Research Nester has released a report titled Pipeline And Process Services Market – Global Demand Analysis & Opportunity Outlook 2027” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.
Four pipeline transportation occurrences happened in the month of July, 2019 as reported by the Transportation Board of Canada. The reasons depicted were due to the release of low vapor pressure hydrocarbons, fire, pipeline contacted by object and environmental activity.
The statistics form an alarming need to control such incidences. Several of these incidents have led to oil spillage that has adversely affected the environment and is helping to drive ways of troubleshooting and maintenance activities.
The term pipeline and process services deals with two categories, pipeline services and process services. The pipeline services includes activities for laying and distribution of the pipeline network, such as pipeline flooding, gauging and cleaning, and others.
Process services includes all those activities required to maintain the deployed pipeline network such as nitrogen purging, hydrocarbon decontamination, chemical cleaning, accelerated cooling and others. There is a Growing need for safe and reliable transportation of petroleum products and development of new pipeline networks on account of various challenges observed in the deployment of drilling sites. All the above mentioned factors are anticipated to support the growth of pipeline and process services market over the forecast period.
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The pipeline and process services market is anticipated to record robust CAGR over the forecast period, i.e. 2019-2027. The market is segmented by asset type into pipeline and process, out of which, pipeline sub-segment is further segmented into transmission and distribution. Among these sub-segments, distribution segment is anticipated to largest market share, owing to the demand for connectivity of pipeline networks.
Geographically, the pipeline and process services market is segmented by regions into North America, Europe, Asia-Pacific, Latin America and Middle East & Africa region, out of which, Middle East is expected to have largest market share on the back of rising demand for exports of petroleum products. Riding on the back of factors such as growing consumption in economies of India and China and expansion of existing pipeline network, Asia-Pacific is expected to gain significant market share over the forecast period.
However, changes in law and regulatory processes for inter-connecting nations, which bridge the connectivity gap between the supplier and end-user, is estimated to act as a barrier to the growth of the market during the forecast period.
This report also studies existing competitive scenario of some of the key players of the pipeline and process services market, which includes company profiling of Halliburton (NYSE: HAL), Baker Hughes, a GE company LLC (NYSE: BHGE); EnerMech, IKM Ocean Design AS, Hydratight Limited, Altus Intervention, BlueFin Group, Tucker Energy Services, Ideh Pouyan Energy and Trans Asia Pipeline and Specialty Services.
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The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Pipeline And Process Services Market – Global Demand Analysis & Opportunity Outlook 2027”, analyses the overall pipeline and process services industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the pipeline and process services market in the near future.
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