Global Oil and Gas Pipeline Market Expected to Reach USD 3,980 Mn by the end of 2023.with an impressive CAGR of 8.4% from 2018 to 2023.

December 21 18:04 2018

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The report on “Global Oil and Gas Pipeline Market ” helps you to understand the market size, share, growth, trends, major companies performance data and market opportunities.

Global Oil and Gas Pipeline Market Overview:

The pipeline network is a transportation system used to move goods and materials. While some pipelines are built above ground, the majority of pipelines are buried underground. Because oil and gas pipelines are well concealed from the public, most individuals are unaware of the existence of the vast network of pipelines. There are two main categories of pipelines used to transport energy products they are petroleum pipelines and natural gas pipelines. Petroleum pipelines transport crude oil or natural gas liquids, and there are three main types of petroleum pipelines involved in this process are gathering systems, crude oil pipeline systems, and refined products pipelines systems. Natural gas pipelines transport natural gas from stationary facilities such as gas wells or import/export facilities, and deliver to a variety of locations, such as homes or directly to other export facilities. This process also involves three different types of pipelines they are gathering systems, transmission systems, and distribution systems.  The global Oil & Gas Pipeline Market size is expected to reach US$ 3,980 Mn by the end of 2023.with an impressive CAGR of over 8.4% from the forecast period 2018 to 2023.

 

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Global Oil and Gas Pipeline Market Drivers and Constraints:

The global oil and gas pipeline market increases rapidly due to the favorable market conditions and industry trends, which are caused by the drivers like increase in of extraction of oil and gas. The major factors responsible for driving the growth of this market include the energy demand growth across the globe, increase in the deep water activities, and increase in the export of the chemical products across the globe. Manufacturers are increasingly using oil and gas pipelines, and steel pipes for transporting the materials safely as it could be subject to the extreme temperature conditions and corrosive environment that leads to the improvement in the market. However, the market may face challenges due to the high operational and maintenance cost in the future.

 

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Global Oil and Gas Pipeline Market – Geographical Segmentation:

Geographically, Asia pacific is the largest supplier of oil and gas pipelines due to its high production growth. North America is the second largest market for this pipeline market due to the rapid customer base. Europe and Middle East will witness a major growth in the forecast period due to abundant extraction of oil and gas sectors.

Some of the Key Players Recorded in this Global Oil and Gas Pipeline Market report are:

Nippon Steel & Sumitomo Metal, Tenaris Inc., TMK Group, Shengli Oil & Gas Pipe Holdings Limited, United States Steel Corporation, OMK Steel Ltd, WELSPUN GROUP, JESCO, JFE Steel Corp., ArcelorMittal SA, etc.

 

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