Dublin, Jan. 09, 2025 (GLOBE NEWSWIRE) — The “Oil and Gas Line Pipe Market Forecast 2024-2032” report has been added to ResearchAndMarkets.com’s offering. The market is analyzed by type and region.
According to this report, the global oil and gas line pipe market size reached approximately USD 47.10 billion in 2023. Aided by the rising global energy demand, increasing oil and gas exploration activities, and growth of the natural gas sector, the market is projected to grow at a CAGR of 6.7% between 2024 and 2032, reaching a value of around USD 84.43 billion by 2032.
The expansion of oil and gas exploration and production activities in offshore, deepwater, and remote locations has further driven the demand for line pipes capable of withstanding extreme conditions. Additionally, the development of new technologies, such as enhanced oil recovery (EOR) and hydraulic fracturing, has opened up new reserves and extraction opportunities, necessitating the construction of new pipelines to transport these resources. The rising investments in oil and gas infrastructure, along with government initiatives to expand energy transportation networks, are expected to propel the market expansion.
One of the primary drivers of the oil and gas line pipe market growth is the rising global demand for energy. As the world’s population continues to grow and industrialisation accelerates in emerging economies, the demand for energy is expected to increase significantly. Oil and gas remain the dominant sources of energy, accounting for a large portion of global energy consumption. The growing energy needs, particularly in developing regions such as Asia-Pacific and Latin America, have led to increased oil and gas production, driving the demand for line pipes to transport these resources.
The expansion of energy infrastructure to meet rising demand includes the construction of new pipelines, as well as the upgrading and maintenance of existing ones. Line pipes are critical for ensuring the safe and efficient transport of oil and gas over long distances, from production sites to end consumers. As countries continue to invest in expanding their energy transportation networks, the oil and gas line pipe market demand is expected to rise.
The increasing exploration and production activities in both onshore and offshore oil and gas fields are another key driver of the market. As conventional oil and gas reserves become more depleted, energy companies are exploring new, more challenging environments to extract hydrocarbons. These activities, particularly in deepwater, ultra-deepwater, and remote regions, require the construction of new pipelines to transport oil and gas from production platforms to onshore processing facilities.
Technological advancements in exploration and production, such as hydraulic fracturing and enhanced oil recovery, have made it possible to access previously untapped reserves, further driving the demand for oil and gas line pipes. As per the oil and gas line pipe market analysis, the discovery of new oil and gas reserves in regions such as the Gulf of Mexico, the North Sea, and West Africa has led to the construction of extensive pipeline networks to support these developments. As global exploration activities continue to expand, the demand for oil and gas line pipes is expected to increase.
One of the notable oil and gas line pipe market trends is the adoption of advanced coating technologies, which has also improved the performance of oil and gas line pipes by providing additional protection against corrosion and wear. These innovations have extended the lifespan of pipelines and reduced maintenance costs, making them more attractive to energy companies. As the demand for more durable and efficient pipeline infrastructure grows, technological advancements in pipeline materials are expected to drive the market further.
The growing demand for natural gas, particularly as a cleaner alternative to coal and oil, has significantly contributed to the oil and gas line pipe market expansion. Natural gas is considered a key transition fuel in the global shift toward cleaner energy sources due to its lower carbon emissions compared to other fossil fuels. As countries aim to reduce their carbon footprints and adopt cleaner energy solutions, the demand for natural gas is expected to rise, leading to increased investments in natural gas infrastructure.
Pipeline transportation is the most efficient and cost-effective method for transporting natural gas, driving the market expansion. The development of liquefied natural gas (LNG) infrastructure and the expansion of gas pipeline networks in regions such as Asia-Pacific, North America, and Europe have further boosted the demand for natural gas line pipes. As natural gas continues to play a pivotal role in the global energy transition, the market for oil and gas line pipes is expected to witness significant growth.
Market Segmentation
Market Breakup by Type
- Seamless
- Welded
- LSAW
- HSAW
- ERW
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global oil and gas line pipe market. Some of the major players explored in the report are as follows:
- ArcelorMittal SA
- JFE Holdings, Inc.
- Tenaris SA
- Vallourec SA
- Sumitomo Corporation
- Nippon Steel Corp.
- Arabian Pipes Company SJSC
- Abu Dhabi Metal Pipes & Profiles Industries Complex LLC (ADPICO)
- Jindal Saw Limited
- Salzgitter AG
- EVRAZ PLC
- EEW Holding GmbH & Co. KG
- Cenergy Holdings SA (Corinth Paperworks)
Key Attributes
| Report Attribute | Details |
| No. of Pages | 150 |
| Forecast Period | 2024-2032 |
| Estimated Market Value (USD) in 2024 | $50.26 Billion |
| Forecasted Market Value (USD) by 2032 | $84.43 Billion |
| Compound Annual Growth Rate | 6.7% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/jj85tc
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
- Oil and Gas Line Pipe Market
