The U.S. oil pipeline infrastructure market is set to exceed the cumulative installation of 450 thousand km in 2018. Booming investment toward infrastructural development along with rapid advancement in drilling technologies will fuel the industry growth. The fields located in the North East U.S. and Texas across the Permian basin are anticipated to start production by 2019. In addition, increasing number of rigs on account of growing offshore funding across the U.S. will stimulate the construction of additional pipeline network.
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Oil Pipeline Infrastructure Market size will surpass USD 135 billion by 2025, as reported in the latest study by Global Market Insights, Inc.
Increasing investment toward exploration and production along with discoveries of various potential fields will foster the oil pipeline infrastructure market. Need to maintain energy security along with direct influence on GDP, employment generation and other macroeconomic indicators will complement the business landscape. In 2018, major oil discoveries were recorded across Guyana, the U.S., Cyprus, Norway and Oman in which majority of the fields across Cyprus and Guyana were made across ultra-deep waters.
Rapid globalization coupled with booming international trades will drive the oil pipeline infrastructure market growth. Increasing refurbishment projects owing to need to replace ageing infrastructure will proliferate the industry growth. Stringent environment policies along with protest from local activist group will impact the clearance of several pipeline projects.
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Rising exploration and production activities across subsea oilfields will foster the offshore oil pipeline infrastructure market. Flexible trade policies along with ongoing strategic ventures for joint development and access to foreign hydrocarbon reserves will enhance the industry outlook. In addition, prevailing replacement and upgradation projects will complement the business landscape. For instance, in April 2018, McDermott International announced its air and saturation dive for its offshore pipeline construction project across South Africa involving the replacement of various pipeline assets.
The Middle East oil pipeline infrastructure market is driven by geopolitics and ongoing rivalry amongst major industry players competing to establish their positions. Need to diversify from Russian dominance the major industry giants including Qatar and Iran have set plans to extend pipelines to European market. The Goureh-Jask crude pipeline, Naeen-Rey pipeline and Sabz-Ab Rey crude pipeline with total length of 1,100 km, 420 Km and 620 Km respectively are some of the major crude oil pipeline projects expected to be operational by 2022.
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The oil pipeline infrastructure market by transmission lines is set to grow on account of growing need to establish a reliable and efficient oil transportation network across developing economies. Stringent industry standards and codes pertaining the raw material and quality have led to replacement of various pipeline network. In addition, increasing investment in order to upgrade the existing assets along with growing number of upcoming green field projects will augment the industry landscape.
Key industry players functioning across the oil pipeline infrastructure market include TransCanada, Enbridge, Kinder Morgan, Pembina, Enbridge, CNPC, PetroChina, Petrobras Bechtel, National Oil Varco, Europipe, Jindal Group, Welspun Corporation, CRC Evans and Chelpipe.