According to a MarketsandMarkets study, the global oil pipeline infrastructure market is projected to reach USD 142 billion by 2026. The oil pipeline market is significantly influenced by global trade, with rising vehicle ownership and increased fuel demand. Global trade is driving the construction of oil pipeline infrastructure. Countries in the Middle East, such as Saudi Arabia, Iran, and Iraq, which are rich in oil resources, are heavily investing in the construction of oil pipelines and other infrastructure to facilitate exports to other countries, creating significant opportunities for the oil pipeline market.
Furthermore, with the increasing demand for oil transportation and long-distance oil supply, this will stimulate the growth of the pipeline market in the coming years. In addition, the large-scale maintenance and replacement projects required for aging oil and gas pipeline infrastructure will also drive the overall pipeline market. However, it is worth noting that strict environmental and safety regulations will have a certain inhibitory effect on the development of the pipeline market.
"Continuous improvement technologies related to flow rate and flow volume are gradually becoming a key driver of growth in the oil pipeline market. Furthermore, industrial cooperation is further stimulating regional market growth. For example, in North America, a large number of airports require pipeline systems for aviation fuel supply, which is driving significant growth in the oil pipeline market in the region. Analysis indicates that North America is expected to exhibit the most significant growth in the global oil pipeline market between 2020 and 2026."
The major companies involved in the global oil pipeline market include: Kinder Morgan (USA), Welspun Group (India), Sinopec (China), Rosneft (Russia), CRC Group (USA), PetroChina (China), Chelpipe Group (Russia), Petrobras (Brazil), Trans Canada Pipeline (Canada), Europipe (Germany), Jindal Group (India), Athabasca Energy (Canada), Baker Hughes (USA), Pembina Pipeline (Canada), and others.
Article sourced from: Coatings Industry