From 2014 to 2023, Belgium has seen substantial growth in the turnover of pipeline transportation, measured in million euros. The turnover increased from 164.2 million euros in 2014 to 1100.0 million euros in 2023. Over the last two years, the year-on-year variation has been positive, with an 8.34% increase in 2022 and a 7.61% increase in 2023. The Compound Annual Growth Rate (CAGR) over the last five years stands at 8.42%, reflecting steady expansion in the sector.
Looking ahead, forecast data shows continued growth, with the turnover expected to reach 1470.0 million euros by 2028. The five-year forecast CAGR is projected at 4.65%, indicating a more moderate but still positive trend. Several trends worth monitoring include:
- Adoption of advanced technologies and automation in pipeline operations.
- Regulatory changes impacting the pipeline transportation industry.
- Shifts in energy sources and their effect on pipeline demand.
- Environmental concerns and initiatives influencing pipeline infrastructure.
