Press release
2025 Pipeline And Process Services Industry Trends Report: Long-Term Outlook Through 2034
Pipeline And Process Services
How Large Will the Pipeline And Process Services Market Size By 2025?
The market size for pipeline and process services has seen substantial growth over the past few years. It is projected to increase from $3.95 billion in 2024 to $4.17 billion in 2025. This growth, which represents a compound annual growth rate (CAGR) of 5.8%, is primarily due to factors such as infrastructure rehabilitation, the global energy trade, changes in energy sources, economic elements and infrastructure expansion.
How Big Is the Pipeline And Process Services Market Size Expected to Grow by 2029?
Significant expansion is expected in the pipeline and process services market in the coming years. With a compound annual growth rate (CAGR) of 7.5%, the market value is anticipated to reach $5.58 billion by 2029. This predicted increase can be linked to elements such as efficiency enhancement, reducing costs, development of water infrastructure services and geopolitical influencers. Rising global energy needs and smart infrastructure development also contribute significantly. As we move towards the forecast period, we can expect the major trends to include energy transition, maintenance and integrity improvement, increased automation and digitalization, projects focusing on pipeline expansion, and environmental regulations as well.
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Which Key Market Drivers Powering Pipeline And Process Services Market Expansion and Growth?
The surge in oil and natural gas needs is predicted to drive the expansion of pipeline and process services industry. Oil and natural gas, which are energy derivatives of fossil fuels that stem from the subterranean decomposition of ancient organisms spanning many millions of years, require pipeline and process services for the maintenance of piping systems throughout the lifespan of an oil and gas pipeline. This ensures the uninterrupted distribution of crucial fuels. For example, the India Brand Equity Foundation (IBEF), a government export promotion agency based in India, predicted in September 2024 that India's oil demand will double, hitting 11 million barrels per day by 2045. Hence, the escalating demand for oil and natural gas is fuelling the growth of the pipeline and process services sector.
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Which Fast-Growing Trends Are Poised to Disrupt the Pipeline And Process Services Market?
Leading corporations within the pipeline and process services market are creating novel technologies, like pipeline examination instruments, to maintain their standing in the market. A pipeline examination device is a specific system or instrument leveraged to check the quality and status of pipelines, making sure they run safely and effectively. For instance, The Dacon Pipeline Services, a company based in Thailand that provides inspections for pipelines made from plastic and concrete, introduced a multi-channel ultrasonic pipeline examination tool in September 2022. This tool navigates a pipeline, consistently capturing measurements at extremely short intervals to collect data and produce a detailed image of the pipeline's status. Following this, the software processes the data, resulting in a clear and precise depiction of the pipeline.
What Are the Emerging Segments in the Pipeline And Process Services Market?
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
Subsegments:
1) By Pre-Commissioning And Commissioning: Pipeline Testing And Inspection, Flushing And Cleaning Services, Hydrostatic Testing, Commissioning Support Services
2) By Maintenance: Routine Inspection And Monitoring, Pipeline Repairs And Rehabilitation, Corrosion Management, Leak Detection Services
3) By Decommissioning: Pipeline Abandonment Services, Environmental Assessment And Remediation, Dismantling And Removal Services, Waste Management Services
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Who Are the Global Leaders in the Pipeline And Process Services Market?
Major companies operating in the pipeline and process services market 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
Which are the Top Profitable Regional Markets for the Pipeline And Process Services Industry?
North America was the largest region in the pipeline and process services market share in 2024. The regions covered in the pipeline and process services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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