Global Pipeline and Process Services Market Report 2023: Increasing Demand for Oil and Natural Gas Fuels the Sector

Jul 03, 2023

DUBLIN, June 1, 2023 /PRNewswire/ -- The "Pipeline and Process Services Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.

This report provides strategists, marketers and senior management with the critical information they need to assess the market.The global pipeline and process services market is expected to grow from $3.60 billion in 2022 to $3.90 billion in 2023 at a compound annual growth rate (CAGR) of 8.43%. The pipeline and process services market is expected to reach $4.81 billion in 2027 at a CAGR of 5.36%.

Major players in the pipeline and process services market are Halliburton, 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, and Cypress Pipeline & Process Services.

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Pipeline and process services are pre-commissioning, commissioning and maintainance services during which the installed pipeline goes through several procedures to ascertain its full functionality. The pipeline and process services are used to maintain the pipeline in good condition while it is in operation and involve several tasks performed on pipelines. The main types of operations in pipeline and process services are pre-commissioning and commissioning, maintenance, and decommissioning. Pre-commissioning (PC) is a construction procedure that involves determining whether each system component can be functionally operated in order to determine whether the system is prepared for commissioning start-up. Pipeline commissioning or start-up is the process by which the pipeline is made 'live,' i.e., the product is added to the pipeline.

Pre-commissioning and commissioning is used to ensure that all pipeline construction was efficient and complies with the required safety standards. The asset types are pipeline and process. The various raw materials used are plastic, carbon steel, and steel. The various end-users are oil and gas industry, chemical industry, water treatment industry, construction and manufacturing industry, and others.Technological advancement is a key trend in the pipeline and process services market. Major companies operating in the market are developing innovative technologies such as, artificial intelligence, fast digital imaging, in-line robot inspections, magnetic flux leakage (MFL), and ultrasonic testing (UT) to sustain their position in the market.

For instance, in September 2022, The Dacon Pipeline Services, a Thailand-based company that offers inspection of plastics and concrete material pipelines, launched 3" multi-channel ultrasonic pipeline inspection tool. The device goes through a pipeline while continuously taking measurements at very brief intervals to gather information and turn it into a high-resolution picture of the pipeline. The software then processes the pipeline data to create a readable and precise representation of the pipeline.In August 2022, Pipeline Technique, a UK-based business specialising in welding, coating, and technological engineering for onshore and offshore infrastructure, acquired Stanley's oil and gas division for an undisclosed amount. Through this acquisition, Pipeline Technique sought to establish itself as a leader in welding, coating, and technical engineering as well as to grow its clientele in Brazil. Stanley oil and gas is a US-based that provides pipeline services and equipment.North America was the largest region in the pipeline and process services market in 2022. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The countries covered in the pipeline & process Services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The increasing demand for oil and natural gas is expected to propel the pipeline and process services market growth. Oil and natural gas are energy resources derived from fossil fuels formed from the underground decomposition of prehistoric organisms for several to tens of millions of years. The pipeline and processes services are essential for the upkeep of pipes during the life cycle of an oil and gas pipeline so that transportation of the essential fuels can continue without any hindrance.

For instance, according to India Brand Equity Foundation (IBEF), an India-based government export promotion agency, in India, the oil demand is expected to register double growth to reach 11 million barrels per day by 2045. Therefore, the increasing demand for oil and natural gas is driving the pipeline and process services market growth.The pipeline and process services market includes revenues earned by entities by flow remediation, nitrogen services, pipe freezing, bolting and tensioning and flange management, chemical cleaning, refinery and petrochemical facility management, FPS management, gas processing, and gas storage. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.Key Topics Covered: 1. Executive Summary2. Pipeline And Process Services Market Characteristics3. Pipeline And Process Services Market Trends And Strategies4. Pipeline And Process Services Market - Macro Economic Scenario4.1. COVID-19 Impact On Pipeline And Process Services Market4.2. Ukraine-Russia War Impact On Pipeline And Process Services Market4.3. Impact Of High Inflation On Pipeline And Process Services Market5. Pipeline And Process Services Market Size And Growth5.1. Global Pipeline And Process Services Historic Market, 2017-2022, $ Billion5.1.1. Drivers Of The Market5.1.2. Restraints On The Market5.2. Global Pipeline And Process Services Forecast Market, 2022-2027F, 2032F, $ Billion5.2.1. Drivers Of The Market5.2.2. Restraints On the Market6. Pipeline And Process Services Market Segmentation6.1. Global Pipeline And Process Services Market, Segmentation By Operation, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

Pre-Commissioning And Commissioning

Maintenance

Decommissioning

6.2. Global Pipeline And Process Services Market, Segmentation By Asset Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

Pipeline

Process

6.3. Global Pipeline And Process Services Market, Segmentation By Raw Material, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

Plastic

Carbon Steel

Steel

6.4. Global Pipeline And Process Services Market, Segmentation By End-Users, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

Oil And Gas Industry

Chemical Industry

Water Treatment Industry

Construction And Manufacturing Industry

Other End-Users

7. Pipeline And Process Services Market Regional And Country Analysis7.1. Global Pipeline And Process Services Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion7.2. Global Pipeline And Process Services Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

For more information about this report visit https://www.researchandmarkets.com/r/78ytpz

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