Portland, OR, March 03, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global pipeline equipment market generated $12.5 billion in 2021, and is estimated to reach $18.7 billion by 2031, witnessing a CAGR of 4.2% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $12.5 Billion |
| Market Size in 2031 | $18.7 Billion |
| CAGR | 4.2% |
| No. of Pages in Report | 193 |
| Segments Covered | Application, End Use and Region |
| Drivers | Rising oil and gas consumption |
| An increase in offshore activities, such as deepwater and ultra-deepwater production and development | |
| Opportunities | Increased demand for pipeline equipment due to the need for affordable and secure transportation methods for dangerous chemicals and other liquids and gases |
| Restraints | The global shift toward renewable sources for electricity generation which poses a massive threat to oil and gas demand |
Covid-19 Scenario:
- The COVID-19 pandemic outbreak hampered the pipeline equipment market growth due to the reduced demand for power generation and chemical manufacturing industries across the globe.
- Moreover, the shutdown of manufacturing industries and the demand for power from various industries had a significant impact on the market. There were delays in pipeline projects due to lockdown restrictions in major countries like the U.S., India, and others. The reduced gas demand due to the decline in electricity consumption and travel restrictions also negatively affected gas consumption in several countries.
- However, the market has stabilized post the pandemic.
The report offers a detailed segmentation of the global pipeline equipment market based on application, end use, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
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Based on application, the gas pipeline segment held the largest share in 2021, accounting for three-fourths of the global pipeline equipment market and would maintain its dominance in terms of revenue through 2031. However, the liquid pipeline segment is estimated to witness the fastest CAGR of 4.7% during the forecast period.
Based on end use, the oil and gas segment held the largest share in 2021, capturing more than two-fifths of the global pipeline equipment market, and would lead the trail through 2031. The others segment, on the other hand, is estimated to witness the fastest CAGR of 5.0% during the forecast period. The report also discusses the chemical, water and wastewater, and energy segments.
Based on region, the market in North America was the largest in 2021, accounting for nearly two-fifths of the global pipeline equipment market share and is likely to maintain its leadership status during the forecast period. Moreover, the market in Asia-Pacific is expected to manifest the highest CAGR of 4.8% from 2022 to 2031. The other regions analyzed in the study include Europe and LAMEA.
Leading players of the global pipeline equipment market analyzed in the research include Destec Engineering Limited, Siderforgerossi Group SpA, LTS Energy, Arnco, Avesta Steels & Alloys, RBV Energy, Fittinox S.R.L., Arabian Oilfield Supplies & Services, Aqueterra Group Ltd., Weir Oil & Gas, and AFG Holdings, Inc.
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The report analyzes these key players of the global pipeline equipment market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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