Press release
Strong Growth Ahead: Crude Oil Pipeline Transport Market Size To Grow At Arecord 7.3% Cagr By 2029
Crude Oil Pipeline Transport
How Big Is the Crude Oil Pipeline Transport Market Size Expected to Be by 2034?
The market size of crude oil pipeline transport has seen robust expansion in the last few years. The market is projected to increase from $75.39 billion in 2024 to $81.14 billion in 2025, with a compound annual growth rate (CAGR) of 7.6%. Contributing factors to the growth during the historical period include growing worldwide energy requirements and consumption, geopolitics and oil supply chain elements, economic development and industrialisation, constant and reliable transport expenses, and strategic initiatives for energy security.
Predictions suggest robust expansion in the size of the crude oil pipeline transport market in the upcoming years, bolstering its worth to $107.39 billion in 2029, with a compound annual growth rate (CAGR) of 7.3%. Factors noted as drivers for this upward trend during the forecast period include the persistent increase in global energy consumption, the broadening of oil exploration and production, changes in worldwide oil trade norms, ecological and regulatory aspects, and investments directed towards pipeline infrastructure projects. Noteworthy tendencies within the projected period are government rules and adherence to them, distant monitoring and control systems, protection protocols for pipelines, advancements in leak detection technology, and alliances within the sector.
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What Are the Emerging Segments Within the Crude Oil Pipeline Transport Market?
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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What Long-Term Drivers Are Shaping Crude Oil Pipeline Transport Market Trends?
An increase in oil and gas demand is projected to be a major growth catalyst for the crude oil pipeline transport market. Oil and gas, in their liquid and gaseous forms, are fossil fuels that find application in numerous industries such as transportation, insulation, plastic, clothing, furniture, food, and automation. Pipeline transportation, given its safety and cost-effectiveness, is a popular method for transporting crude oil and gases from oil wells to tankers. For example, the US Energy Information Administration noted in March 2023 that US crude oil production had risen to 12.4 million b/d in 2023 from a record 11.7 million b/d in 2022. Also, in September 2022, an average of 86.6 billion cubic feet of natural gas per day (Bcf/d) was consumed in the US, marking the highest annual natural gas consumption compared to the prior year. Consequently, an increased need for oil and gas is predicted to stimulate the growth of the crude oil pipeline transportation market.
Who Are the Top Competitors in Key Crude Oil Pipeline Transport Market Segments?
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.
What Crude Oil Pipeline Transport Market Trends Are Gaining Traction Across Different Segments?
Leading corporations in the crude oil pipeline transport industry are employing progressive technologies like the industrial internet of things (IIoT) to elevate operational efficacy, bolster safety measures, and streamline supply chain management. IIoT aids in the constant surveillance of machinery, pipelines, and cargo, paving the way for preventative maintenance, diminished downtime, and heightened automation in crude oil logistics. In August 2024, Henkel, a German industrial solutions organization, unveiled two sophisticated monitoring solutions, namely Smart Rotating Equipment Monitoring and Smart Pipes and Tanks Leak Detection, primarily aimed at boosting safety and efficiency in industrial operations within the oil and gas sector. Their Smart Pipe and Tank system, specifically developed for detecting hydrocarbon leaks at an early stage, is an advanced retrofit monitoring solution which addresses the substantial environmental threats occurring from pipeline and tank leaks that could result in water pollution and fire hazards. The Smart Rotating Equipment Monitoring comes with a 6-in-1 plug-and-play sensor capable of concurrently monitoring six crucial data parameters, including vibration, magnetic flux, and acoustic emissions, thereby refining the monitoring process, and ensuring enhanced performance and accuracy for essential equipment like pumps, motors, and gearboxes.
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Which Regions Are Becoming Hubs for Crude Oil Pipeline Transport Market Innovation?
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
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Crude Oil Pipeline Transport Market?
2. What is the CAGR expected in the Crude Oil Pipeline Transport Market?
3. What Are the Key Innovations Transforming the Crude Oil Pipeline Transport Industry?
4. Which Region Is Leading the Crude Oil Pipeline Transport Market?
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