Pipeline Construction Market Size, Share, Competitive Landscape and Trend Analysis Report
WILMINGTON, DELAWARE, UNITED STATES, March 13, 2024 /EINPresswire.com/ — The global pipeline construction market is witnessing significant growth, as highlighted in the recent report by Allied Market Research. With a generated revenue of $45.7 billion in 2021, the market is poised to reach $73.1 billion by 2031, boasting a robust compound annual growth rate (CAGR) of 4.8% from 2022 to 2031. The report provides an in-depth analysis of market dynamics, key segments, value chain, investment opportunities, regional trends, and competitive landscape.
𝐃𝐢𝐫𝐞𝐜𝐭 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 (𝐒𝐩𝐞𝐜𝐢𝐚𝐥 𝐎𝐟𝐟𝐞𝐫): https://www.alliedmarketresearch.com/checkout-final/48dcd6328d8db499ad95073ab22f2958
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲: https://www.alliedmarketresearch.com/request-sample/A16396
Factors Driving Growth
Several factors contribute to the growth of the global pipeline construction market. Increased energy consumption across diverse industries, intensified offshore exploration activities, and government investments in oil & gas refinery projects are primary drivers. Additionally, population growth drives demand for essential daily products such as water, milk, and petroleum products, creating opportunities for pipeline construction.
Impact of COVID-19
However, the COVID-19 pandemic had a detrimental impact on the market. The implementation of government regulations led to business halts, disrupting operations and revenue flow. Supply chain disruptions, raw material shortages, and reduced manpower hindered production capacity during lockdowns, posing challenges for the pipeline construction industry.
Market Segmentation
The report offers comprehensive segmentation of the global pipeline construction market based on pipe type, end user, application, and region. In terms of pipe type, the metallic segment dominated in 2021 and is expected to maintain its leadership status throughout the forecast period. Conversely, the non-metallic segment is projected to exhibit the highest CAGR of 5.8% from 2022 to 2031.
In terms of application, the gas pipeline segment held the largest market share in 2021 and is expected to continue its dominance. Moreover, it is projected to register the highest CAGR of 5.1% from 2022 to 2031.
Regional Analysis
Asia-Pacific contributed the highest revenue share in 2021 and is expected to maintain its dominant position by 2031, with a projected fastest CAGR of 5.6%. Other regions analyzed include North America, Europe, and LAMEA.
Leading Players
Key players driving the global pipeline construction market include Metal Forge India, Prosaic Steel and Alloys, Forterra Inc., Cogbill Construction LLC, CCI Leidingsystemen B.V, Yena Engineering B.V., Enka Insaat Ve Sanayi, Larsen & Turbo Limited, Seonghwa Industrial Co Ltd, and Sung Il Sim Co. Ltd.
In conclusion, the global pipeline construction market presents lucrative growth opportunities, driven by increasing energy demands and infrastructure investments. Despite challenges posed by the COVID-19 pandemic, the market is poised for steady expansion, with Asia-Pacific emerging as a key growth region. Collaborative efforts among industry players and strategic investments will be crucial in navigating market dynamics and sustaining growth in the coming years
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David Correa
Allied Market Research
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