U.S. markets open in 7 hours 16 minutes
  • S&P Futures

    4,391.00
    -30.75 (-0.70%)
     
  • Dow Futures

    34,149.00
    -313.00 (-0.91%)
     
  • Nasdaq Futures

    15,248.75
    -77.25 (-0.50%)
     
  • Russell 2000 Futures

    2,205.70
    -22.60 (-1.01%)
     
  • Crude Oil

    71.52
    -0.45 (-0.63%)
     
  • Gold

    1,750.90
    -0.50 (-0.03%)
     
  • Silver

    22.38
    +0.04 (+0.19%)
     
  • EUR/USD

    1.1719
    -0.0012 (-0.11%)
     
  • 10-Yr Bond

    1.3700
    0.0000 (0.00%)
     
  • Vix

    20.81
    +2.12 (+11.34%)
     
  • GBP/USD

    1.3702
    -0.0035 (-0.26%)
     
  • USD/JPY

    109.8550
    -0.0400 (-0.04%)
     
  • BTC-USD

    45,706.96
    -2,353.64 (-4.90%)
     
  • CMC Crypto 200

    1,142.01
    -83.52 (-6.81%)
     
  • FTSE 100

    6,963.64
    -63.84 (-0.91%)
     
  • Nikkei 225

    30,500.05
    +176.75 (+0.58%)
     

Pipeline & Process Services Market Worth USD 4.90 Billion at 5.4% by 2028 Backed by Presence of a Large Number of Oil & Gas Fields in North America

·8 min read

List of the Companies Profiled in the Market: Baker Hughes, Atlus Intervention, CR Asia Group, Eunisell Limited, Alphaden Energy & Oilfield Limited,Cypress Pipeline & Process Services, Halliburton, Chenergy Services Limited, Techfem, EnerMech, BGS Energy Services, Hydratight, PEC, Pipeline & Process Services, IKM Group

Pune, India, July 07, 2021 (GLOBE NEWSWIRE) -- The global pipeline & process services market size is expected to gain momentum by reaching USD 4.90 billion by 2028. Fortune Business Insights, in its report titled “Pipeline & Process Services Market, 2021-2028.”, mentions that the market stood at USD 3.30 billion in 2020 and is likely to exhibit a CAGR of 5.4% between 2021 and 2028. This is attributable to the rising oil & gas trade activities and the presence of stringent regulations regarding oil & gas pipelines globally. In May 2021, Saudi Arabia reported a 428% surge in overall factory investments. It is termed to be a 27.92% year-on-year growth. The country aims to develop several industries such as petrochemicals, oil & gas, chemicals, mining, and others.

Stalled Operations amid COVID-19; Market Exhibited -2.9% Growth Rate in 2020

The complete halt in operational activities and significant disruption in the supply chain heavily impacted the oil & gas sector. Owing to reduced demand and low availability of workforce, the industry came to a standstill and exhibited a growth rate of -2.9% in 2020. However, collective efforts from the government and the oil companies, coupled with adhering to the social distancing norms, will bode well for the market to return to pre-pandemic levels.

Click here to get the short-term and long-term impact of COVID-19 on this Market.

Please visit: https://www.fortunebusinessinsights.com/pipeline-and-process-services-market-105466

Market Segmentation:

Based on the asset type, the market is bifurcated into pipeline and process. On the basis of operation, the market is classified into pre-commissioning, maintenance, and decommissioning.

  • Based on operation, the maintenance segment held a global pipeline and process services market share of about 61.9% in 2020. The segment is anticipated to experience considerable growth owing to the high demand for the maintenance of pipelines to ensure smooth functioning worldwide.

Lastly, on the basis of region, the market is segmented into North America, Latin America, the Middle East and Africa, Europe, and Asia-Pacific.

Request To Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/pipeline-and-process-services-market-105466
What does the Report Include?

The global market report includes an in-depth analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to announce partnerships, introduce new products, and collaborate that will further contribute to the growth of the market. Moreover, the research analyst has adopted several research methodologies such as SWOT and PESTEL analysis to extract information about the current trends and industry developments that will drive the market growth during the forecast period.

DRIVING FACTORS

Stringent Government Regulations Regarding Oil Operations to Augment Growth

The pipelines are extensively used to transport oil and gas across the globe. Any type of leakage often leads to major damage to human lives and money. For instance, according to the FRACTRACKER report, in 2019, around 614 pipeline incidents were reported in the United States. This resulted in USD 259 million damages and injured around 35 people. Therefore, to avoid any incidence due to the combustion of pipelines, stringent regulations have been imposed by the government agencies to ensure timely maintenance and efficient functioning of the pipelines. In the U.S., for example, the National Energy Board Act (NEB Act) and Onshore Pipeline Regulations (OPR) have imposed regulations that overlook timely supervision and advanced pressure testing activities. These factors are expected to contribute to the global pipeline & process services market growth during the forecast period.

Ask for Customization: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/pipeline-and-process-services-market-105466

REGIONAL INSIGHTS

North America – The region stood at USD 1.44 billion in 2020 and is expected to showcase exponential growth during the forecast period. This is owing to the presence of vast oil & gas fields in countries such as the U.S. that will propel the adoption of advanced pipeline and process services in the region.

Asia-Pacific – The market in the region is anticipated to experience substantial growth during the forecast period. This is due to the increasing government focus on building advanced pipelines that will boost the demand for the product in the forthcoming years.

COMPETITIVE LANDSCAPE

Product Innovation by Key Players to Strengthen Their Market Positions

The market is segmented into several major companies striving to maintain their dominance. These companies are focusing on signing pipeline & process services contracts with government agencies and other players. Additionally, the adoption of strategies such as merger and acquisition, collaboration, and partnership by other key players is expected to boost market growth during the forecast period.

Industry Development:

  • January 2021 - Oceaneering and Stork secured a contract worth USD 6.5 million from Neptune Energy regarding integrity management and fabric maintenance. The contract provides integrity management services consisting of erosion management, cover pressure systems, pipeline, structural, and offshore inspection services.

List of the Companies Profiled in the Global Market:

  • Bluefin Group (United States)

  • Baker Hughes (United States)

  • Altus Intervention (Norway)

  • CR Asia Group (Thailand)

  • Eunisell Limited (Nigeria)

  • Alphaden Energy & Oilfield Limited (Nigeria)

  • Cypress Pipeline & Process Services (United States)

  • Halliburton (United States)

  • Chenergy Services Limited (Nigeria)

  • Techfem (Italy)

  • EnerMech (United Kingdom)

  • BGS Energy Services (United States)

  • Hydratight (United Kingdom)

  • IPEC, Pipeline & Process Services (Iran)

  • IKM Group (Norway)

Quick Buy - https://www.fortunebusinessinsights.com/checkout-page/105466

Table Of Content

  • Introduction

    • Research Scope

    • Market Segmentation

    • Research Methodology

    • Definitions and Assumptions

  • Executive Summary

  • Market Dynamics

    • Market Drivers

    • Market Restraints

    • Market Opportunities

  • Key Insights

    • Key Emerging Trends – For Major Countries

    • Latest Technological Advancement

    • Regulatory Landscape

    • Porters Five Forces Analysis

  • Qualitative Analysis – Impact of COVID-19

    • Impact of COVID-19 on the Pipeline & Process Services Market

    • Steps Taken by the Government to Overcome the Impact

    • Key Developments by Industry Players in Response to COVID-19

    • Potential Opportunities and Challenges due to COVID-19 Outbreak

  • Global Pipeline & Process Services Market Analysis (USD Billion), Insights and Forecast, 2017-2028

    • Key Findings / Summary

    • Market Analysis, Insights and Forecast – By Asset Type

      • Pipeline

        • Transmission

        • Distribution

      • Process

        • FPS

        • Refinery & Petrochemical

        • Storage & Processing

    • Market Analysis, Insights and Forecast – By Operation

      • Pre-Commissioning

      • Maintenance

      • Decommissioning

    • Market Analysis, Insights and Forecast – By Region

      • North America

      • Europe

      • Asia Pacific

      • Latin America

      • Middle East & Africa

  • North America Pipeline & Process Services Market Analysis (USD Billion), Insights and Forecast, 2017-2028

    • Key Findings / Summary

    • Market Analysis, Insights and Forecast – By Asset Type

      • Pipeline

        • Transmission

        • Distribution

      • Process

        • FPS

        • Refinery & Petrochemical

        • Storage & Processing

    • Market Analysis, Insights and Forecast – By Operation

      • Pre-Commissioning

      • Maintenance

      • Decommissioning

    • Market Analysis, Insights and Forecast – By Country

      • U.S. Market Analysis and Forecast – By Operation

        • Pre-Commissioning

        • Maintenance

        • Decommissioning

      • Canada Market Analysis and Forecast – By Operation

        • Pre-Commissioning

        • Maintenance

        • Decommissioning

TOC Continued…!

Speak To Our Analyst- https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/pipeline-and-process-services-market-105466

Have a Look at Related Research Insights:

Aviation Gasoline (Avgas) Market Size, Share and COVID-19 Impact Analysis, By End-User (Private, Commercial, and Military), and Regional Forecasts, 2021-2028

Alkaline Water Electrolysis Market Size, Share & COVID-19 Impact Analysis, By Type (<10 m3/h, <30 m3/h, <50 m3/h, <80 m3/h, and >80 m3/h), By Application (Power Plants, Steel Plant, Electronics and Photovoltaics, Industrial Gases, and Others), and Regional Forecast, 2021-2028

Hydrogen Generation Market Size, Share & COVID-19 Impact Analysis, By Type (On-site and Portable), By Technology (Steam Methane Reforming, Water Electrolysis, Partial Oil Oxidation, and Coal Gasification), By Application (Ammonia Production, Petroleum Refinery, Methanol Production, Transportation, Power Generation, and Others), and Regional Forecast, 2021-2028

Geochemical Services Market Size, Share & COVID-19 Impact Analysis, By Type (Laboratory-based, and Infiled-based), By Service Type (Sample Preparation, Mixed Acid Digest, Hydrogeochemistry, Fire Assay, X-ray Fluorescence, Aqua Regia Digest, and Others), By End-user (Mineral & Mining, Oil & Gas, Archaeological Survey, and Others) and Regional Forecasts, 2021-2028

Bio CHP Market Size, Share & COVID-19 Impact Analysis, By Feedstock (Food Waste, Plastic Waste, Agriculture Waste, Wood Waste, Animal Waste, Paper Waste, and Others), By Prime Mover (Steam Turbine, Gas Turbine, Microturbine, IC Engine), By End-User (Healthcare, Hospitality, Commercial Buildings, Airports, Education Institutes, Recycling Facilities, Manufacturing Industry, Waste Treatment Plant), and Regional Forecast, 2021-2028

About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

Contact Us:

Fortune Business Insights™ Pvt. Ltd.

308, Supreme Headquarters,

Survey No. 36, Baner,

Pune-Bangalore Highway,

Pune - 411045, Maharashtra, India.

Phone:

US :+1 424 253 0390

UK : +44 2071 939123

APAC : +91 744 740 1245

Email: sales@fortunebusinessinsights.com

LinkedIn: https://www.linkedin.com/company/fortune-business-insights

Facebook: https://www.facebook.com/FortuneBusinessInsightsPvtLtd