North America Pipeline Maintenance Market - Growth, Trends, COVID-19 Impact, Forecasts (2022 - 2027)
The North America pipeline market is expected to record a CAGR of more than 2.5% throughout the forecast period 2022-2027. The outbreak of COVID-19 in Q1 of 2020 negatively impacted the market. Lockdown restrictions imposed by various government across the region has caused a delay in pipeline construction and maintenance activities across North America. Additionally, US pipeline operators like Pembina Pipeline Corp and Harvest Midstream are either delayed or stalled their projects due to the Covid-19 pandemic. Factors such as the increasing development of unconventional oil and gas sources leading to the pipeline expansion, the bid to maintain output from ageing pipeline systems, and the need to cater to the growing energy demand by expanding oil and gas pipeline infrastructure are some of the factors driving the demand for the pipeline maintenance services market. However, high construction costs and delays in the implementation of projects are expected to restrain the market's growth in the coming years.
Key HighlightsThe North America pipeline market is moderately fragmented. Some of the key players in the market include Baker Hughes A GE Co, T. D. Williamson Inc, Oil States Industries Inc., EnerMech Ltd, and STATS Group.
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