Oil & Gas Pipeline Fabrication and Construction Market - Growth, Trends, and Forecast (2019 - 2024)
|発行||Mordor Intelligence LLP||商品コード||369327|
|出版日||ページ情報||英文 120 Pages
|石油・ガスパイプライン製造および建設の世界市場：成長率、動向および予測分析 Oil & Gas Pipeline Fabrication and Construction Market - Growth, Trends, and Forecast (2019 - 2024)|
|出版日: 2019年07月01日||ページ情報: 英文 120 Pages||
About 80% of the upcoming pipeline projects are expected to be for carrying gas, owing to the growing demand for an increasing share in energy consumption of gas. The global demand for natural gas is expected to increase by 1.6%, y-o-y, for the next five years, with consumption reaching almost 4,000 billion cubic meters (bcm) by 2022, up from 3,630 bcm in 2016. China is expected to account for 40% of this growth. By 2030, owing to factors, such as environmental benefits and quest for energy security in regions, such as Asia-Pacific, the consumption of natural gas is expected to witness the fastest growth among all fuel types. The lower cost in comparison to other fossil fuels type is expected to also supplement the demand for natural gas during the forecast period. The natural gas pipeline network is expected to grow in parallel to the increase in natural gas demand, which, in turn, is expected to positively impact the global oil & gas pipeline fabrication and construction market in coming years. However, delay in pipeline projects due to land and border disputes across several countries is likely to hinder the market growth during the forecast period.
Pipeline Expansion Projects Along with New Gas Pipeline Projects to Create Tremendous Business Opportunities
North America is one of the Major Demand Centres for Pipeline Fabrication Market
The record increase in production of oil and gas in the US has supplemented the demand for transportation of oil and gas, and in turn, demand for fabrication and construction services. Pipeline operators are adding pipelines, pumping and compression horsepower, reversing flow direction, and converting pipelines, in order to transport the increasing production.
Furthermore, access to cheap and reliable energy is considered vital to the growth of the US economy. In 2017, petroleum production in the United States was estimated to be over 15 million barrels per day and is projected to reach 18.6 million by 2040. Transporting these products in the most efficient and safest manner allows the production of domestic energy to flourish, while providing the US consumers access to affordable energy.
Pipeline is the most commonly used method for transporting oil and gas in the country. About 70% of the domestically produced petroleum products is expected to be transported by pipeline. There are currently 2.4 million miles of natural gas pipelines and 190,000 miles of liquid petroleum pipelines throughout the United States.
Overall, the region is poised to become one of the most demand creating market for pipeline fabrication in near future.
The global oil & gas pipeline fabrication and construction market is fragmented. Some of the major companies include Snelson Companies Inc., Bechtel Corporation, Pumpco Inc., and Barnard Construction Company, Inc.