Global Virtual Pipeline Market Size study & Forecast, by Fuel Type (CNG, LNG, Others), by Application (Transportation, Industrial & Commercial) and Regional Analysis, 2023-2030
Global Virtual Pipeline Market is valued at approximately USD 1.20 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 5.4% during the forecast period 2023-2030. A Virtual Pipeline is a logistical solution that allows for the transportation of natural gas or other energy sources using alternative methods beyond traditional pipelines. It typically involves the use of specialized equipment such as Compressed Natural Gas (CNG) trailers, Liquefied Natural Gas (LNG) ISO containers, or other mobile storage and transportation units. These units can be transported via road, rail, or waterway to areas that lack access to conventional pipeline infrastructure, enabling the delivery of energy resources to remote or isolated locations. Virtual Pipelines offer flexibility and scalability, making them particularly useful in regions where building permanent pipelines is economically or environmentally challenging. They provide a reliable energy supply to industries, communities, and power plants, contributing to energy security and accessibility in various parts of the world. The Virtual Pipeline Market is expanding because of factors such as the shifting trend toward cleaner energy resources, rising demand for natural gas and growing global demand for energy.
The global demand for natural gas is on the rise due to its lower carbon footprint compared to other fossil fuels. Virtual Pipelines provide a means to transport natural gas to areas where conventional pipeline development might be impractical or delayed, helping meet the growing demand for cleaner energy sources. According to the International European Agency Report 2020, the global LNG trade would expand by 21% from 2019 to 585 billion cubic metres (bcm) of natural gas a year by 2025. Thus, the rising demand for natural gas is driving the market growth. In addition, Advances in technology, such as improved compression and liquefaction techniques and increasing operations at remote locations are some factors creating new opportunities for market growth. However, the rising adoption of renewable energy sources and volatility in gas prices stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Virtual Pipeline Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to factors such as the vast and diverse geography of the region, including remote and isolated areas, which presents a significant challenge for traditional pipeline infrastructure development. The increasing demand for cleaner energy sources in the Asia-Pacific region has led to a rising interest in natural gas. North America is expected to grow at the fastest rate over the forecast period, increased focus on environmental sustainability and the transition to cleaner energy sources contribute to the growth of the Virtual Pipeline Market in North America.
Major market player included in this report are:Kinder Morgan Inc
Stabilis Solutions, Inc.
Hexagon Agility
Fiba Technologies Inc
Petroliam Nasional Berhad
CNG Services
Gas Malaysia Berhad
Galileo Technologies S.A
NG Advantage LLC
Marline Gas Services
Recent Developments in the Market: In August 2022, Kinder Morgan completed the acquisition of North American Natural Resources, Inc. and its affiliated entities, North American Biofuels LLC, and North American-Central LLC, for a total of USD 135 million. This acquisition encompasses seven landfill gas-to-power plants situated in Michigan and Kentucky, with the amalgamated purchase amount covering related contract costs. As a strategic move, Kinder Morgan has made the Final Investment Decision (FID) to undergo the conversion of four out of the seven gas-to-power plants into renewable natural gas plants. This transformative initiative involves a capital expenditure of approximately USD 175 million.
In October 2021, Gas Malaysia, and Malakoff Corporation Berhad established Malakoff – Gas Malaysia Cogen O&M Sdn Bhd, marking a strategic collaboration between the two utility firms under the MMC Group of Companies. This partnership leverages the combined expertise and resources of Gas Malaysia and Malakoff to initiate the Operations & Maintenance (O&M) services for the cogeneration plant in Malaysia.
Global Virtual Pipeline Market Report Scope: Historical Data – 2020 - 2021
Base Year for Estimation – 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered – Fuel Type, Application, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:By Fuel Type:
CNG
LNG
Others
By Application:
Transportation
Industrial & Commercial
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa
Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.