Pipeline network refers to the collection of essentials like pumps, valves, pipes, tanks, heaters, compressors, and others linked to each other in a particular way. These networks can be mass carriers of water, natural gas, petroleum, crude oil, and other products. Such pipeline networks go underground, overground, and underwater and are always exposed to various natural disasters or uncertain accidents. Hence, they need constant observation and maintenance as any leakage or fault can result in human as well as financial loss.
The global pipeline network market size is estimated to reach over USD 16 billion by 2028. Market growth can be attributed to the increasing adoption of analytics and big data. Also, the increasing demand from developing regions for oil and gas is also boosting the global Pipeline Network Market growth.
However, the slow technological adoption and political imbalance in several countries are likely to slow down market growth. Furthermore, growing technological advancements and their adoption among global oil and gas industries are expected to be opportunistic for the market in the forthcoming years. Also, growing regulations and security standards for the pipeline network are also anticipated to provide market growth opportunities in forthcoming years.
Key Segments of the Global Pipeline Network Market
Component Overview, 2018-2028 (USD Billion)
- Maintenance & Support
Pipeline Type Overview, 2018-2028 (USD Billion)
- Liquid Pipeline
- Gas Pipeline
Application Overview, 2018-2028 (USD Billion)
- Pipeline Optimization
- Pipeline Monitoring
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global Pipeline Network Market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global Pipeline Network Market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the pipeline network industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on component, pipeline type, and application. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global pipeline network market. The report will benefit: Every stakeholder involved in the pipeline network market.
- Managers within the pipeline network industry looking to publish recent and forecasted statistics about the global pipeline network market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global pipeline network market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
Pipeline network solutions have an extensive range of applications across various industries such as biofuel, natural gas, water and wastewater, and oil. Over the past few years, the number of natural disasters has increased that is resulting in increased concerns among these industries. For instance, in the year 2019 over 614 pipeline incidents were reported in the U.S. alone that caused approximately $259 Billion loss, 10 deaths, and around 35 injuries. However, with the advancements in technology these industries are investing in solutions that can help in avoiding such incidents in advance and notifying about the status of pipelines, therefore, driving the demand for pipeline network solutions. Besides, adopting pipeline network solutions can result in increase productivity, efficient monitoring of networks, reduce unnecessary expenditures, and eliminates human errors. Therefore such factors combined driving the market for pipeline networks.
Based on the component segment, the market is divided into solutions and services. The services segment is also sub-segmented into maintenance & support and consulting. In the year 2019, the solutions segment seized the major market revenue and it is likely to embrace the major market share over the forecast years. On the contrary, the services segment gathered the highest CAGR during the forecast period. The need for timely support and maintenance, and providing sufficient training to employees is boosting the demand for this segment.
Pipeline Type Segment
On the basis of the pipeline type, the market is segmented into liquid pipeline and gas pipeline. The gas pipeline segment dominated the pipeline network Market in 2019 and it is projected to do so throughout the forecast period. The market control of this segment is principally attributed to the growing utilization of natural gas worldwide. On the contrary, the water pipeline segment is also anticipated to hold a significant market share throughout the forecast period.
In terms of application, the market is segmented into pipeline optimization and pipeline monitoring. The pipeline monitoring segment held the major market share in 2019 and it is anticipated to do so throughout the forecast period. The increasing number of natural disasters and strict government laws and regulations for pipeline infrastructure safety is driving the market demand for pipeline monitoring solutions. However, the pipeline optimization segment is anticipated to account for the maximum CAGR throughout the forecast years.
The North American region dominated the overall market in 2019 and it is projected to keep its position during the forecast years 2018-2028. The dominance of this region is mainly attributed to the growing number of pipelines in Canada and the U.S. Also, the presence of the majority of market vendors is also the key factor boosting the market growth in this region. However, the Asia-Pacific region is projected to contribute to major CAGR over the forecast years.
The major players of the global pipeline network market are ABB, Cisco Systems, Emerson, General Electric, Hitachi, Huawei, Honeywell, Siemens, Schneider Electric, and Wipro. Moreover, the other potential players in the Pipeline Network Market are Rockwell Automation, Sensornet, OptaSense, PSI Software, and ORBCOMM. The renowned industry players are coming up with novel pipeline network solutions. For instance, In May 2019, Venture Global LNG and Honeywell partnered to assist Venture Global LNG in building low-cost supply LNG (Liquefied Natural Gas) facility by using high-performance equipment.