Oil and Gas Pipes Market Size Was Valued at USD 66.15 Billion in 2023, and is Projected to Reach USD 119.08 Billion by 2032, Growing at a CAGR of 6.75% From 2024-2032.
Long-distance transportation of natural gasoline, advanced petroleum merchandise, and easy oil depends on oil and gas pipes. Because they're fabricated from metallic, plastic, or composite materials, they could assault detrimental environments and excessive pressure. They are an important issue of the arena's electricity setup because they make it simpler for hydrocarbons to tour from production locations to plant life and distribution hubs. In the energy industry, oil and gas pipelines are vital components that allow the transportation of crude oil, herbal fuel, and subtle products from production places to refineries, distribution hubs, and very last purchasers. One of the main advantages of oil and fuel pipelines is their performance, which lets in for the lengthy-distance switch of heavy hydrocarbon hundreds with minimal loss or leakage. Also, as compared to other transportation options like vehicles or rail, pipelines provide a safe and dependable form of transportation that reduces the possibilities of spills, accidents, and environmental damage.
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Top Key Players:
· Edgen Murray (US)
· Zekelman Industries (US)
· National Oilwell Varco (NOV) (US)
· US Steel Corporation (U.S. Steel) (US)
· Wheatland Tube (US)
· American SpiralWeld Pipe Company (US)
· Tenaris (Luxembourg)
· ArcelorMittal (Luxembourg)
· Salzgitter AG (Germany)
· EUROPIPE Group (Germany)
· Evraz PLC (UK)
· Vallourec (France)
· Techint Group (Italy)
· Chelpipe Group (Russia)
· Hyundai Steel (South Korea)
· SeAH Steel Corporation (South Korea), and Other Major Players.
Market Dynamics and Influencing Factors Growth:
Drivers:
The most important cause of the worldwide growth in energy consumption is the call for for fuel and oil pipelines. As countries industrialize and become greater urbanized, green strength transportation turns into increasingly essential. Better materials, designs, and construction techniques are examples of technological advancements in pipelines that enhance pipeline dependability and protection while also promoting enterprise growth. The discovery and manufacturing of unconventional oil and fuel reserves, like shale and tight gas, which want giant pipeline infrastructure, will increase the want for oil and fuel pipes. In addition, government investment for energy infrastructure projects and the replacement of antiquated pipeline systems in wealthy international locations additionally make contributions to the industry's boom.
Opportunities:
With the rising importance on environmental sustainability and safety, the oil and gasoline pipe market has quite a few promise. Investment is interested in cloth advances that provide improved longevity and performance, which includes the development of corrosion-resistant metals and environmentally pleasant coatings. Growing economies, particularly those in Asia-Pacific and Africa, are making an investment closely inside the development of their strength infrastructure. This offers pipeline producers a outstanding deal of possibility. The growing fashion of using natural gas as a more environmentally friendly opportunity to coal and oil has raised the demand for gas pipelines. Businesses can take benefit of the evolving industry with the aid of implementing current technology for tracking and protection, including IoT and AI-powered solutions, which create new possibilities for reinforcing pipeline performance and safety.
Segmentation Analysis of Oil and Gas Pipes Market:
By Type
· Seamless Pipes
· Welded Pipes
· Submerged Arc Welded (SAW) Pipes
· Electric Resistance Welded (ERW) Pipes
By Material
· Carbon Steel
· Stainless Steel
· High-Density Polyethylene (HDPE)
· Polyvinyl Chloride (PVC)
By Application
· Onshore
· Offshore
· Downstream
· Midstream
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Key Industry Developments in the Oil and Gas Pipes Market:
In December 2023, ExxonMobil revealed a collaboration with Chevron Corporation to coalesce efforts in establishing a novel carbon capture and storage (CCS) initiative within the United States. This joint venture holds the promise of sparking a need for tailored pipelines dedicated to the conveyance of captured carbon dioxide.
In November 2023, Shell plc allied with Hyundai Heavy Industries (HHI) to pioneer an innovative breed of floating liquefied natural gas (FLNG) vessels. These pioneering vessels necessitate specialized piping systems meticulously crafted for the rigors of offshore environments, thereby potentially opening avenues for pipe manufacturers adept in this niche
By Region
· North America (U.S., Canada, Mexico)
· Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
· Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
· Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
· Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
· South America (Brazil, Argentina, Rest of SA)
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