The global pipeline transportation market is experiencing a surging demand for the transportation of crude oil, natural gas, and other petroleum products. The increasing demand for energy is driving the demand for pipeline transportation and is expected to reach a market value of USD 29.19 billion by 2028, at a CAGR of 11.59% from 2021 to 2028
The rising demand for natural gas, the increasing need for fuel transportation, and the need to reduce transportation costs are some of the key factors driving the growth of the global pipeline transportation market. In addition, technological advancements in pipeline construction, increasing investments in the oil and gas industry, and the increasing energy demand are expected to drive the market during the forecast period.
On the other hand, increasing environmental awareness and increasing regulations are expected to hinder the growth of the market. The growing popularity of alternative transportation methods and the high cost of pipeline transportation are also expected to limit the growth of the market.
The global pipeline transportation market is segmented by type, application, and region. By type, the market is segmented into crude oil pipelines, natural gas pipelines, and others. By application, the market is divided into onshore and offshore. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
North America is expected to dominate the global pipeline transportation market due to the presence of major oil and gas companies, technological advancements, and the presence of large number of pipeline networks in the region. The Asia Pacific region is expected to witness the fastest growth due to the increasing demand for energy in the region and the increasing investments in the region.
Some of the key players in the global pipeline transportation market are Royal Dutch Shell plc, Exxon Mobil Corporation, Chevron Corporation, Total SA, BP plc, China Petroleum & Chemical Corporation, TransCanada Corporation, Enbridge Inc., and Marathon Petroleum Corporation.
Get a comprehensive report summary that describes the market value and forecast along with the research methodology. Download the PDF brochure
