Virtual Pipeline Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Virtual Pipeline Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Virtual Pipeline Market

The virtual pipeline market size was valued at USD 0.99 billion in 2021, and the market is now projected to grow from USD 1.02 billion in 2022 to USD 1.48 billion by 2029, exhibiting a CAGR of 5.4% during the forecast period of 2021-2029.

Government has put restrictions on social gatherings, events and moving out from home which make the people homesick. Numerous companies are encountering hurdles due to covid pandemic as the outbreak situation has curtailed production and supply chain which has hindered the market switched to treating covid patients as priority over the other procedures which led the virtual pipeline market growth. Additionally, manpower shortages affected manufacturing plants and slowed production due to movement restrictions and lockdowns in several regions. Stopped providing on-site maintenance and installations market growth sputtered amid the pandemic.

Growing demand for natural gas and a shifting trend toward cleaner energy resources will drive virtual pipeline market during forecast period. Because of the serious risks posed by global warming, there is a drive toward cleaner energy sources, which has raised demand for natural gas. It does not necessitate the extensive installation of a physical pipeline, which saves a lot of money on pipeline installation while predicting market expansion. Natural gas is now utilized in many industries, including industrial, power generation, chemical, residential, and commercial, as a result of growing urbanization and industry. This has increased demand for gas pipeline infrastructure. Additionally, additional users have been drawn in by the government subsidies offered to promote natural gas use and distribute it around the nation.

Growing need for gas pipeline improvement to expand market opportunities during forecast period. Numerous sectors have seen an increase in energy demand as a result of the urban population growth brought on by migration. The majority of power comes from traditional resources like gas because renewable energy is still in its early phases of development in many parts of the world. Increased offshore exploration efforts have resulted in a boom in pipeline infrastructure development due to the strong demand for energy. The demand for pipeline transport services and solutions to several remote sites has increased as a result.

Comprehensive Analysis of Virtual Pipeline Market

The virtual pipeline market and power & energy industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessments considering the dominant supply and demand forces that impact the pharmacy benefit management industry. These segmentations are methodically segregated by Fuel Type and by application. The types of devices include, By Fuel Type segmentations include CNG, LNG, and Others, By Application segmentations include Transportation and Industrial & Commercial.

The North America region lead the virtual pipeline market by benefitting a market size of USD 0.30 billion in 2021 due to Growing demand for natural gas and a shifting trend toward cleaner energy resources and Growing need for gas pipeline improvement to expand market opportunities.

The top players in the market play a crucial role in the power & energy industry assuring industrial prospectus growth and setting market standards. These prominent key industry players include, Kinder Morgan (U.S.), Stabilis Solutions, Inc. (U.S.), Hexagon Agility (U.S.), Fiba Technologies (U.S.), Petronas (Malaysia), CNG Services (U.K.), Gas Malaysia (Malaysia), Galileo Technologies (Argentina), NG Advantage (Vermont), Marline Gas Services (U.S.), Snam (Italy), Certarus Ltd (Canada) these market players provide a level-playing competitive landscape.

In August 2022, For USD 135 million, Kinder Morgan purchased North American Natural Resources, Inc. and its subsidiaries, North American Biofuels LLC and North American-Central LLC. The acquisition includes seven amounts of landfill gas to power facilities in Michigan and Kentucky as part of the total purchase amount and associated contract fees. Kinder Morgan decides to convert four of the seven gas-to-power facilities into renewable natural gas plants through this acquisition, requiring a capital investment of about USD 175 million.

Segmentation Table

ATTRIBUTE

DETAILS

Study Period

2018-2029

Base Year

2021

Estimated Year

2022

Forecast Period

2022-2029

Historical Period

2018-2020

Unit

Value (USD Billion)

Segmentation

By Fuel Type, Application, and Region

Segmentation

By Fuel Type

CNG

LNG

Others

By Application

Transportation

Industrial & Commercial

By Region

North America (By Fuel Type, Application, and Country)

• U.S. (By Fuel Type)
• Canada (By Fuel Type)

Europe (By Fuel Type, Application, and Country)

• U.K. (By Fuel Type)
• Germany (By Fuel Type)
• Italy (By Fuel Type)
• Rest of Europe (By Fuel Type)

Asia Pacific (By Fuel Type, Application, and Country)

• China (By Fuel Type)
• India (By Fuel Type)
• Malaysia (By Fuel Type)
• Rest of Asia Pacific (By Fuel Type)

Latin America (By Fuel Type, Application, and Country)

• Brazil (By Fuel Type)
• Argentina (By Fuel Type)
• Rest of Latin America (By Fuel Type)

Middle East & Africa (By Fuel Type, Application, and Country)

• South Africa (By Fuel Type)
• Egypt (By Fuel Type)
• Rest of Middle East & Africa (By Fuel Type)

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