September 07, 2022 08:28 ET | Source: Research and Markets Research and Markets

Dublin, Sept. 07, 2022 (GLOBE NEWSWIRE) -- The "Pipeline Construction Market By Pipe Type, By Application, By End User: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering. The pipeline construction market size was valued at $45.7 billion in 2021, and is estimated to reach $73.1 billion by 2031, growing at a CAGR of 4.8% from 2022 to 2031.

Pipeline construction refers to a line of pipes, or channel or method to carry something from one place to another. Pipelines are needed to transport raw materials from the areas of production, which are sometimes very remote, to the refineries and chemical plants. It moves the finished products to gasoline terminals, natural gas power plants and other end users. There is a rapidly growing need for the safe and cost-effective transportation of hazardous chemicals and petroleum products; raise public awareness of the environmental impact of pipeline and their support in reducing GHG emissions; depletion of freshwater resources and government investment in wastewater treatment plants to treat wastewater reuse and reduce water pollution; importance to data management, information and communication technology development, and security management to protect pipeline transportation against sabotage and military raids in wartime.

Population growth has a positive effect on the growing demand for various daily products such as water, milk and petroleum products such as kerosene, diesel and gasoline, which are expected to generate potential opportunities for the pipeline construction market during the forecast period. Emergence of COVID-19 had a negative impact on the growth of the global market during this period. This impact is mostly attributed to shutdown of many manufacturing industries that led to decline of demand for Pipeline construction during this period.

The decrease in demand for many non-essential products and shut down of electrical, automotive, and other energy related industries has created a negative impact on the development of market. Halt in industrial activities and lockdown for several months affected the pipeline construction market share and the market is anticipated to witness a slow recovery during the forecast period. The increasing awareness among people regarding environment pollution caused by the conventional transportation of the fossil fuels and chemicals is a good opportunity for the market. Thus, the abovementioned factors are expected to have a great impact on the global pipeline construction market growth in the forecast period. Key players within the market are profiled in this report and their strategies are analyzed thoroughly, which help understand competitive outlook of the pipeline construction market opportunity. The global market is segmented on the basis of pipe type, application, end-user and region. On the basis of pipe type, the market is segmented into metallic and non-metallic. In 2021, the metallic segment accounted for the largest share of the overall market. On the basis of application, the market is categorized into liquid pipeline and gas pipeline. The gas pipeline segment held the largest market share of the pipeline construction market in 2021. Based on end-user, the market is segmented into oil & gas, water and wastewater, chemical, energy and others. The oil & gas segment held the largest market share in 2021. Asia-Pacific region dominated the market in 2021. Increase in investment in the power plant industry in Asia-Pacific is expected to reach1.5 trillion up to 2030, and is anticipated to boost the growth of the market. Many developing countries in Asia-Pacific have shifted their focus on developing a complete solution for chemical fertilizers, and power plant industry, which in turn, is anticipated to lead to the growth of the pipeline construction market.

For instance, in March 2020, India planned to invest $1.3 billion for improving the growth of the pharmaceutical industries. In addition, major players are offering stainless steel pipe for applications in industries such as power engineering, chemical, oil & gas technology, and others. Similarly, in June 2019, China increased its capital investment in crude oil exploration increased by 6.3% from 2020 to 2021.

The new investment is aimed to increase domestic production by 50% over the next five years. Moreover, major players such as Metal Forge India, Dee Piping System, and others are offering stainless steel and carbon steel pipes to the market. For instance, Metal Forge India offers stainless steel pipe with size ranging from 0.5" to 30". All such instances are expected to boost the growth of the pipeline construction market. Key Findings Of Study

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