Europe Oil and Gas Pipeline Market to be Dominated by Onshore Segment in the Forecast Period
Growing technological
advancements in the oil & gas and Increasing demand for crude oil and
natural gas.
According to
TechSci Research report Europe Oil & Gas Pipeline Market - By Region, Competition
Forecast & Opportunities, 2018-2028, The
Europe Oil & Gas Pipeline Market is expected to register robust growth during the forecast period,
2024-2028.
In 2020, natural gas consumption reached 3,822.8
billion cubic metres (bcm), mostly due to rising demand for the fuel across a
variety of sectors, including transportation and power generation. The
infrastructure for gas pipelines is set to grow greatly because of this trend,
which is predicted to last for the foreseeable future.
Additionally, the oil and gas sectors
continued technical advancement bringing significant developments that can turn
into quick and safe movement of oil and gas. Gas from stationary engines is
moved through natural gas pipelines to various sites, such as houses or export
facilities. The natural gas assembly system assembles the raw material from
manufacturing wells, and then deliver it via large transmission pipelines from
equipment to ports and purifiers. This process also involves assembly systems.
The use of natural gas is expected to
increase to around 4,250 billion cubic metres by 2029, a 1.6% increase in
demand over the next few years. As a result, it is predicted that the natural
gas pipeline network will expand in tandem with the rise in natural gas demand.
The use of natural gas is predicted to rise the fastest among all fuel types by
2030 due to factors including environmental benefits and the need for energy
security, which is predicted to boost the pipeline industry. Natural gas is
traded internationally as there is increasing demand for transport and storage
due to the extraction of resources like shale deposits and rising cost
pressure.
Browse over XX market data Figures spread
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The
Europe Oil & Gas Pipeline Market is divided into type, application, and
source. Based on type, the market is divided into crude oil pipeline and
natural gas pipeline. Based on application, the market is divided into onshore
and offshore. Based on sector, the market is divided into upstream, midstream, and
downstream. Based on country, the market is divided into Germany, United
Kingdom, France, Italy, Spain, and rest of Europe.
Based on type, the
market is divided into crude oil pipeline and natural gas pipeline. Due to rising demand for natural gas across several
industries, including power generation and transportation, natural gas
consumption climbed noticeably, reaching 3,822.8 billion cubic metres in 2020.
The infrastructure for gas pipelines is set to grow greatly because of this
trend, which is predicted to last for the foreseeable future. The demand for
natural gas is anticipated to experience the largest increase of all fuel types
by 2030 because of the advantages to the environment and the need for energy
security. By exporting 197.2 trillion cubic metres of gas annually in 2020,
Russia remained the world's biggest LNG exporter. The discovery of new
natural gas sources, including shale gas reserves, and the pressure on prices
that follows are expanding the global market for natural gas. Therefore, it is
anticipated that during the projected period, these changes will increase
demand for pipeline network growth.
Based on source, the
market is segmented into upstream, midstream, and downstream. Due to the
increased emphasis on asset management, the upstream application category will
experience significant growth during the projection period. It supports risk
management, efficient use of resources, lower maintenance costs, and fewer
safety incidents. To enhance their daily production and drilling operations,
businesses use machine learning, advanced AI, and predictive analysis.
Significant operational advancements will be made due to their application in
planning, forecasting, and asset management.
Major market players in the Europe Oil & Gas Pipeline Market are: -
- Saipem S.p.A.
- Subsea 7
- McDermott
International, Ltd,
- John Wood Group
PLC
- TechnipFMC plc
- Sapura Energy
Berhad
- British Petroleum
p.l.c.
- Royal Dutch Shell
plc
- Tenaris S.A.
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“The market share will be fueled by oil and gas firms
investing more in digital technologies to increase worker productivity. The
O&G industry has considerable advancements in analytical applications,
along with an increasing emphasis on reservoirs and production optimization, which
will propel market expansion for
the market, expected to grow in the future."
said Mr. Karan Chechi, Research Director with TechSci Research, a research-based
India management consulting firm.
Europe Oil & Gas Pipeline Market– By Type (Scheduled,
Unscheduled), By Application (Onshore and Offshore), By Source (Upstream,
Midstream, Downstream), Region, Industry Size, Share, Trends, Opportunity, and
Forecast, 2018-2028 has evaluated the future
growth potential of Europe Oil & Gas
Pipeline Market and provides statistics
& information on market size, structure, and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities
Europe Oil & Gas Pipeline Market.
Contact
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