DUBLIN – (COMMERCIAL THREAD) – The report “Pipeline Maintenance Services Market – Growth, Trends, COVID-19 Impact and Forecast (2021 – 2026)” has been added to ResearchAndMarkets.com offer.
The global pipeline maintenance services market is expected to grow at a CAGR of approximately 2.8% during the forecast period.
Chinese National Petroleum Company
Kinder Morgan Inc.
Royal Dutch Shell SA
Baker Hughes A GE Co
Dacon Inspection Services Co. Ltd
Intertek Group PLC
IKM Gruppen AS
Oil States Industries Inc.
TD Williamson inc.
Key market trends
Pipeline repair and maintenance segment will have significant market share
Low carbon steel is the most widely used material for oil and gas pipelines around the world due to its properties, such as toughness, ductility, weldability, ability to resist changes temperature and cost efficiency, compared to stainless steel. But it is susceptible to corrosion in the presence of air, soil and water, which is a significant drawback.
Corrosion repair systems are designed to strengthen the pipe affected by corrosion and contain the transported fluid in the event of failure. Corrosion repair systems include full circumference welded sleeves, welded patches, composite reinforcements and pipe section replacements.
A major driver of corrosion repair services is the growing share of heavy crude. Conventional oil reserves are declining, while demand for oil and gas is expected to register modest growth. Therefore, in order to meet the growing demand, the production of unconventional and heavy oil is increasing. The transport of heavy oil is harmful to the pipeline carrying the oil. As a result, heavy oil pipelines experience more frequent corrosion related problems. Thus, the increasing share of heavy crude is expected to drive the demand for corrosion repair services during the forecast period.
Hence, with strong demand for services from Canada and United States, North America is expected to dominate the corrosion repair services market during the forecast period. In contrast, in Asia-Pacific and Europe, where pipelines are relatively new, demand for corrosion repair services is expected to be limited.
North America dominates the market
North America is expected to have the largest market for pipeline maintenance services during the forecast period, mainly due to the huge installed capacity of pipelines and government regulations.
The United States has the largest pipeline network in the world. About a third of the total pipeline market in the country is used to transport crude oil, delivering millions of gallons of oil equivalent / day to various refineries and export terminals.
As of 2018, there are more than 210 gas pipeline systems, with an extensive network of gas pipelines, used to transport natural gas across the country and to other countries.
In addition, over the past five years, the geographic concentration of oil production has shifted from the United States to Canada.
The pipeline transportation industry has grown mainly due to the steady production of oil. Directional drilling, hydraulic fracturing and other advanced drilling techniques have increased the number of profitable oil reserves.
In addition, the Canadian pipeline system is strongly interconnected with the United States pipeline system. This relationship has served both countries well in terms of pipeline networks and is expected to continue to do so in the future with many expansions and new pipeline projects planned.
Hence, it is expected to create new opportunities for additional pipeline capacity during the forecast period, thereby boosting the pipeline maintenance services market in the region.
Main topics covered:
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 MARKET OVERVIEW
4.2 Market Size and Demand Forecast in USD Billion, to 2026
4.3 Historical capacity of the installed pipeline and forecast in kilometers, until 2026
4.4 Recent trends and developments
4.5 Government policies and regulations
4.6 Market dynamics
4.7 Supply chain analysis
4.8 Porter’s five forces analysis
5 MARKET SEGMENTATION
5.1 Type of services
5.1.2 Rinsing and chemical cleaning
5.1.3 Pipeline repair and maintenance
5.2 Deployment location
5.2.1 On land
6 COMPETITIVE LANDSCAPE
6.1 Mergers and acquisitions, joint ventures, collaborations and agreements
6.2 Strategies adopted by the main actors
6.3 Company profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information on this report, visit https://www.researchandmarkets.com/r/52q6xj