; Pipeline and process services market size, share, forecast

Pipeline and Process Services Market

Pipeline and Process Services Market Size, Share, and Analysis, By Asset (Pipeline and Process), By Operation (Pre-Commissioning & Commissioning, Maintenance, and De-Commissioning), By End-User (Power Generation, Chemicals & Refined Products, Water & Wastewater, Oil & Gas, Others), and By Region (North America, Europe, Asia-Pacific, And Rest of the World) And Regional Forecast 2024-2034

Published on: Jan-2024
Report Code: FG EP 01824
No. of Pages: 170-350
Report Format: PDF

Pipeline and Process Services Market is anticipated to exhibit a Compound Annual Growth Rate (CAGR) of 5.6% during the forecast span from 2024 to 2034. In 2023, the market size was assessed at USD 3.8 billion and is projected to reach USD 6.9 billion by the completion of 2034.

Product Overview

Pipeline and Process Services (PPS) is an important element of the energy and utilities industry that includes advanced solutions for developing and maintaining pipelines or industrial operations. These services include pipeline cleaning, stability assessments, maintenance, among other things. They ensure that strict safety and environmental laws are followed during procedures in refineries, chemical plants, and industrial sites. Pipeline and Process services heavily depend on technicians who have expertise in the use of innovative technology such as smart pigging, robotics, and monitoring systems. Their knowledge assist in enhancing operating efficiency, safety, and reliability, enabling them to maintain infrastructure integrity and continuous flow of resources. Furthermore, PPS companies collaborate with energy firms to provide specific solutions to the complicated tasks of managing pipelines and industrial operations. Hence, these services are vital to preserve the infrastructure, avoid leaks, and improving operational performance.

Market Highlights

Pipeline and Process Services Market is projected to grow at a compound annual growth rate (CAGR) of 5.6% from 2024 to 2034

Pipeline and Process Services Market is anticipated to reach USD 6.9 billion during the forecast period, due to increasing global energy needs and the requirement for efficient fluid transportation networks. Developing countries which are rich in oil and gas, are contributing to a healthy market growth owing to continuous infrastructure development. Moreover, innovations in technologies such as smart pigging, monitoring systems, and robotics are improving operational efficiency, along with safety measures. Additionally, environmental restrictions are also an important growth element, highlighting the significance of services such as safety evaluation, maintenance, and repair. Besides, the competitiveness of this market is growing, which promotes collaborations and strategic partnerships among key industry players. Furthermore, the rising focus on predictive maintenance and data analytics improves PPS solutions by ensuring efficient operations and reduced downtime challenges. Therefore, the PPS market is anticipated for long-term expansion, driven by innovations in technology and global demand for dependable energy transportation networks.

Source: Fatpos Global

Pipeline and Process Services Market Segmentation

Pipeline Services segment will lead due to its critical role in fluid transmission and distribution

Based on Asset, the Pipeline and Process Services Market is divided into Pipeline Services and Process Services. The dominance of the pipeline service segment is owing to its indispensable role in maintaining important infrastructures for transporting essential resources. Pipelines are particularly crucial in the oil & gas sector, requiring regular inspection and maintenance to ensure their integrity and efficient operation. Additionally, strict adherence to safety and legal regulations necessitates a constant demand for these services. Moreover, technological improvements, including smart pigging and advanced monitoring systems, enhance the accuracy and efficacy of pipeline maintenance, significantly elevating its dependability. Therefore, this perpetual requirement to prevent fluid leakages and ensuing safety, solidifies the dominance of pipeline service segment.

Maintenance segment will gain popularity due to its capacity to generate revenue while also protecting infrastructure

By Operation, Pipeline and Process Services Market is segmented into Pre-Commissioning & Commissioning, Maintenance, and De-Commissioning. The maintenance segment is anticipated to lead the market due to its significance in safeguarding both the integrity and consistency of oil and gas infrastructure. Aging infrastructure requires regular maintenance to avoid issues such as safety hazards, environmental damage, and operational disruptions. Consequently, timely maintenance services mitigate these risks, ensuring safety and asset longevity. Additionally, improvements in pipelines have a substantial impact on flow rates and energy requirements. Clean pipes improve flow capacity and remove safety threats, which have a directly impact the revenue and profitability. Therefore, maintenance becomes essential for risk mitigation and sustained profitability in the oil and gas sector, making it a dominant segment within the market.

Source: Fatpos Global

Market Dynamics

Growth Drivers

Transition to Renewable Energy Will Open Up New Growth Opportunities

Rising adoption of renewable energy sources, such as wind and solar power, significantly impacts the Pipeline and Process Services market. Thus, establishing infrastructure for these alternative sources require advanced services such as pipeline construction, maintenance, and process optimization, which contributes to the growth of PPS market. Furthermore, these unique requirements challenge PPS providers to innovate and expand their service portfolio. Therefore, this shift fuels the demand for existing services and promotes the development of customized solutions to address the evolving needs of renewable energy infrastructure.

Development of Global Infrastructure Will Create New Development Paths

Expansion of worldwide infrastructure is an important component for the growth of PPS market. Rapid urbanization and industrialization in emerging economies is increasing the demand for fluid transportation, including water, gas, and oil. This increase requires the construction of additional pipelines, which increases the need for PPS. Furthermore, the old infrastructure in developed economies requires constant maintenance and improvements. Thus, this continuous need drives market expansion as companies actively seek effective and dependable solutions to protect these vital infrastructures. Therefore, the combination of increasing needs in emerging economies and maintenance requirements for existing infrastructure is contributing to the growth of pipeline and process service market.

Restraints

Financial and Budgetary Restraints Could Stop Market Growth

Budget limitations presents a major hurdle to the growth of Pipeline and Process Service (PPS) market. Economic uncertainties and limited finances can have a substantial impact on the investments in PPS industry. Besides, during financial crises or budget constraints within companies, the market observes an inclination to cut spending on vital services such as maintenance, inspection, and process improvement. Consequently, these factors directly impact the stability and growth potential of the PPS market. Furthermore, service providers face major challenges related to low expenditure and rising competition for limited budgets in an uncertain economic ecosystem. Hence, these limitations restrict the ability of PPS firms to expand their services and innovate new products, which limits the growth potential of pipeline and process service market.

Recent Developments

  • Halliburton introduced the NeoCem E+ and EnviraCem cement barrier systems in November 2022 to expand their line of high-performance reduced Portland cement systems, which include a 50% or more reduction in mass cement. Halliburton developed a new compact cement system to capitalize on the chemical and physical properties of specialist materials when mixed with cement used in zonal isolation.
  • Techfem revealed in November 2022 that it has been working on constructing cross-border hydrogen pipes. It provided a number of design packages as well as pre-project advisory services for distant high-pressure pure hydrogen transmission lines.
  • Halliburton launched the BrightStar resistivity service in November 2022, a revolutionary solution that reveals the path ahead of the drill bit to support confident drilling decisions. The BrightStar service comprises visualization technologies, data, and calculations to reduce operating risks in unknown surroundings and provide greater assurance in avoiding undesirable formation exits.
  • Techfem announced its intention to offer its knowledge to the Baltic Pipe Project built by Energinet and GAZ-SYSTEM S.A. as co-investors in June 2022. As part of the project, a new bi-directional pipeline infrastructure will be created, allowing shippers to transfer gas from Norway to other markets in Poland and Denmark.
  • Altus Intervention, a well-known international provider of well intervention services and down-hole oil and gas expertise with 40 years of industry experience, has announced that Baker Hughes will purchase it in March 2022.

Pipeline and Process Services Market

Key Players:

  • Schlumberger
  • Halliburton
  • Baker Hughes
  • SGS SA
  • Wood PLC
  • TechnipFMC
  • Weatherford International
  • National Oilwell Varco
  • MISTRAS Group
  • Aker Solutions
  • Emerson
  • Applus+
  • Intertek Group
  • Shawcor Ltd.
  • TÜV SÜD AG
  • Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)

Regional Analysis

Pipeline and Process Services Market is segmented based on regional analysis into five key regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America's leadership in the Pipeline and Process Services (PPS) market is due to its extensive pipeline networks, primarily in the US and Canada, which support the transport of oil and gas. Additionally, early adoption of advanced technologies such as smart monitoring systems and robotics improved the workflow efficiency of pipelines and necessitated the need for maintenance services. Moreover, the enormous oil and gas output in the region, due to the shale revolution, spurred the development of pipelines and simultaneously raised servicing requirements. Furthermore, continuous infrastructure investments further strengthens the position of North America in pipeline and process service market.

Source: Fatpos Global

Impact of Covid-19 on Pipeline and Process Services Market

Pipeline and Process Services (PPS) market witnessed a significant impact from the COVID-19 pandemic. Lockdowns and economic recession led to a major fall in energy demand, affecting industries which were dependent on oil, gas, and related resources. Additionally, various projects faced delays due to supply chains disruptions and financial limitations. Financial limitations forced companies to prioritize essential operations and reduce the allocation of financial resources on discretionary services such as pipeline and process services. However, despite these challenges, the industry rapid adapted and embraced remote monitoring technologies to mitigate disruptions. Hence, the pandemic initially had an impact on PPS demand due to low energy consumption and project delays, but it later prompted innovations in technology to accelerate the operational recovery.

Pipeline and Process Services Market is further segmented by region into:

  • North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
  • Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
  • Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
  • Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
  • Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA

Pipeline and Process Services Market Scope and Segments:

ATTRIBUTE

  DETAILS

Study Period

2018-2034

Base Year

2023

Forecast Period

2024-2034

Historical Period

2019-2022

Growth Rate

CAGR of 5.6% from 2024-2034

Unit

Value (USD Billion)

Segmentation

Main Segments List

By Asset

  • Pipeline
  • Process

By Operation

  • Pre-Commissioning & Commissioning
  • Maintenance
  • De-Commissioning

By End-User

  • Power Generation
  • Chemicals & Refined Products
  • Water & Wastewater
  • Oil & Gas
  • Others

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Frequently Asked Questions (FAQ):

Pipeline and Process Services Market size was values at USD 3.8 billion in 2023 and is projected to reach the value of USD 6.9 billion in 2034, exhibiting a CAGR of 5.6% during the forecast period.

The Pipeline and Process Services (PPS) market specializes in maintaining pipelines and industrial processes for efficient oil, gas, and fluid transportation. It ensures safety, compliance, and optimal operations through inspection, maintenance, and support services, employing advanced technology for reliability and efficiency.

The Pipeline Services segment and the Maintenance segment accounted for the largest Pipeline and Process Services Market share.

Key players in the Pipeline and Process Services Market include Schlumberger, Halliburton, Baker Hughes, SGS SA, TechnipFMC, Weatherford International, National Oilwell Varco, Wood PLC, MISTRAS Group, Aker Solutions, Emerson, Applus+, Intertek Group, Shawcor Ltd., TÜV SÜD AG, and Other Prominent Players.

Transition to renewable energy and development of global infrastructure are the factors driving the pipeline and process services market.

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