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Crude Oil Pipeline Transport Global Market Report 2023
Major players in the crude oil pipeline transport market are ABB Ltd., Alcatel-Lucent Enterprise, Emerson Electric Co., TechnipFMC PLC, Schneider Electric SE, Environmental Systems Research Institute Inc.
New York, June 01, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Crude Oil Pipeline Transport Global Market Report 2023” –
(ESRI), Rockwell Automation Inc., Siemens Energy Global, Trimble Inc., Alstom, John Wood Group PLC, Tenaris S.A., TMK Group, ChelPipe Group, Huawei Technologies Co Ltd., and Honeywell International Inc.
The global crude oil pipeline transport market is expected to grow from $64.61 billion in 2022 to $69.91 billion in 2023 at a compound annual growth rate (CAGR) of 8.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The crude oil pipeline transport market is expected to reach $92.92 billion in 2027 at a CAGR of 7.4%.
The crude oil pipeline transport market includes revenues earned by entities by providing cathodic protection facility, oil storage facility, pumping facility, reception facility, operational control and monitoring system, and more.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Crude oil pipeline transport refers to the long-distance transportation of crude oil through a network of pipelines from nearby or distant oil wells to oil tankers to provide the cheapest, safest, and most environmentally friendly mode of transportation. Crude oil is a mixture of hydrocarbons that naturally occurs as a liquid and is used as transportation fuel.
North America was the largest region in the crude oil pipeline transport market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in crude oil pipeline transport report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of pipeline used in crude oil pipeline transport are gathering pipeline, transmission pipeline, distribution pipeline, and feeder pipeline.Gathering pipelines, also known as collecting pipelines, refer to a type of pipeline that transports gases and liquids from a resource’s origin, such as deep-sea rock formations, to a processing plant, refinery, or transmission line.
It provides various solutions, including security solutions, automation and control, integrity and tracking solutions, network communication solutions, and others. These can be deployed in onshore and offshore locations, that included consulting services, managed services, and maintenance and support.
The surge in the demand for oil and gas is expected to propel the growth of the crude oil pipeline transport market going forward.Oil and gas are the fossil fuels in their liquid and gaseous states, respectively, that are used in various industries such as transportation, insulation, plastic, clothing, furniture, food, and automation.
Due to its safety and low maintenance cost, pipeline transportation is considered to be one of the most commonly used ways for transportation of crude oil and gases from nearby or far oil wells to oil tankers. For instance, in March 2023, according to the US Energy Information Administration, a US-based federal statistical system for gathering, processing, and disseminating energy data, there is an increase in U.S. crude oil output to 12.4 million b/d in 2023 from the record high of 11.7 million b/d in 2022. Furthermore, in September 2022, the US consumed an average of 86.6 billion cubic feet of natural gas per day (Bcf/d) in 2022, the highest annual consumption of natural gas in the U.S. as compared to the previous year. Therefore, a surge in the demand for oil and gas is anticipated to fuel the crude oil pipeline transportation market.
Technological advancements have emerged as a key trend gaining popularity in the crude oil pipeline transport market.Major players operating in the crude oil transport market are concentrating their efforts on creating innovative technologies to strengthen their position in the market.
For instance, in November 2021, Schneider Electric SE, a France-based oil pipeline company, partnered with Prisma Photonics, an Israel-based company operating in designing and manufacturing fiber sensing for oil and gas infrastructure, introduced the PrismaFlow with the integration of real-time intelligence and precise monitoring to prevent accidental and malicious activity, which enhances efficiency and sustainability in energy transportation via pipelines and avoids resource loss.PrismaFlow is a pipeline monitoring solution made up of both hardware and software, significantly lowering positive and negative false alarm rates as compared to other fiber-sensing technology.
PrismaFlow offers improved event classification and detection with a precision of less than 10m and can recognize multiple simultaneous events without interference or crosstalk.
In December 2021, Energy Transfer LP, a US-based company engaged in natural gas and propane pipeline transport, acquired Enable Midstream Partners LP for an undisclosed amount.Through this acquisition, Energy Transfer LP aims to improve its midstream and gas transportation systems and strengthen its petroleum processing and collection capabilities in the US.
Enable Midstream Partners LP is a US-based pipeline company with gathering, processing, transportation and storage assets for natural gas, crude oil, condensate, and produced water.
The countries covered in the crude oil pipeline transport market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The crude oil pipeline transport market research report is one of a series of new reports that provides crude oil pipeline transport market statistics, including crude oil pipeline transport industry global market size, regional shares, competitors with a crude oil pipeline transport market share, detailed crude oil pipeline transport market segments, market trends and opportunities, and any further data you may need to thrive in the crude oil pipeline transport industry. This crude oil pipeline transport market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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