Pipeline Transportation Market – Huge Growth Opportunities and Industry Expansion by 2030
August 5, 2022
Surge in demand for cost efficient transportation system for chemicals and other liquids drive the growth of the global market.
PORTLAND, OREGON, UNITED STATES, August 5, 2022 /EINPresswire.com/ -- Global Pipeline transportation market size was valued at $16.3 billion in 2020, and Pipeline transportation market forecast projected to reach $34.8 billion by 2030, at a CAGR of 7.9% from 2021 to 2030. Increase in demand for oil & gas, rise in the production of offshore resources, and surge in demand for cost efficient transportation system for chemicals and other liquids drive the growth of the global pipeline transportation market. On the other hand, presence of intrusion and leakage detection during transportation impede the growth to some extent. However, emerging technologies to overcome pipeline transportation are expected to pave the way for lucrative opportunities in the industry.
The need for constant surveillance and monitoring services as pipelines can be target of vandalism. It also faces challenges in steady and smooth operations. Many pipelines across the world carry chemical stable and flammable materials over long distance and have to cross water expansions, terrains and hills led to increase in the intrusion and leakage of flammable gas and fuels are all the factors hampering the growth of the pipeline transportation market in the forecast period.
Download Report Sample (255 Pages PDF with Insights) @ https://www.alliedmarketresearch.com/request-sample/14610
The global pipeline transportation market is analyzed across type, solutions, services, and region. On the basis of type, the global Pipeline transportation market is segmented into Oil and gas, Coal, Chemical, Water, and Other.
By solutions the network communication solution segment held the highest market share in 2020, holding around one-third of the global market. The same segment is also projected to manifest the fastest CAGR of 8.2% from 2021 to 2030.
By service, the maintenance and support segment contributed to the major share in 2020, accounting for nearly two-fifths of the global market, and is expected to lead the trail during the forecast period. The same segment is also anticipated to cite the fastest CAGR of 8.5% from 2021 to 2030.
By region, Asia-Pacific held the highest market share in terms of revenue 2020, garnering nearly two-fifths of the global market. The same region is also expected to showcase the fastest CAGR of 8.9% throughout the forecast period. The other provinces discussed in the report include North America, Europe and LAMEA.
For Purchase Enquiry@ https://www.alliedmarketresearch.com/purchase-enquiry/14610
The major companies profiled in this Pipeline transportation industry include Alstom, ABB Ltd, Schneider Electric, Siemens, ESRI, Emerson, Trimble Navigation Limited, Rockwell Automation, FMC Technologies, and Alcatel-Lucent. Due to rapidly increasing demand in the demand for large scale petroleum and chemical raw materials in the modern society led to on-going pipeline infrastructure development in developing countries, and the old pipelines are being virtualization due to the rapid development of detection technology led the key manufacturers expand their Pipeline transportation production capacities and safety factor in order to meet market demand across the globe. Additional growth strategies such as acquisition, partnership, product launch and business expansion strategies are also adopted to attain key developments in the Pipeline transportation market trends.
Impact Of Covid-19 On The Global Pipeline Transportation Market
• Emergence of COVID-19 had a negative impact on the growth of the global Pipeline transportation market during this period.
• This impact is mostly attributed due to shutdown of many manufacturing industries led to decline of demand for Pipeline transportation during this period.
• The decrease in demand for many non-essential products and shut down of electrical, automotive, and other energy related industries has created a negative impact on the development of Pipeline transportation market
• The increasing awareness among the people regarding the environment pollution caused by the conventional transportation of the fossil fuels and chemicals is a good opportunities for market.
• Thus, the abovementioned factors are expected to have great impact on the global Pipeline transportation market growth in this forecast period.