The global natural gas pipeline market was valued at around 2,624 thousand miles in 2015 and is expected to surpass 2,651 thousand miles by 2020, says Technavio.
Technavio has announced its latest market research report on global natural gas pipeline market to its oil and gas portfolio. This market analysis discusses the major drivers and key emerging trends that will influence the growth of the global natural gas pipeline market during the forecast period 2016-2020. Some of the top vendors listed in this industry analysis include ABB, BP, Enterprise Product Partners, GE Oil & Gas, Saipem, and Technip.
In terms of geographical analysis, APAC will be the fastest growing region in the global market, reaching to almost 102 thousand miles by 2020. China, India, Japan, and South Korea will emerge as the key revenue-generators.
“The increased reliance on deepwater and ultra-deepwater drilling will lead to the growth of the natural gas pipeline market. The companies in the oil and gas sector are focusing on increased production operations to meet the requirement for natural gas. Vendors are investing in the development and upgradation of technological capabilities to manage operations during hostile operating conditions,” says Thanikachalam MC, a lead analyst at Technavio for research on oil and gas.
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The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Shift in base of natural gas reserves
The hydrocarbon-rich regions around the world are identified and the areas are witnessing increased drilling operations. Many exploration and production (E&P) companies have started to look at unconventional avenues for exploration. Diversification of the energy markets will lead to the growth of the natural gas pipeline market. Several vendors are exploring the majority of the unconventional resources, especially those pertaining to hydrates or the Arctic region. The tapping of such alternative resources will increase the demand of natural gas pipeline during the forecast period.
Economic advantages of pipeline transportation
The economic advantages offered by pipeline transportation is one of the key driving factor of the market. There are three major means of transportation of crude oil to the downstream market like road/ rail tankers, pipelines, marine vessels/tankers. Transportation of oil and natural gas by road/ rail tankers for medium to long distance is not economical or save. As a result, majority of vendors prefer transporting natural gases using pipelines only.
Decline in raw material (steel) prices
The rapid decline in the price of raw materials, especially steel will lead to the growth of the natural gas pipeline market. The decrease in the price of raw materials help in reducing the costs incurred in the production of the product and increase the revenue contributions. This sudden shift in prices is encouraging vendors to invest in the production of steel pipelines for the transportation of natural gases.
Other prominent vendors identified in this report are Bharat Petroleum, Cairn, Caspian Pipeline Consortium, China National Petroleum Corporation, Inter Pipeline, MOL Group, Saudi Aramco, Sunoco, Valero Energy, Aker Solutions, Bechtel, Daewoo Engineering & Construction, Hyundai Heavy Engineering, Mott Macdonald, Tecnicas Reunidas, Worley Parson, Emerson Process Management, FMC Technologies, Huawei Technologies, Infosys, Rockwell Automation, SAP, Schneider Electric, Wipro, Yokogawa Electric Corporation, and ZTE Corporation.
This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, key financials, etc. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Natural Gas Pipeline Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Oil and Gas Logistics Market 2016-2020
- Global SCADA Market in the Oil and Gas Industry 2016-2020
- Global Small-Scale Liquefaction Industry 2016-2020
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