Pipeline Transportation Market Anticipated to Reach USD 33.76 Billion by 2028

Vantage Market Research

Jan 21, 2022

According to our latest report, the Pipeline Transportation Market is expected to reach USD 33.76 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 10.3% between the forecast period of 2022 and 2028. The pipeline transportation serves complete automation of loading and unloading operations, flexibility, less cost of operation as well as environmental friendliness fuelling the market growth.

Key Findings:

  • The oil & gas segment is projected to grow at a significant CAGR over the forecast period. The oil & gas resources have an uneven presence all over the globe that has resulted in the development of cost-efficient as well as safe transportation of crude oil and petroleum products like petrol, kerosene, diesel, with other gas extracted during the refining process.
  • The network communication solution segment held a prominent market share in 2021. Several upgrades in pipeline transportation systems with virtualization, augmented reality, and connectivity of management equipment are factors fuelling network communication solution growth.
  • Asia Pacific is expected to grow at the fastest CAGR from 2022 to 2028. The growth in construction activities, as well as technological advancement in transportation techniques, are factors driving regional growth.

Some of the major players in the Pipeline Transportation Market include - Alstom, Schneider Electric, ABB Ltd, ESRI, Siemens, Trimble Navigation Limited, Emerson, FMC Technologies, Rockwell Automation, and Alcatel-Lucent.

High demand for safe as well as cost-efficient transportation systems for fuels and other hazardous chemicals to manufacturing and consumer sites coupled with the presence of facilities at large-scale in the pipeline transportation sector and the requirement for the modifications and maintenance in accordance with the site requirements are some factors anticipated to serve opportunities for growth of different consulting services in Pipeline Transportation Market.

Asia Pacific is expected to record the fastest CAGR. The region has highly populated countries like India and China, which has produced the demand for several needs which lead to the increasing development of pipeline transportation systems. Countries like India, China, and Indonesia are major markets in the world having huge pipeline transportation networks. Additionally, the government in India has invested in the construction of natural gas pipelines as there are various untapped natural gas resources in this sub-continent. Several government initiatives and support towards wastewater treatment plant is expected to fuel the regional market growth.