Rise in demand for natural gas is anticipated to rise in the forecasted period due to cost effectiveness as compared to other fossil fuel types and the accessibility to ample of natural gas reserves. This will further drive the onshore oil and gas pipeline market in the forecasted period. Furthermore, NGL and natural gas segment is anticipated to boost at a fast pace in the forecasted period, majorly because of increase in awareness and rise is use of natural gas as a clean alternative for various fuels such as diesel and fuel oil. Refined products are majorly shipped through roadways or railways at present and therefore, refined products segment is expected to have a minor share of the onshore oil and gas pipelines market in the forecasted period.
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The global shift towards renewable sources for electricity generation poses as a huge restraint for the oil and gas demand, which will be a major challenge for the growth of onshore oil & gas pipelines installation in the coming years.
The global onshore oil and gas pipeline market is studied across major four regional markets including North America, Europe, Asia-Pacific, and LAMEA. North America is expected to be the largest market over the coming years in response to the rising investments in oil and gas infrastructure in the region mainly due to shale boom in the U.S. Besides this, Asia-Pacific is expected to register significant growth due to increase in the demand for energy, rise in investments in exploration and production activities, and upcoming pipeline projects in the region, especially in developing countries such as China and India.
Major players analyzed include Jiangsu Chang bao Steel Tube Co., Ltd., American Cast Iron Pipe Company, Jindal SAW Ltd, EUROPIPE Group, Tenaris S.A., Vallourec S.A., MetalurgicaGerdau S.A., JSW Steel Limited, JFE Steel Corporation, and Essar Steel.
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- The global market for onshore oil and gas pipeline is severely impacted by the outbreak of the COVID-19 pandemic.
- The COVID-19 pandemic saw a decline in the economic growth in almost all the major countries, thus affecting consumer spending patterns.
- Owing to the lockdown implemented across various countries, national and international transport have been hampered, which has significantly impacted the supply chain of numerous industries across the globe, thereby increasing the supply–demand gap.
- Thus, insufficiency in raw material supply is expected to hamper the production rate of onshore oil and gas pipeline, which negatively impact the market growth.
- However, this situation is expected to improve as government has started relaxing norms around the world for resuming business activities.
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