Sep 5 Oct, 2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Pipeline & Process Services Market.
It was estimated prior to this unanticipated outbreak that the Pipeline & Process Services Market was expected to grow at a CAGR of 4.3% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
For a more detailed breakdown of the COVID-19 impact on the Pipeline & Process Services Market, request a free sample of the report here:
Pipeline & Process Services provide a wide range of pre-commissioning & commissioning, maintenance and decommissioning services to the pipeline and process plants construction, commissioning and maintenance industries, both offshore and onshore.
Pipeline & Process Services provide operators the capability to initiate, sustain and increase production by increasing the production and transportation capacity of infield hydrocarbon flowlines, process plant and export pipelines.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Based on the asset type, the market is segmented as pipeline and process. The pipeline segment is projected to account for the larger market share during the forecast period. Owing to the oil price decline, there were many pipeline projects which were delayed during the recent past. However, on account of the price rise since early 2018, the delayed projects are now getting commissioned in the coming years. Around 250,000 kms of pipelines are estimated to be added globally during the forecast period and the Asia-Pacific region is likely to depict the highest pipeline km additions in the coming five years.
Based on the operation type, the market is segmented as pre-commissioning & commissioning, maintenance, and decommissioning. The pre-commissioning & commissioning segment held the largest share of the pipeline & process services market in 2019. Increasing volume of gas processing & gas storage pre-commissioning activities in the Middle East & North Africa and refinery capacity pre-commissioning in the Asia Pacific regions are expected to boost the global pre-commissioning & commissioning segment during the forecast period. Pipeline pre-commissioning & commissioning is estimated to be around 65-70% of the overall pre-commissioning & commissioning pipeline and process service market, owing to the high volume of pipeline pre-commissioning in the North America region.
In terms of regions, North America is estimated to lead the pipeline & process services market during the forecast period. In the regions like the USA, 70% of the crude oils are shipped through pipelines. The growing demand for energy in North America shows the oil exploration activities, which are strengthening the market. In the current study, extraction techniques have opened ample oil & gas shale regions in extremely remote areas. The transportation of the manufactured crude & natural gas from these remote locations is expected to drive the overall pipeline market in the region.
Key players operating in the global Pipeline & Process Services market are-
- Altus Intervention
- Bluefin Group
- Chenergy Services
- Techfem Spa
- Trans Asia Pipelines
- Tucker Energy Services.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Pipeline & Process Services analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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