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Almost every single nation is today’s world is extremely depending on oil & gas. Countries like the USA operates the world’s largest and advanced oil pipeline infrastructure. Most of the countries like the USA, OPEC nations, Russia, etc. are the major oil producer in the world and the main source of income of their economy is oil business. These nations also have strong oil pipeline infrastructure. The pipeline is important as they allow us to long-distance transportation of oil & gas from one place to another place easily.
Most of the countries have own extensive network of the pipeline. There are two types of oil pipeline: crude pipeline and product pipeline. The crude pipeline carries crude oil to refineries and product pipeline transport products such as gasoline, jet fuel, diesel, etc. from refineries to market. The oil pipeline made oil business easy not only across the country but also outside the country. The use of drag-reducing additives like polyethylene oxide protects the pipeline from corrosion which makes the oil pipeline more reliable.
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On the basis of the product, the global oil pipeline infrastructure market can be segmented into crude oil and petroleum product. Crude oil pipeline carries crude oil extracted from the onshore drilling and offshore drilling. Advantages associated with the crude oil pipeline it provides low operational cost, safe and efficient transportation. Most countries want to self-dependent in oil production so, growing investment towards exploration & production activities along with an increase in production tend to oil pipeline infrastructure market to grow.
Owing to the increase in demand for petroleum products like gasoline, diesel, kerosene, etc. from the industries and commercial facilities to enhance operational activities. This tends to improve in the distribution channel of petroleum products from refineries to the end-customers.
On the basis of Diameter, the global oil pipeline infrastructure market is segmented into less than 8 inches, 8-24 inches, and more than 24 inches. 8-24 inches’ oil pipeline is expected to dominate the market in the above segment. Owing to growth in investment exploration & production activities and government investment for the upgradation and expansion of the current pipeline network, which requires an 8-24 inches’ oil pipeline.
This range of pipeline is wide use as the trunk line that helps for long-distance transmission. On the basis of application, the global oil pipeline infrastructure market is segmented into onshore and offshore. Owing to the increase in investment exploration & production activities to discover hydrocarbon reserves inside the ground. The rapid development of industrial and commercial sector across the world which tend to increase in demand for petroleum products. Also, Improvement in international oil trade relationships among the countries will move towards infrastructure development for crude oil trade across the countries. This factor is expected to offshore oil pipeline infrastructure market to grow.
The factor that is expected to drive the growth of the global oil pipeline infrastructure market is the rapid growth of the economy of the world along with the growth of population and industries which flourished demand for energy. This resulted in replacement, expansion, and up-gradation of aging oil pipeline infrastructure in order to fulfill the huge upcoming oil demand. Growing demand for oil accelerated the international oil trade relationship among the countries resulting in an increase in demand for good pipeline infrastructure for import and export of crude oil.
Increase in investment in exploration & production activities to explore new oil reserve needs smooth transportation facility of crude oil. Also, the pipelines are the most convenient, efficient and economical mode of transportation of oil. It requires low energy for transportation and low maintenance required.
The factor that is expected to restrain the growth of the global oil pipeline infrastructure market is a huge investment, government documentation, and approval required for building infrastructure for an oil pipeline. In the underground pipeline, a problem can’t be easily detected and not easy to repair. Owing to geopolitical unrest among the countries it is difficult to build oil pipeline infrastructure between countries.
Some of the major companies in the global oil pipeline infrastructure market are Europipe, Gazprom, Enbridge, GAIL, APA Group, Chelpipe, Snam Rete, CRC Evans Pipeline, Redexis, General Electric, Technip, Perusahaan Gas Negara, MRC Global, Saipem, DCP Midstream, National Oilwell Varco, Engages and Welspun.
· Crude Oil
· Petroleum Product
· Less than 8 inches
· 8-24 inches
· More than 24 inches
· North America (the USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico, and Rest of Latin America)
· Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)
The global oil pipeline infrastructure market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In North America, advancement in technology to increase oil production and an increase in investment for discoveries of new oil production field. The USA is the world largest oil & gas producer along with US Shale revolution boom the oil & gas production, operational efficiencies, and technologies. The evolution of energy demand and price outlook has transformed the oil & gas industry which resulted in more government investment for the up-gradation of oil & gas infrastructure. In the Asia Pacific, India and China are the major oil importer and consumer country. India is one of the largest importers of crude oil but it also one of the largest exporter of refined oil to countries like Bangladesh. The recent agreement between India and Bangladesh for oil pipeline construction which will create a requirement for building oil pipeline infrastructure. In the Middle East & Africa, the Middle East is one of the major producer and exporter of oil all over the world. Most of the oil-consuming countries depend on Middle Eastern oil, these resulted in oil companies are investing in building infrastructure like refineries, oil pipeline, etc. to fulfill oil demand.