Global Pipeline and Process Services Market: Overview

Pipeline and process services form an integral role in maintaining the integrity of pipeline and process assets in onshore as well as offshore applications. Increasing numbers of oil and gas industry have been employing these services in various stages of operation, ranging from pre-commissioning and commissioning, to maintenance, and decommissioning. Over the past few years, pipeline and process services have played crucial role in improving the profitability of hydrocarbon industry. Providers in the pipeline and process services market offer engineering services, including specialized equipment, to their clients in the oil and gas construction sector.

Around the middle of the decade, the oil and gas industry witnesses several pipeline projects getting derailed. But around 2017, the commissioning of numerous projects gained momentum, imparting headwinds to pipeline pre-commissioning and commissioning services, especially in North America and Asia Pacific. In the coming years, pre-commissioning and commissioning services are likely to contribute a whopping share of revenue to the global pipeline and process services market. 

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Global Pipeline and Process Services Market: Notable Developments

Deepwater oil projects have been behind the expansion of the pipeline and process services market. Top players find substantial revenue streams in meeting the demands for pipeline and process services for deepwater exploration. The following offshore project emphasizes the latent opportunity.

Halliburton Company, a U.S.-based multinational corporation that offer oilfield services, has in August 2019 been awarded a set of nine offshore contracts by Woodside Energy. The contracts offered by the Perth-based company entail completing oil wells off the coast of Senegal, West Africa. The contracts will include a range of pipeline and process services. The drilling campaign is expected to start somewhere around early 2021; the investment decision isn’t final yet. Of note the agreement follows a contract the Australian company awarded to the Houston-based company for offering drilling and completion fluids.

Several other pipeline and process services providers hope to capitalize on opportunities by catering to their clients’ needs of offshore explorations in various parts of the world. Marked momentum to the pipeline and process services market came from growing deepwater explorations, especially in Gulf of Mexico, Brazil, and the Philippines.

The names of some of the well-entrenched players are:

  • Tucker Energy Services
  • Bluefin Group
  • Techfem Spa
  • Hydratight
  • EnerMech
  • Baker Hughes, a GE company (BHGE)

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Global Pipeline and Process Services Market: Growth Drivers

A few drivers and trends underpinning the contours of the market are: 

  • New Oil & Gas Reserves Drive Demand for Pipeline & Process Services

Over the past couple years, oil and gas reserves have expanded considerably in key energy markets such as the U.S. and Asia Pacific with new oil discoveries. Million tonnes of oil reserves discovered have proliferated the demand for a range of pipeline and process services. With the need for fast completion of pre-commissioning projects in these energy markets, the pipeline and process services market is witnessing substantially lucrative avenues for providers.

  • Deepwater Markets Adopting Pipeline & Process Services

Several oil and gas construction projects in deepwater explorations have offered a robust fillip to the expansion of the pipeline and process services market. Deepwater are characterized by unique challenges pertaining to use of specialized equipment and engineering services. This has offered copious opportunities to companies in the pipeline and process services market.  The last few years has seen a constant flux of multiple product service lines to meet these challenges, thereby increasing the potential of the market.

Global Pipeline and Process Services Market: Regional Outlook

Of the various regions, North America has been one of the key markets over the past few years. Rising demands for pipeline commissioning services in the region are likely to lead to sizable revenues in the global pipeline and process services market for the next few years. A fast expanding offshore market in the region, notably in the U.S., has thrown unique engineering challenges that prominent pipeline and process services show eagerness to address through their top portfolio. Furthermore, extensive uptake of such services in transportation of natural gas across the region has also consolidated revenue prospects of the global pipeline and process services market.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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