Over the last few years, the oil pipeline transportation industry has witnessed significant growth, powered by unfailing oil production all over the world. As production increased, oilfields required extra pipeline capacity to move crude oil from exploration sites to refineries, where crude oil can be refined into higher-value products such as gas. In addition, rise in crude petroleum demand and rise in pipeline investments are expected to accelerate the growth of the sector in the coming years. Moreover, the growth of the crude oil pipelines market is driven by rise in offshore operations, such as deepwater and ultra-deepwater production and development. In addition, the availability of ample natural gas reserves and lower cost compared with other forms of fossil fuel are projected to boost the demand for natural gas from several end-use sectors such as power generation. That, in turn, is expected to boost the market for crude oil pipelines.
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In the coming years, due to factors, such as less harm to environment and rise in research activities for energy security in developed countries, natural gas is expected to witness rapid adoption as compared to all other fuel types, which, in turn, is expected to boost the growth of the global pipeline industry. The extraction of new natural gas sources, such as shale gas reserves, and the resulting market pressure are boosting foreign natural gas trade; therefore, the volume of transportation and storage are increasing accordingly. Consequently, these changes are likely to introduce new opportunities for the pipeline industry.
However, transportation of heavy crude oil via pipelines is one of the key obstacles that crude oil pipeline operators are facing. The increased density of crude oils and the high-level cooling properties make their transportation comparatively inefficient, which results in various operational problems. This is expected to lead to rise in adoption of improved pipeline technologies across all the oil and gas pipeline companies in the coming years.
COVID-19 scenario analysis
The global crude oil pipelines market is expecting a slowdown during the starting couple of years owing to the outbreak of the COVID-19 pandemic. Governments of various countries have implemented lockdown, which has led to shutdown of factories in scores of cities and provinces across the world, thus leading to predictions of a sharp slowdown in the output from oil & gas industry to construction sector. The crude oil pipelines industry is expected to get directly impacted for the next one or two years, if the growth of the oil industry declines, as it is one of the key consumers of crude oil pipelines. Moreover, companies are dealing with missing sales and disrupted supply chains as production activities shutdowns.
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Key benefits of the report
- This study presents the analytical depiction of the global crude oil pipelines industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global crude oil pipelines market share.
- The current market is quantitatively analyzed from 2022 to 2029 to highlight the global crude oil pipelines market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
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