Global Oil and Gas Pipeline Market Heading with Updated Regulations for Oil and Natural Gas supply; Asserts MRFR Releasing the Forecast for 2021 - 2026

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The oil and gas pipeline market is rising profusely. This growth attributes to the rapidly growing oil and gas industry witnessing an automation revolution. Besides, increasing investments and integration of advanced technologies in O&G offshore and onshore drilling activities substantiate the market size.

Substantial investments in developing techniques that can detect, characterize, and verify pipeline defects in different lifecycle stages of oil and gas assets drive the market. In its recent market report, Market Research Future (MRFR) asserts that the global oil and gas pipeline market is poised to garner exponential traction by 2026, growing at an impressive CAGR throughout the forecast period (2021-2026).

Additionally, rising environmental concerns, efforts to improve pipelines & energy infrastructure safety, and significant investments in pipeline businesses are key growth drivers for the market. Most oil and gas companies are advancing plans to develop hydrogen pipelines for O&G, wind, which act as key tailwinds for the growth of the market.

Furthermore, stringent government regulations for improved pipeline assessment and focus on remote management, process optimization, and automation of O&G pipelines foster market growth. Oilfield companies invest considerably in technology upgrades act as significant tailwinds for the market growth.

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Global O&G Pipeline Market   - Segmentation

The O&G pipeline market forecast is segmented into types, applications, sectors, and regions. The type segment is sub-segmented into crude oil and natural gas. The application segment is sub-segmented into offshore and onshore. Of these, the offshore segment accounts for the largest share, witnessing developments in offshore oilfields. The sector segment is sub-segmented into upstream, midstream, and downstream. The region segment is sub-segmented into Americas, Europe, Asia Pacific, and the rest-of-the-world.

Global Oil and Gas Pipeline Market   - Regional Analysis

North America leads the global oil and gas pipeline market. The region accounts for the largest producers and consumers of oil & gas, hosting the increasing numbers of O&G pipelines than other regions. Besides, the largest market share attributes to high usages of natural gas and increased investments.

The rise in renewable energy installations reported by International Renewable Energy Agency (IRENA) contributes to the regional market growth. Moreover, increased government regulations for pipeline assessment and increased focus on remote management of O&G pipelines for process optimization and automation drive the regional market growth. 

The oil and gas pipeline market in Europe stands second globally. Market growth is fostered by the strong presence of notable players integrating robotics in OnG oilfields. Moreover, increasing drilling activities increase the uptake of pipelines in the oilfields. Additionally, the increasing demand for fossil fuels in the region substantiates market growth.

The Asia Pacific oil and gas pipeline market is growing rapidly. Factors such as the burgeoning O&G sector and R&D increasing investments due to rapid economic growth substantiate the market growth in the region. Rapidly developing APAC countries, such as India and China, account for sizable shares in the regional market heading with the improving drilling technologies and robotics in oilfields.

Global Oil and Gas Pipeline Market   - Competitive Analysis

Highly competitive, the O&G pipeline market appears fragmented, with several well-established players forming a competitive landscape. Mergers & acquisitions, expansion, collaboration, and product/ technology launch are key strategic initiatives of these players to gain a larger competitive advantage. They also focus on product development and geographical expansion. 

Major Players: 

Players leading the global oil and gas pipeline market include China National Petroleum Corporation, Gazprom, Chevron Corporation, Tenaris S.A., ConocoPhillips, TMK, National Oilwell Varco, General Electric, Maharashtra Seamless Ltd, Saipem S.p.A, TechnipFMC, Subsea 7 S.A, EVRAZ North America, Chelpipe, Welspun Corp Ltd., Europipe, Royal Dutch Shell p.l.c., and Eni S.p.A.

Industry/ Innovation/ Related News

May 17, 2021 ----- The Oman government announced plans to extend its gas pipeline network to Iran and Yemen. Oman would like to revive plans to import Iranian gas via pipeline and consider extending its pipeline network to Yemen. There are many opportunities to make good use of that project from Oman's point of view. 

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Market Research Future® (Part of WantStats Research and Media Pvt. Ltd.) has specialized research analysts in the areas of Aerospace & Defense, Automotive, C&M, Energy & Power, F&B, Healthcare & Pharmaceutical, ICT, Industrial Equipment, Packaging Construction & Mining and Semiconductor.

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