The data experts at Market Research Future Reports (MRFR) have analyzed the global oil & gas pipeline market is estimated to thrive at a CAGR of 5.40% during the review period. The burgeoning technical advancement in the oil and gas industry is predicted to bring revolutionary changes and drive the global oil and gas pipeline market 2020. The emerging technologies like the Internet of Things (IoT) have led to an advance the global market. The report also highlights the impact of stringent rules implemented and practiced by the various government are another factor augmenting the market. Besides, the growing usage of gas pipelines in residential and commercial applications is another element leading to the strengthening of the market. The market is estimated to soar during the forecast period, especially in developing countries. The demand is surging due to the fast-developing urbanization. These elements are estimated to augment the market generously.
However, the disruption of COVID-19 on the global oil & gas pipeline is projected to affect the market considerably. The markets of various regions have been shut down temporarily to contain the spread of disease. The data experts at MRFR are evaluating the market to understand the factors that would impede and augment the market. We will provide an impact analysis report on COVID-19.
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Key Players
The established players of the global oil & gas pipeline market are China National Petroleum Corporation, Gazprom, Chevron Corporation, Tenaris S.A., ConocoPhillips, TMK, National Oilwell Varco, General Electric, Maharashtra Seamless Ltd, Saipem S.p.A, TechnipFMC, EVRAZ North America, Subsea 7 S.A, Welspun Corp Ltd., Chelpipe, Europipe, Eni S.p.A, and Royal Dutch Shell p.l.c., and a few more.
Market Segmentation
The global oil & gas pipeline market can be distinguished on the basis of application, type, sector, and region.
On the basis of application, the global oil & gas pipeline market can be distinguished into offshore and onshore.
On the basis of type, the global oil & gas pipeline market can be distinguished into flowlines, transmission pipelines, pipelines, distribution pipelines, and feeder pipelines.
On the basis of sector, the global oil & gas pipeline market can be distinguished into midstream, upstream, and downstream.
On the basis of region, the global oil & gas pipeline market can be distinguished into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
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Regional Analysis
The global market for oil & gas pipeline is projected to be lucrative during the assessment period. On the basis of geography, the market has been distinguished into North America, Europe, Asia-Pacific, and the RoW. As per the studies, the global market is projected to be reigned by North America. In 2017, North America acquired the largest market share. The region has revamped itself into a significant gas exporter by converting LNG import terminals into export ports and beginning a new gas pipeline for exporting the natural gas to Mexico. The shale gas has revolutionized the North American natural gas market from the past few years. The APAC region is projected to expand generously during the review period.
However, the market dynamics is estimated to vary slightly due to the unforeseen spread of coronavirus. Several regions practiced lockdown to curb the spread of COVID-19. The lockdown has brought grievous results to the business. It has affected the manufacture and supply chains, thereby brining an impact on the revenue generation. The data analysts at MRFR estimate that it will take some time to recover from the losses incurred during the lockdown.
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