Research Nester has released a report titled “Pipeline And Process Services Market – Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the pipeline and process services market in terms of market segmentation by asset type, by product type transferred, by end user location of deployment, by services and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The pipeline and process services market is segmented by asset type into pipeline and process. The pipeline sub-segment is further segmented into transmission and distribution, out of which, the distribution segment is anticipated to have largest market share, on account of growing need for pipeline connectivity network.
The pipeline and process services market is anticipated to record a significant CAGR during the forecast period, i.e. 2019-2027. Growing concern for accidents and incidences, combined with challenges observed in the deployment of new sites is estimated to promote the demand for pipeline and process services market throughout the forecast period.
Regionally, the pipeline and process services market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, Middle East is expected to have largest market share on the back of increasing exports and production of oil products. Moreover, growing consumption of oil products and expansion of existing pipeline network is estimated to propel the growth of the market in Asia Pacific region over the forecast period.
Growing Need For Economical And Reliable, As Well As Safe Connectivity Network
The Transportation Board of Canada reported four pipeline transportation occurrences in the month of July, 2019. The factors causing these occurrences included reasons such as release of low vapor pressure hydrocarbons, fire, pipeline contacted by object and environmental activities.
Oil spills are a major environmental concern during the process of transportation of oil and gas via pipeline network. This has resulted in the growing need for troubleshooting and maintenance activities to mitigate the issue of oil spills, so as to have a safe and reliable pipeline connectivity network.
However, the concern for changes in laws and regulations of nations, where inter-continental pipeline networks are laid in order to bridge the connectivity between the supplier and end-user are the major factors expected to operate as key restraints to the growth of the pipeline and process services market during the forecast period.
This report also provides the existing competitive scenario of some of the key players of the pipeline and process services market, which includes company profiling of Halliburton (NYSE: HAL), Baker Hughes, a GE company LLC (NYSE: BHGE); EnerMech, IKM Ocean Design AS, Hydratight Limited, Altus Intervention, BlueFin Group, Tucker Energy Services, Ideh Pouyan Energy and Trans Asia Pipeline and Specialty Services. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the pipeline and process services market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.