What Are The 5 Top Insights From The Pipeline And Process Services Market Forecast 2024

March 12, 2024 by The Business Research Company

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Pipeline And Process Services Global Market Report 2024, the pipeline and process services market is expected to show significant growth in the forecast period.

Market Overview: The pipeline and process services market has witnessed significant growth in recent years, with a promising outlook for the future.
Historic Growth Factors: The growth in the historic period can be attributed to various factors such as infrastructure rehabilitation, globalization of energy trade, shifts in energy sources, and economic factors.
Future Projections: Forecasts suggest continued growth, with the market expected to reach $5.2 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%.
Forecast Growth Drivers: Anticipated growth drivers include efficiency and cost reduction, water infrastructure services, geopolitical factors, increasing global energy demand, and smart infrastructure development.
Major Trends: Energy transition, maintenance and integrity, automation and digitalization, pipeline expansion projects, and environmental regulations are among the major trends shaping the forecast period.

Cutting Edge Innovations Transforming The Pipeline And Process Services Market

Technological Advancements: Significant innovations are occurring within the pipeline and process services market, driven by major companies investing in artificial intelligence, fast digital imaging, in-line robot inspections, magnetic flux leakage (MFL), and ultrasonic testing (UT).
Case Study: The example of Dacon Pipeline Services illustrates the deployment of advanced technology in pipeline inspections, enhancing efficiency and accuracy.

Pipeline Technique Strengthens Global Presence With Strategic Acquisition Of Stanley’s Oil And Gas Division

Strategic Acquisition: In August 2022, Pipeline Technique acquired Stanley’s oil and gas division, aiming to solidify its position in welding, coating, and technical engineering for onshore and offshore infrastructure.
Motivation Behind Acquisition: The move not only enhances Pipeline Technique’s capabilities but also expands its clientele, particularly in regions like Brazil.

Market Segmentation and Regional Analysis

Segmentation Overview: The pipeline and process services market is segmented by operation (pre-commissioning and commissioning, maintenance, decommissioning), asset type (pipeline, process), raw material (plastic, carbon steel, steel), and end-users (oil and gas industry, chemical industry, water treatment industry, construction and manufacturing industry, others).
Regional Insights: North America emerged as the largest region in the pipeline and process services market in 2023, reflecting the robust nature of the industry in this region.

View More On The Pipeline And Process Services Market Report 2024 – https://www.thebusinessresearchcompany.com/report/pipeline-and-process-services-global-market-report

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The Pipeline And Process Services Global Market Report 2024 provides an in-depth analysis on the pipeline and process services market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the pipeline and process services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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