Press release
Crude Oil Pipeline Transport Market Expansion Continues, with Forecast Valuation of $107.39 Billion by 2029
Crude Oil Pipeline Transport
Crude Oil Pipeline Transport Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
Over the past few years, there has been a robust growth in the market size of the crude oil pipeline transport. Expected to increase from $75.39 billion in 2024 to $81.14 billion in 2025, the market will witness a compound annual growth rate (CAGR) of 7.6%. Factors contributing to this historical progress include the global requirement and consumption of energy, geopolitical elements influencing oil supply chains, economic development and industrialization as well as stable and predictable transportation costs, along with strategic initiatives regarding energy security.
Crude Oil Pipeline Transport Market Size Forecast: What's the Projected Valuation by 2029?
Forecasted robust expansion is expected over the coming years in the crude oil pipeline transport market, with predictions suggesting a growth to $107.39 billion in 2029 with a compound annual growth rate (CAGR) of 7.3%. Factors contributing to this growth throughout the forecast period include a growing global energy demand, increased oil exploration and sweeping production, shifting international oil trade dynamics, environmental and regulatory factors, and investments in pipeline infrastructure projects. Key trends for the forecast period include adherence to government regulations, the application of remote monitoring and control systems, enhanced pipeline security measures, technological advancements in leak detection, and strategic industry collaborations and partnerships.
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What Are the Drivers Transforming the Crude Oil Pipeline Transport Market?
The demand for oil and gas is anticipated to boost the expansion of the crude oil pipeline transport market in the future. These fossil fuels, in their respective liquid and gaseous states, are utilized across various sectors such as transportation, insulation, plastic, clothing, furniture, food, and automation. Pipeline transportation, due to its safety features and low maintenance expenses, is regarded as one of the most popular methods of transporting crude oil and gases from nearby or distant oil wells to oil tankers. For example, the US Energy Information Administration reported in March 2023 that the U.S. crude oil output increased to 12.4 million b/d in 2023 from an all-time high of 11.7 million b/d in 2022. In addition, in September 2022, the US consumed an average of 86.6 billion cubic feet of natural gas per day (Bcf/d) in 2022, marking the highest annual consumption of natural gas in the U.S. in comparison to the preceding year. Therefore, the rising demand for oil and gas is expected to drive the growth of the crude oil pipeline transportation market.
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What Long-Term Trends Will Define the Future of the Crude Oil Pipeline Transport Market?
Leading corporations in the crude oil pipeline transport market are adopting advanced technologies like the industrial internet of things (IIoT) to boost operational effectiveness, enhance safety measures, and streamline supply chain management. IIoT solutions facilitate real-time tracking of machinery, pipelines, and cargo, resulting in predictive maintenance, minimized downtime, and amplified automation in crude oil logistics. In August 2024, German industrial solutions provider Henkel introduced Smart Rotating Equipment Monitoring and Smart Pipes and Tanks Leak Detection, two advanced monitoring solutions devised to heighten safety and efficacy in industrial operations, particularly in the oil and gas industry. Smart Pipe and Tank system aims at early detection of hydrocarbon leaks. This sophisticated monitoring solution effectively tackles serious environmental issues associated with leaks from pipelines and tanks, including water pollution and potential fire risks. Smart Rotating Equipment Monitoring includes a 6-in-1 plug-and-play sensor that facilitates simultaneous observation of six crucial data parameters such as vibration, magnetic flux, and acoustic emissions, simplifying the monitoring process and ensuring better performance and accuracy for essential equipment like pumps, motors, and gearboxes.
Which Segments in the Crude Oil Pipeline Transport Market Offer the Most Profit Potential?
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 Firms Dominate the Crude Oil Pipeline Transport Market by Market Share and Revenue in 2025?
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.
Which Regions Offer the Highest Growth Potential in 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
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