Published: May, 2018
Virtual pipeline systems refers to arranged shipments of gas from one point to another, either by road in containers by road or rail, or by water, in ocean-going or coastal tankers and barges. Virtual pipeline systems make a supply of natural gas to various industries that are either too challenging regionally so as to justify an investment in pipeline construction or too small for normal LNG large-scale carriers.
A few of the eminent market players in the world market are Galileo Technologies S.A, General Electric, Pentagon Energy LLC, Luxfer Holdings PLC, and Hexagon Composites ASA. Market players are also anticipated to make substantial investments discovery and development of various sources of natural gas in the years to come. Efforts to work towards a greener and cleaner environment are anticipated to be a significant part of expanding business in the near future.
In accordance with the research report, the world market for virtual pipeline systems is likely to be worth around US$ 1,821.3 mn by the end of 2025 from the earlier market valuation of US$ 1,070.0 mn in the year 2016. Between the forecast years of 2017 and 2025, the said international market is anticipated to surge at a CAGR of around 6.2%.
Asia Pacific to Expand at a Significant Rate Over the Period of Forecast
The world market for Virtual Pipeline Systems has been regionally segmented into the geographies of South America, North America, Asia Pacific, Middle East and Africa, and Europe. Out of all of these regions, many developing countries such as China, India, and Japan work towards obtaining a cleaner and greener environment, they are likely to be main users of natural gas. This same emerging trend is anticipated to assist Asia Pacific expand at a substantial rate during the forecast period. The rising inclination towards making use of cleaner alternatives than fossil fuels is anticipated to play an important role in the growth of the regional market. The growing investments in natural gas in many of the developing economies of Asia Pacific are also forecasted to have a major influence on the overall market.
Aging Pipeline Infrastructure to Bolster Market Demand
The world market for virtual pipeline systems is mainly fuelled by the aging pipeline infrastructure and stringent environmental emission control regulations. The recent world pipeline industry is huge and expanding till date, however, it is just apt for modernization as a majority of the infrastructure has been in its place for many decades. Increase in demand for virtual pipeline systems can be basically ascribed to the augmented demand for transportation of energy resources. Rising concerns about renewability of energy sources has also affected the natural gas industry in a positive manner.
The information shared that has been in this review is based on a TMR report titled, “Virtual Pipeline Systems Market (Application - Industrial, Transportation, and Commercial and Residential) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017- 2025”.
For the study the market has been segmented as follows:
Global Virtual Pipeline Systems Market Segmentation
- By Application
- By Application
- Power Generation
- By Region
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
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