Press release
Pipeline Construction Market on Track for Strong Growth, Estimated to Grow at 6% CAGR Through 2029
Pipeline Construction Market
What Is the Expected CAGR for the Pipeline Construction Market Through 2025?
The market size of pipeline construction has seen a consistent increase over the past few years. It is anticipated to expand from $49.97 billion in 2024 to $52.35 billion in 2025, exhibiting a Compound Annual Growth Rate (CAGR) of 4.8%. The ascend during the historic period can be credited to the development and production of oil and gas resources, a surge in the demand for safe, cost-effective, and dependable infrastructure connections for the transportation of oil and gas, along with heightened investments in pipeline projects.
What's the Projected Size of the Global Pipeline Construction Market by 2029?
In the upcoming years, the pipeline construction market is anticipated to witness robust expansion. It is projected to escalate to a value of $66.09 billion by 2029, registering a compound annual growth rate (CAGR) of 6.0%. Several factors contributing to this growth during the forecast period include climate change initiatives, public attitudes and opposition, geopolitical stability, resource exploration, and energy transition policies. Key trends expected during this period are advancements in technology, the expansion of the oil and gas industry, emphasis on research and development, and the implementation of automation and robotics.
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Top Growth Drivers in the Pipeline Construction Industry: What's Accelerating the Market?
The escalation in energy usage is fuelling the pipeline construction market. The requirement for energy is growing due to increasing prosperity, urban development, and enhanced electricity access. Energy production sectors utilize pipelines for the transit of energy resources like natural gas, propane, and gasoline. For instance, the Energy Institute LLC, a chartered professional membership organization based in the UK, reported in June 2024 that in 2023, energy consumption constituted 56% of the total. This was a double-fold growth at the global average pace of 2%. Consequently, the upsurge in energy consumption is poised to stimulate the pipeline construction market.
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What Trends Will Shape the Pipeline Construction Market Through 2029 and Beyond?
The pipeline construction market has seen a surge in product innovations, making it the prominent trend. To solidify their market position, several key players are concentrating on devising unique solutions. Take for example, the CYENS Centre of Excellence in Cyprus, which unveiled the beta version of its advanced imaging/video pipeline-interface mechanism, DgiStreamer, in November 2022. This inventive GUI (graphical user interface) software serves as a comprehensive standalone pipeline builder, that's user-friendly with GStreamer and Deepstream. With a simplistic drag-and-drop feature for linking assorted pipeline-building components, this tool simplifies the process of pipeline construction. The tool outperforms the existing alternatives in terms of speed and ease of use, and also supports scaling to complex configurations.
What Are the Main Segments in the Pipeline Construction Market?
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
Subsegments:
1) By Metallic: Steel Pipes, Copper Pipes, Aluminum Pipes, Other Metallic Pipes
2) By Non-Metallic: PVC Pipes, HDPE Pipes, FRP Pipes, Other Non-Metallic Pipes
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Which Top Companies are Driving Growth in the Pipeline Construction Market?
Major companies operating in the pipeline construction market include 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 Insaat ve Sanayi A.S., Ledcor Group, Mott Macdonald Group Ltd., 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
Which Regions Will Dominate the Pipeline Construction Market Through 2029?
North America was the largest region in the pipeline construction market share in 2024. The regions covered in the pipeline construction market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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