Crude Oil Pipeline Transport Global Market Report 2024

The crude oil pipeline transport market size has grown strongly in recent years. It will grow from $69.32 billion in 2023 to $74.47 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth observed in the historical period can be attributed to factors such as global energy demand and consumption, geopolitical considerations affecting oil supply chains, economic growth and industrialization, the stability and predictability of transportation costs, and strategic initiatives for energy security.

The crude oil pipeline transport market size is expected to see strong growth in the next few years. It will grow to $99.29 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The anticipated growth in the forecast period can be attributed to the sustained increase in global energy demand, the expansion of oil exploration and production, shifts in the dynamics of global oil trade, considerations related to environmental and regulatory factors, and investments in pipeline infrastructure projects. Significant trends expected in the forecast period include a focus on government regulations and compliance, the implementation of remote monitoring and control systems, the adoption of pipeline security measures, technological innovations in leak detection, and increased collaboration and partnerships within the industry.

The surge in the demand for oil and gas is poised to drive the growth of the crude oil pipeline transport market in the foreseeable future. Oil and gas, utilized as fossil fuels in liquid and gaseous forms respectively, play integral roles in various industries such as transportation, insulation, plastics, textiles, furniture, food production, and automation. Due to its perceived safety and cost-effectiveness in maintenance, pipeline transportation remains a widely favored method for transporting crude oil and gases from nearby or distant oil wells to storage facilities or tankers. For instance, in March 2023, the U.S. Energy Information Administration reported a rise in U.S. crude oil output, reaching 12.4 million barrels per day (b/d) in 2023 from the previous record of 11.7 million b/d in 2022. Additionally, the U.S. witnessed the highest annual consumption of natural gas in 2022, averaging 86.6 billion cubic feet per day (Bcf/d). Hence, the anticipated increase in oil and gas demand is expected to drive growth in the crude oil pipeline transportation market.

The increasing investment in infrastructure is projected to propel the expansion of the crude oil pipeline transport market in the coming years. Infrastructure denotes the foundational systems and structures necessary for the operation of a society, economy, or organization. In this context, crude oil pipelines serve as vital components of this evolving infrastructure, facilitating the reliable and environmentally advantageous transportation of significant oil volumes across extensive distances. For instance, in May 2023, the UK's Office for National Statistics noted a 15.2% increase in UK general government infrastructure spending in 2021, totaling $23.8 billion. This surge in infrastructure investment signifies a driving force behind the growth of the crude oil pipeline transport market.

Technological advancements have emerged as a significant trend garnering attention within the crude oil pipeline transport market. Key industry players are directing their focus towards developing innovative technologies to fortify their market positions. For instance, in November 2021, Schneider Electric SE, a France-based oil pipeline company, collaborated with Prisma Photonics, an Israel-based enterprise specializing in designing and producing fiber sensing systems for oil and gas infrastructure. This collaboration led to the introduction of PrismaFlow, a pipeline monitoring solution integrated with real-time intelligence and precise monitoring capabilities, aimed at averting accidental and malicious activities. PrismaFlow enhances efficiency and sustainability in energy transportation via pipelines, minimizing resource loss. This solution, comprising both hardware and software components, exhibits significantly reduced false alarm rates and precise event detection of less than 10 meters, surpassing other fiber-sensing technologies. Moreover, PrismaFlow offers improved event classification and detection, capable of recognizing multiple simultaneous events without interference or crosstalk.

Major entities operating in the crude oil pipeline transport sector are directing their efforts towards implementing robust pipeline monitoring systems to secure a competitive advantage within the market. These monitoring systems employ cutting-edge sensors and technology to consistently oversee and guarantee the integrity, safety, and efficient functioning of pipelines, preempting potential issues and averting incidents. For instance, in March 2023, Eni S.p.A., an Italy-based oil industry corporation, introduced the Eni Vibroacoustic Pipeline Monitoring System (E-VPMS). E-VPMS stands as a proprietary technology devised for continuous, real-time monitoring of oil and gas pipelines. Leveraging vibroacoustic wave detection, this system monitors fluid behavior within the pipeline and tracks acoustic waves along the pipe wall, utilizing multiple sensors strategically placed at distinct intervals along the pipeline. Particularly deployed at block valve stations for buried pipelines carrying crude oil, refined products, and injection water, E-VPMS is equipped with real-time alarms to swiftly alert operational teams of any incidents or events.

In December 2021, Energy Transfer LP, a US-based company primarily involved in natural gas and propane pipeline transportation, completed the acquisition of Enable Midstream Partners LP, the financial details of which remain undisclosed. This strategic move by Energy Transfer LP aims to enhance its midstream operations, fortify gas transportation systems, and augment its capacities in petroleum processing and collection across the United States. Enable Midstream Partners LP, the acquired entity, operates as a US-based pipeline enterprise, boasting assets in gathering, processing, transportation, and storage for natural gas, crude oil, condensate, and produced water. This acquisition reinforces Energy Transfer LP's foothold and infrastructure in the realm of pipeline transport and associated petroleum services within the US market.

Major companies operating in the crude oil pipeline transport market report are ABB Ltd., Alcatel-Lucent Enterprise, Emerson Electric Co., TechnipFMC PLC, Schneider Electric SE, Environmental Systems Research Institute Inc. (ESRI), Rockwell Automation Inc., Siemens Energy AG, Trimble Inc., Alstom SA, John Wood Group PLC, Tenaris S.A., TMK Group, ChelPipe Group, Huawei Technologies Co Ltd., Honeywell International Inc., TC Energy Corporation, Enbridge Inc., Kinder Morgan Inc., Magellan Midstream Partners LP, Phillips 66 Partners LP, Enterprise Products Partners LP, Marathon Petroleum Corp., Colonial Pipeline Co., Explorer Pipeline Co., Plains GP Holdings LP, Western Refining Logistics LP, Delek Logistics Partners LP, SemGroup Corp., Targa Resources Corp., Williams Cos. Inc., Dominion Energy Inc.

North America was the largest region in the crude oil pipeline transport market in 2023. Asia-Pacific is expected to be the fastest-growing region in the crude oil pipeline transport market report during the forecast period. The regions covered in the crude oil pipeline transport market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the crude oil pipeline transport market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of pipelines used in crude oil pipeline transport include gathering pipelines, transmission pipelines, distribution pipelines, and feeder pipelines. Gathering pipelines, also known as collecting pipelines, transport gases and liquids from the source of the resource, such as deep-sea rock formations, to processing plants, refineries, or transmission lines. These pipelines provide various solutions, including security solutions, automation and control systems, integrity and tracking solutions, network communication solutions, and others. They can be deployed in both onshore and offshore locations and encompass services such as consulting, managed services, and maintenance and support.

The crude oil pipeline transport market research report is one of a series of new reports that provides crude oil pipeline transport market statistics, including crude oil pipeline transport industry global market size, regional shares, competitors with a crude oil pipeline transport market share, detailed crude oil pipeline transport market segments, market trends and opportunities, and any further data you may need to thrive in the crude oil pipeline transport industry. This crude oil pipeline transport market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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