DUBLIN--(BUSINESS WIRE)--The "Pipeline Maintenance Services Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The global pipeline maintenance service market is expected to grow at a CAGR of approximately 2.8% during the forecast period.
- ExxonMobil Corporation
- BP PLC
- China National Petroleum Corporation
- Kinder Morgan Inc.
- Chevron Corporation
- Royal Dutch Shell PLC
- Baker Hughes A GE Co
- EnerMech Ltd
- STATS Group
- Dacon Inspection Services Co. Ltd
- Intertek Group PLC
- IKM Gruppen AS
- Oil States Industries Inc.
- T. D. Williamson Inc.
Key Market Trends
Pipeline Repair & Maintenance Segment to Have a Significant Share in the Market
- The low carbon steel is the most widely used material for oil and gas pipelines, worldwide, owing to its properties, such as toughness, ductility, weldability, ability to withstand temperature changes, and cost-effectiveness, as compared to stainless steel. But it is susceptible to corrosion in presence of air, soil, and water, which is a significant disadvantage.
- The corrosion repair systems are designed to strengthen the pipe affected by corrosion and contain the transported fluid in the event failure. The corrosion repair systems include full circumferential welded sleeves, welded patches, composite reinforcements, and pipe section replacements.
- One of the major drivers for corrosion repair services is the growing share of heavy crude. The reserves for conventional oil are declining, while the demand for oil and gas is expected to register a modest growth. Therefore, in order to meet the growing demand, the production of unconventional and heavy oil is increasing. The transportation of the heavy oil is harmful to the pipeline carrying the oil. Therefore, the heavy oil pipelines witness more frequent corrosion-related problems. Thus, the growing share of heavy crude is expected to drive the demand for corrosion repair services, during the forecast period.
- Hence, with high demand for services from Canada and the United States, North America is expected to dominate the corrosion repair services market during the forecast period. On the other hand, in the Asia-Pacific and European region, where the pipelines are relatively new, the demand for corrosion repair services is expected to be limited.
North America to Dominate the Market
- North America is expected to have the largest market for pipeline maintenance services during the forecast period, primarily owing to huge installed pipeline capacity and government regulations.
- The United states has the largest network of pipelines in the world. Approximately one 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 natural gas pipeline systems, with a vast network of natural gas pipeline network, being used to transport natural gas across the country and to other countries.
- Moreover, over the past five years, the geographic focus of oil production shifted from the United States to Canada.
- The oil pipeline transportation industry grew mainly due to the steady oil production. Directional drilling, hydraulic fracturing, and other advanced drilling techniques have increased the number of profitable oil reserves.
- Further, Canada's pipeline system is highly interconnected with the United States' pipeline system. This relationship has served both countries well in terms of the pipeline networks and is expected to continue to do so in the future with many expansions and new pipeline projects planned.
- Hence, this is expected to create new opportunities for additional pipeline capacity during the forecast period, thereby, boosting the pipeline maintenance services market in the region.
Key Topics Covered:
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 MARKET OVERVIEW
4.2 Market Size and Demand Forecast in USD billion, till 2026
4.3 Installed Pipeline Historic Capacity 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 Service Type
5.1.2 Flushing & Chemical Cleaning
5.1.3 Pipeline Repair & Maintenance
5.2 Location of Deployment
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/52q6xj