Pipeline and Process Services Global Market Report 2024

The global pipeline and process services market has grown strongly in recent years. It will grow from $3.78 billion in 2023 to $4.02 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth observed in the historic period was primarily driven by factors such as the revitalization of infrastructure, the globalized nature of energy trade, changes in energy origins, economic influences, and expansions in infrastructure development.

The global pipeline and process services market is expected to see strong growth in the next few years. It will grow to $5.2 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. Anticipated growth in the forecast period is set to stem from factors like enhanced efficiency and cost-effectiveness, the augmentation of water infrastructure services, geopolitical dynamics, rising global energy demands, and the evolution of smart infrastructure projects. Key trends expected in this period encompass the energy transition, prioritization of maintenance and integrity, the integration of automation and digitalization, advancements in pipeline expansion initiatives, and compliance with environmental regulations.

The projected upsurge in the pipeline and process services market is primed to stem from the escalating demand for oil and natural gas. These vital energy resources are derived from fossil fuels formed over millions of years and necessitate ongoing pipeline and process services for seamless transportation. For instance, India's oil demand is forecasted to double, reaching 11 million barrels per day by 2045, as per data from the India Brand Equity Foundation (IBEF). This burgeoning demand for oil and natural gas is a driving force behind the growth of the pipeline and process services market.

The impending growth in the pipeline and process services market is anticipated to be propelled by the burgeoning manufacturing industry. This sector, integral to the economy, involves the production of goods through various transformative processes. Pipeline and process services within manufacturing promise efficiency enhancements, cost economies, heightened safety, and compliance with quality and environmental standards. Notably, global manufacturing production saw a substantial rise of 9.4% in 2021, as reported by the United Nations Industrial Development Organization. Consequently, the burgeoning manufacturing industry is fueling the expansion of the pipeline and process services market.

Innovation stands out as a crucial trend shaping the landscape of the pipeline and process services market. Leading companies are spearheading the development of cutting-edge technologies like artificial intelligence, fast digital imaging, in-line robot inspections, magnetic flux leakage (MFL), and ultrasonic testing (UT). For instance, in September 2022, Thailand-based Dacon Pipeline Services introduced a 3” multi-channel ultrasonic pipeline inspection tool. This innovative device harnesses continuous measurements at brief intervals to produce high-resolution pipeline images, enhancing inspection precision.

Major companies within the pipeline and process services sector are prioritizing innovation by launching groundbreaking products such as the NeoCem E+ and EnviraCem cement barrier systems to bolster their market presence. These systems, offering significant reductions in cement mass, capitalize on material synergies to enhance zonal isolation. Halliburton Company, for instance, introduced NeoCem E+ and EnviraCem cement barrier systems in November 2022. These systems deliver superior compressive strength and ductility at a lower density than standard systems, ensuring heightened wellbore integrity and reduced carbon emissions.

In August 2022, Pipeline Technique, a distinguished UK-based firm specializing in welding, coating, and cutting-edge engineering for onshore and offshore infrastructure, successfully acquired Stanley's oil and gas division. The undisclosed transaction aimed to position Pipeline Technique as a frontrunner in welding, coating, and technical engineering while expanding its market presence, particularly in Brazil. Stanley Oil and Gas, a reputable US-based provider renowned for its pipeline services and cutting-edge equipment, presented Pipeline Technique with an opportunity to fortify its position in the industry and broaden its clientele.

Major companies operating in the pipeline and process services market report are Halliburton Company, Baker Hughes Company, EnerMech Ltd., IKM Gruppen AS, Altus Intervention, Ideh Pouyan Energy Co, Trans Asia Pipeline Services, Techfem Spa, Enerpac Tool Group, STEP Energy Services, Chenergy Services Limited, CR Asia Group, Eunisell Limited, Alphaden Energy and Oilfield Limited, Cypress Pipeline & Process Services, Hydratight, Blue Fin Group, Tucker Energy Services, IPEC Ltd., Barnard Construction Company Inc., Sunland Construction Inc., Snelson Companies Inc., STATS Group, Intertek Group PLC, Oil States Industries Inc., T.D. Williamson, MISTRAS Group Inc., Shawcor Ltd., Schlumberger Limited, Weatherford International

North America was the largest region in the pipeline and process services market share in 2023. The regions covered in the pipeline and process services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the pipeline and process services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Within the realm of pipeline and process services, operations can be categorized into pre-commissioning, commissioning, maintenance, and decommissioning. Pre-commissioning activities focus on verifying the operational readiness of each system component before commissioning starts. The commissioning phase initiates the live operation of the pipeline, adding the product into the system, while ensuring that all construction adheres to safety standards. Assets involved predominantly include pipeline and process components, using materials like plastic, carbon steel, and steel. End-users span across industries including oil and gas, chemicals, water treatment, construction, manufacturing, among others.

This report provides pipeline and process services market statistics, including pipeline and process services industry global market size, regional shares, competitors with an pipeline and process services market share, detailed pipeline and process services market segments, market trends and opportunities, and any further data you may need to thrive in the pipeline and process services industry. This pipeline and process services 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 pipeline and process services market includes revenues earned by entities by flow remediation, nitrogen services, pipe freezing, bolting and tensioning and flange management, chemical cleaning, refinery and petrochemical facility management, FPS management, gas processing, and gas storage. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

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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