., Honeywell International Inc., TC Energy Corporation, Enbridge Inc., Kinder Morgan Inc., Magellan Midstream Partners LP, Phillips 66 Partners LP, Enterprise Products Partners LP, Marathon Petroleum Corp., Colonial Pipeline Co., Explorer Pipeline Co., Plains GP Holdings LP, Western Refining Logistics LP, Delek Logistics Partners LP, SemGroup Corp., Targa Resources Corp., Williams Cos. Inc., Dominion Energy Inc.
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What Is Covered In The Crude Oil Pipeline Transport Global Market Report?
• Market Size Forecast: Examine the crude oil pipeline transport market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the crude oil pipeline transport market for a structured understanding.
• Key Players Overview: Analyze major players in the crude oil pipeline transport market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the crude oil pipeline transport market.
• Segment Contributions: Evaluate how different segments drive overall growth in the crude oil pipeline transport market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the crude oil pipeline transport market.
• Industry Challenges: Identify potential risks and obstacles affecting the crude oil pipeline transport market.
• Competitive Landscape: Review strategic developments in the crude oil pipeline transport market, including expansions, agreements, and new product launches.
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