DUBLIN--(BUSINESS WIRE)--The "Pipeline & Process Services Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.

The global pipeline & process services market is projected to have a compound annual growth rate of 5.15%, from US$2.817 billion in 2019 to US$4.004 billion in 2026.

The market of pipeline & process services is expected to drive by increasing demand for natural gas & crude oil (mainly, from Asia Pacific), by increasing investments in the infrastructural developments and by increasing need for connectivity drive. The growth of the pipeline and process services market is restrained by the increasing demand and uses of the renewable sources of energy, and technical and political instability problems by cross border projects in Middle East and Asia Pacific regions.

By asset type, the pipeline and process services market are segmented by process and pipeline, where process segment is expected to have the significant growth in the forecast period majorly for pre-commissioning operations in Middle East, North Africa, and Asia Pacific regions, while the pipeline segment account for the significant market share and is also projected to have a potential growth in the forecast period. Pipeline segment is more demanding in the coming future due to the convenient transportation of the products, such as oil & gas, and so on. Pipelines are generally made of carbon steel, steel, and plastic cylinders. In short term, North America is expected to have the highest growth in the pipeline and process services, whereas, Middle East and Africa is having a potential to grow in the forecast period due to increasing demand for LNG vessels.

The pipeline sector is further segmented into transmission and distribution, where distribution is having the largest market share. The process sector is segmented into FPS, Refinery & Petrochemical, Gas Storage & Processing. The market by operations is segmented by pre-commissioning, commissioning, decommissioning, Maintenance, and others. Among them, the significant share of the market is accounted by pre-commissioning and commissioning segments. The driving force for the growth of this segment is the higher volume of activities of gas processing and pre-commissioning in Middle East and North Africa region, and that of refinery activities in Asia Pacific region.

Companies Mentioned

• Halliburton
• BHGE
• Enermech
• IKM
• Hydratight
• Techfem S.P.A.
• Altus Intervention
• Bluefin Group
• Chenergy Services
• IPEC
• Trans Asia Pipelines
• Schlumberger Pipeline Services Ltd
• Aramco Services Co.
• Anabeeb Arabian Pipeline & Services Co Ltd

COVID-19 Impact

The COVID-19 has impacted the pipeline and process services market severely, as due to lock-downs the supply for the products which use the pipeline and process services, such as oil, natural gas, and so on has impacted adversely. In turn, it has also impacted the production activities in the manufacturing sector. This led to fall in the prices of the End-user's products such as oil & gas, chemicals, natural gas, and so on. After lockdowns, the economies and the growth of the market is stabilizing and gaining a positive growth. Though, due to increasing preferences for the renewable sources, the growth in this market is expected to be positive for the short-term. Although, from the recent stability and growing developmental projects will bring the growth in the pipeline and process services market. This implies that as long as there are developmental projects and construction projects, the pipeline and process services market will have a potential growth, mainly in natural gas and oil sectors

Key Topics Covered:

1. Introduction

2. Research Methodology

3. Executive Summary

4. Market Dynamics

4.1. Market Drivers

4.2. Market Restraints

4.3. Porters Five Forces Analysis

4.4. Industry Value Chain Analysis

5. Global Pipeline & Process Services Market Analysis, By Asset type

5.1. Introduction

5.2. Pipeline

5.3. Process

6. Global Pipeline & Process Services Market Analysis, By Operations

6.1. Introduction

6.2. Commissioning

6.3. Decommissioning/Troubleshooting

6.4. Maintenance

6.5. Others

7. Global Pipeline & Process Services Market Analysis, By Location of Deployment

7.1. Introduction

7.2. Offshore

7.3. Onshore

8. Global Pipeline & Process Services Market Analysis, By End-users

8.1. Introduction

8.2. Power generation

8.3. Chemicals & Refined products

8.4. Water & wastewater

8.5. Oil & Gas

8.6. Others

9. Global Pipeline & Process Services Market Analysis, by Geography

10. Competitive Environment and Analysis

10.1. Major Players and Strategy Analysis

10.2. Emerging Players and Market Lucrativeness

10.3. Mergers, Acquisitions, Agreements, and Collaborations

10.4. Vendor Competitiveness Matrix

11. Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/vbmgh3

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