Insights Into The Crude Oil Pipeline Transport Market’s Growth Opportunities Through 2023-2032 – Includes Crude Oil Pipeline Transport Market Share
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The increase in demand for oil and gas is likely to spur innovation in crude oil pipeline transport manufacturing, propelling the market during the forecast period.
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 global crude oil pipeline transport market size is expected to reach $92.92 billion in 2027 at a CAGR of 7.4%.
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Global Crude Oil Pipeline Transport Market Segments Include:
- By Pipeline Type: Gathering pipeline, Transmission pipeline, Distribution pipeline, Feeder pipeline
- By Solutions: Security Solutions, Automation and Control, Integrity and Tracking Solution, Network Communication Solutions, Other Solutions
- By Location of Deployment: Onshore, Offshore
- By Service: Consulting Services, Managed Services, Maintenance and Support
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global crude oil pipeline transport market in 2021.
Major Market Players in the crude oil pipeline transport market include ABB Ltd., Alcatel-Lucent Enterprise, Emerson Electric Co., TechnipFMC PLC, Schneider Electric SE, Environmental Systems Research Institute Inc. (ESRI), Rockwell Automation Inc.
Technological advances have emerged as a crucial trend that is gaining traction in the crude oil pipeline transport business. To increase their market position, major participants in the crude oil transport sector are focusing their efforts on developing novel technology. For example, in November 2021, Schneider Electric SE, a France-based oil pipeline company, partnered with Prisma Photonics, an Israel-based company that designs and manufactures fibre sensing for oil and gas infrastructure, to introduce the PrismaFlow, which incorporates real-time intelligence and precise monitoring to prevent accidental and malicious activity, enhancing efficiency and sustainability in energy transportation via pipelines and avoiding refuelling. PrismaFlow is a pipeline monitoring solution comprised of both hardware and software that reduces positive and negative false alarm rates dramatically when compared to existing fiber-sensing technology. PrismaFlow provides better event categorization and detection with less than 10m precision and can recognise numerous concurrent events without interference or crosstalk.
The Crude Oil Pipeline Transport Global Market Report 2023 provides a crude oil pipeline transport market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The crude oil pipeline transport market forecast analyzes crude oil pipeline transport market size, crude oil pipeline transport market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The long-distance transportation of crude oil by a network of pipes from close or distant oil wells to oil tankers is referred to as crude oil pipeline transport. It is the cheapest, safest, and most ecologically friendly way of transportation. Crude oil is a hydrocarbon combination that occurs naturally as a liquid and is utilised as a transportation fuel.
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