Pipeline & Process Services Market Analysis | 2023-2028

Market Insights

The pipeline & process services market was estimated at USD 3.58 billion in 2022 and is likely to grow at a CAGR of 5.5% during 2023-2028 to reach USD 4.93 billion in 2028.

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Market Drivers

Introduction

Pipeline & process services provide a wide range of pre-commissioning & commissioning, maintenance, and decommissioning services to the pipeline and process plant 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 plants, and export pipelines.

Market Drivers

Several drivers contribute to the growth and demand for pipeline and process services in the global market:

Expansion of Oil and Gas Industry: The oil and gas industry is a major end-user of pipeline and process services. With the rise in global energy demand, new oil and gas fields need to be developed, which in parallel, will require pipeline and process services.

Aging Infrastructure: Aging infrastructure requires high maintenance, and rehabilitation to ensure safe operations. Many pipelines and process facilities globally are reaching the end of their lifespan, creating a need for new pipeline and process services.

Regulatory Compliance: Governments and regulatory bodies impose strict standards and regulations for the operation of pipelines and industrial processes. Companies must comply with these regulations to ensure safety, environmental protection, and operational efficiency.

Environmental Concerns: Industries are taking several measures to address environmental concerns. Pipeline and process services etc. play a vital role in preventing spills, emissions, etc. Also, these services help in detecting leaks or any possible environmental damage.

Technological Advancements: With the advent of robotics, remote sensing, and data analytics, several industries have been transformed, including the pipeline and process services industry. These technologies enable accurate inspections, predictive maintenance, and real-time monitoring, enhancing the overall efficiency and effectiveness of services.

Increasing Water and Wastewater Treatment: The water and wastewater industry requires pipeline and process services for different applications including maintenance, and optimization of water distribution networks, sewage systems, etc. Since wastewater management has become a significant challenge due to the high rise in water requirements, the demand for these services is expected to grow.

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Key Players

The following are the key players in the pipeline & process services market:

• Altus Intervention
• BHGE
• Bluefin Group
• Chenergy Services
• Enermech
• Halliburton
• Hydratight
• IKM
• IPEC
• Techfem Spa
• Trans Asia Pipelines
• Tucker Energy Services.

Note: The above list does not necessarily include all the top players in the market.

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Segments Analysis

By Asset Type

"Pipeline segment is projected to account for the larger market share during the forecast period"

The market is segmented into 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 in 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 km 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.

By Operation Type

"Pre-commissioning & commissioning segment held the largest share of the market in 2022"

The market is segmented into pre-commissioning & commissioning, maintenance, and decommissioning. The pre-commissioning & commissioning segment held the largest share of the market in 2022. 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 American region.

Regional Analysis

"North America is estimated to lead the market during the forecast period"

North America is estimated to lead the 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 manufactured crude & natural gas from these remote locations is expected to drive the overall pipeline market in the region.

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Research Methodology

• This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s pipeline & process services market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a 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.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• 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, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering 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.

The pipeline & process services market is segmented into the following categories:

By Asset Type

• Pipeline
• Process

By Operation Type

• Pre-Commissioning & Commissioning    
• Maintenance 
• Decommissioning

By Region

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and the Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Customization Option

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research:

Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.