Gas Pipeline Infrastructure Market Growth & Trends
The global gas pipeline infrastructure market size is expected to reach USD 3,228.3 billion by 2027, expanding at a revenue/volume based CAGR of 3.4% over the forecast period, according to a new report by Grand View Research, Inc. Rising natural gas imports along with growing investments in infrastructure and network expansion are likely to strengthen the market demand.
The market is primarily driven by replacement of existing pipeline infrastructure owing to requirement for enhanced safety and emergency response planning. In addition, network expansion across several regions will further provide a major boost to the market growth. For instance, Gazprom invested RUB 5.9 billion on infrastructure expansion in the Sakhalin Region, constructing nine inter-settlement gas pipelines in between 2008-2018.
Technological advancements including smart pipeline pigs, advanced control systems, remotely operated automatic valves, and penetration of IoT integrated devices are likely to enhance the industry outlook. However, increasing gap between demand and supply of skilled manpower is expected to lead to cost overrun and project delays, thereby hampering the market growth.
The companies follow cost-of-service approach to charge transportation tariff from shippers utilizing their assets to transport gas and other liquids. The tolls are designed to allow the industry participants recover capital and operating costs, service debts, and provide a return to its investors. Higher return on investment is expected to positively influence the market growth. Industry participants are further adopting several strategic initiatives to enhance their foothold over the market. For instance, in December 2019, Pembina Pipeline Corporation announced acquisition of Kinder Morgan Canada Limited and U.S. portion of the Cochin pipeline.
Request a Sample Copy of the Gas Pipeline Infrastructure Market Research Report @ https://www.grandviewresearch.com/industry-analysis/gas-pipeline-infrastructure-market/request/rs1
Gas Pipeline Infrastructure Market Report Highlights
Have Any Query? Ask Our Experts@ https://www.grandviewresearch.com/inquiry/450314/ibb
Gas Pipeline Infrastructure Market Segmentation
Grand View Research has segmented the global gas pipeline infrastructure market on the basis of operation, application, and region:
Gas Pipeline Infrastructure Operation Outlook (Volume, ‘000 Kms; Revenue, USD Billion, 2016 – 2027)
Gas Pipeline Infrastructure Application Outlook (Revenue, USD Billion, 2016 – 2027)
Gas Pipeline Infrastructure Regional Outlook (Volume, ‘000 Kms; Revenue, USD Billion, 2016 – 2027)
Browse Related Reports @
Axial Flow Pump Market: https://www.grandviewresearch.com/industry-analysis/axial-flow-pump-market
LPG Vaporizer Market: https://www.grandviewresearch.com/industry-analysis/lpg-vaporizer-market
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
Media ContactCompany Name: Grand View Research, Inc.Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.Email: Send EmailPhone: 1-415-349-0058, Toll Free: 1-888-202-9519Address:201, Spear Street, 1100 City: San FranciscoState: CaliforniaCountry: United StatesWebsite: https://www.grandviewresearch.com/industry-analysis/gas-pipeline-infrastructure-market