Asia Pacific Pipeline Maintenance Market - Growth, Trends, COVID-19 Impact, Forecasts (2022 - 2027)
The Asia Pacific pipeline market is expected to record a CAGR of more than 2.2% throughout 2022-2027. The outbreak of COVID-19 in Q1 of 2020 negatively impacted the market. Lockdown restrictions imposed by various regions have caused a delay in pipeline construction and maintenance activities across the Asia Pacific. As an example, the Oil and Natural Gas Corporation (ONGC) in India delayed the pipeline replacement project phase in May 2020 because of the COVID-19 outbreak. Order to keep output from ageing pipeline systems and cater to the growing energy demand by expanding oil and gas pipeline infrastructure are just a few of the factors driving the pipeline maintenance services market. Other factors include the development of unconventional oil and gas sources leading to pipeline expansion. In the coming years, high construction costs and delays in implementing projects may restrain market growth.
Key HighlightsAsia Pacific pipeline maintenance market is moderately fragmented. Some of the key players in the market include Dacon Inspection Services Co. Ltd, EnerMech Ltd, T. D. Williamson Inc, STATS Group, and China Petroleum Pipeline Engineering Co., Ltd.
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