Major companies in the pipeline transport market include ABB Group; Alcatel-Lucent; Emerson Electric Co; FMC Technologies and Schneider Electric.
The global pipeline transport market is expected to grow from $170.76 billion in 2020 to $180.93 billion in 2021 at a compound annual growth rate (CAGR) of 6%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $262.31 billion in 2025 at a CAGR of 10%.
The pipeline transport market consists of sales of pipeline transportation services and related goods by entities (organizations, sole traders and partnerships) that use transmission pipelines to transport products, such as crude oil, natural gas, refined petroleum products, and slurry. The pipeline transport market is segmented into crude oil pipeline transport; natural gas pipeline transport; refined petroleum products pipeline transport and other pipeline transport.
Asia Pacific was the largest region in the global pipeline transport market, accounting for 29% of the market in 2020. North America was the second largest region accounting for 26% of the global pipeline transport market. Africa was the smallest region in the global pipeline transport market.
Pipeline transportation companies are using augmented reality for efficient maintenance operations. Augmented reality (AR) is the technology of combining real-world images, video, etc. with computer-generated information and/or imagery being viewed through an output including a monitor, headset, etc. AR overlays digital elements onto the physical world, typically using a headset or tablet that the user can point toward real-life objects. In the pipeline transportation industry, AR headsets that clip onto hard hats can project hands-free instructions a technician needs onto equipment to conduct an inspection or maintain a system. AR animations dramatically boost efficiency and reduce errors and uncertainty by showing the necessary steps, tools, and parts.
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