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What Are The Market Size Estimates For The Crude Oil Pipeline Transport Market?

The market for transporting crude oil via pipelines has experienced significant development over recent years. It is projected to expand from a value of $67.8 billion in 2024 to $72.93 billion in 2025, reflecting a compound annual growth rate (CAGR) of 7.6%. The growth witnessed in the previous period was driven by factors such as increased worldwide energy needs and consumption, geopolitical influences and oil supply chains, economic progress and industrial expansion, steady and foreseeable transportation expenses, and initiatives focused on strategic energy security.

The market size for crude oil pipeline transport is anticipated to witness substantial growth in the forthcoming years, reaching a total worth of $97.73 billion by 2029, growing at a compound annual growth rate (CAGR) of 7.6%. The surge predicted in the upcoming time span can be traced back to the escalating global energy demand, amplified oil exploration and production, alterations in international oil trade structures, environmental and regulatory factors, along with investments in pipeline development initiatives. Significant trends for the projected period involve government regulations and compliance, remote oversight and control systems, enhanced pipeline safety protocols, technological advancements in detecting leaks, in addition to cooperation and partnerships within the sector.

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What Drivers Are Accelerating Expansion Of The Crude Oil Pipeline Transport Market?

The anticipated increase in oil and gas demand is predicted to drive the growth of the crude oil pipeline transport industry. Liquid and gaseous fossil fuels, such as oil and gas, are utilized in a wide variety of sectors, including transportation, insulation, plastic, clothing, furniture, food, and automation. Pipeline transportation, due to its safety and affordability, has become one of the most popular methods for transporting crude oil and gases from local or distant oil wells to oil tankers. The US Energy Information Administration, a federal statistical system in the US collecting, processing, and disseminating energy data, stated in March 2023 that there will be a growth in U.S. crude oil production to 12.4 million b/d in 2023, an increase from the record high of 11.7 million b/d in 2022. Additionally, in September 2022, the US noted its highest annual consumption of natural gas, with an intake averaging 86.6 billion cubic feet per day (Bcf/d) in 2022, a notable increase from the previous year. Therefore, the expected rise in oil and gas demand is set to boost the progression of the crude oil pipeline transport market.

What Are The Key Segment Trends Observed In The Crude Oil Pipeline Transport Market?

The crude oil pipeline transportmarket covered in this report is segmented –

1) By Pipeline Type: Gathering pipeline, Transmission pipeline, Distribution pipeline, Feeder pipeline

2) By Solutions: Security Solutions, Automation And Control, Integrity And Tracking Solution, Network Communication Solutions, Other Solutions

3) By Location Of Deployment: Onshore, Offshore

4) By Service: Consulting Services, Managed Services, Maintenance And Support

Subsegments:

1) By Gathering Pipeline: Onshore Gathering Pipelines, Offshore Gathering Pipelines

2) By Transmission Pipeline: Long-Distance Transmission Pipelines, High-Pressure Transmission Pipelines

3) By Distribution Pipeline: Urban Distribution Pipelines, Rural Distribution Pipelines

4) By Feeder Pipeline: Short-Distance Feeder Pipelines, Regional Feeder Pipelines

Which Disruptive Trends Are Driving Change Across The Crude Oil Pipeline Transport Market?

Leading firms in the crude oil pipeline transportation market are incorporating advanced technologies, like the Industrial Internet of Things (IIoT), to amplify operational effectiveness, safety, and supply chain management optimization. These IIoT technologies facilitate real-time observation of machinery, pipelines, and loads, enabling predictive maintenance, reduced idle time, and boosted automation in crude oil logistics. In August 2024, Henkel, an industry solutions enterprise based in Germany, introduced two advanced monitoring solutions, Smart Rotating Equipment Monitoring and Smart Pipes and Tanks Leak Detection. These solutions significantly improve industrial safety and efficiency, particularly in the oil and gas industry. The Smart Pipe and Tank system is programmed for detecting hydrocarbon leaks in the early stages. This advanced monitoring solution tackles key environmental risks tied to pipeline and tank leaks, which could potentially cause water pollution and fire hazards. Smart Rotating Equipment Monitoring features a six-in-one sensor that enables simultaneous tracking of six crucial data points, such as vibration, magnetic flux, and acoustic emissions. This feature simplifies the monitoring process, ensuring better performance and accuracy for essential machinery like pumps, motors, and gearboxes.

Who Are The Major Stakeholders Operating In The Crude Oil Pipeline Transport Market?

Major companies operating in the crude oil pipeline transport market include ABB Ltd., Emerson Electric Co., TechnipFMC PLC, Schneider Electric SE, Environmental Systems Research Institute Inc. (ESRI), Rockwell Automation Inc., Siemens Energy AG, Trimble Inc., John Wood Group PLC, Tenaris S.A., TMK Group, ChelPipe Group, Huawei Technologies Co Ltd., Honeywell International Inc., TC Energy Corporation, Enbridge Inc., Kinder Morgan Inc., Magellan Midstream Partners LP, Phillips 66 Partners LP, Enterprise Products Partners LP, Marathon Petroleum Corp., Colonial Pipeline Co., Explorer Pipeline Co., Plains GP Holdings LP, Western Refining Logistics LP, Delek Logistics Partners LP, SemGroup Corp., Targa Resources Corp., Williams Cos. Inc., Dominion Energy Inc.

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What Regional Factors Are Accelerating Growth In The Crude Oil Pipeline Transport Market?

North America was the largest region in the crude oil pipeline transport market in 2024. Asia-Pacific is expected to be the fastest-growing region in the crude oil pipeline transport market report during the forecast period. The regions covered in the crude oil pipeline transport market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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