North America Virtual Pipeline Equipment Market Size and Forecast 2021 - 2031, Country Share, Trend and Growth Opportunity Analysis Report Coverage: By Type, Gas and Application and Country

The North America virtual pipeline equipment market size is projected to reach US$ 867.92 million by 2031 from US$ 463.34 million in 2023. The market is expected to register a CAGR of 8.2% during 2023-2031.

The North America virtual pipeline equipment market is segmented into equipment type, gas, and application. Based on equipment type, the market is divided into decompression units, compression units, transportation units, and dispensing units. In terms of gas, the market is categorized into CNG, hydrogen, RNG, and others. By application, the market is divided into utility pipeline/pipeline repair, industrial, transportation, commercial & residential, and fracking.

Chesapeake Utilities Corp, Stabilis Solutions Inc, Algas-SDI International LLC, ANGI Energy Systems LLC, Broadwind Inc, Cobey Inc, Cryopeak LNG Solutions Corp, Galileo Technologies SA, Quantum Fuel Systems LLC, Hexagon Composites ASA, Kinder Morgan Inc, Xpress Natural Gas, LLC, Aggreko Ltd, Fiba Technologies Inc, CMD Alternative Energy Solutions, Plum Gas Solutions LLC, and Chart Industries Inc are among the key players operating the North America virtual pipeline equipment market.

According to the US Energy Information Administration Annual Energy Outlook 2023, all forms of energy consumption in the US are projected to increase from 0% to 15% between 2022 and 2050 due to population outbursts and economic growth. The energy sector in the US is majorly divided into four major end-use sectors - industrial, transportation, residential, and commercial. Energy consumption in the industrial sector is expected to rise by 5% to 32% from 2022 to 2050.

In the transportation sector, energy consumption is expected to fall by 10% between 2022 and 2050 or increase by 8%. Economic growth projections heavily influence both sectors; as the economy expands, more energy is consumed. Therefore, various market players are reaching out to virtual pipeline equipment providers to deliver oil and gas. For example, in May 2022, Quantum Fuel Systems (Quantum), a fully integrated alternative energy company, was selected by Certarus Ltd. ("Certarus") to deliver industry-leading virtual pipeline trailers for natural gas with a total value of ~US$ 22 million. The trailers were delivered in Q3 and Q4 2022.

Based on gas, the North America virtual pipeline equipment market has been segmented into CNG, hydrogen, RNG, and others. The CNG segment held the largest share in the North America virtual pipeline equipment market in 2023. Hydrogen gas can be transported through a virtual pipeline equipment. Transporting gaseous hydrogen through existing pipelines is a low-cost option to deliver large volumes of hydrogen. Further, rapidly expanding hydrogen delivery infrastructure to deliver pure hydrogen requires the reinforcement of natural gas infrastructure. The world is focused on decarbonization, which has led to the investment and focus on the production and supply of hydrogen. The continuous R&D in hydrogen and the rise in demand for hydrogen for applications such as hydrogen fuel cell vehicles would create opportunities for the increased trading activities of hydrogen in the coming years. This factor generates the demand for virtual pipeline equipment for the transportation of hydrogen. The North America virtual pipeline equipment market is experiencing growth as the region is one of the leaders in hydrogen production. According to Invest in Canada, Canada has one of the clean hydrogen facilities across the world, and the country is among the top 10 hydrogen producers worldwide. Increasing investments in hydrogen production is likely to create substantial opportunity for the segment during the forecast period. As to deliver the hydrogen to end consumers, there will be substantial demand for virtual pipeline equipment.

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