The turnover in pipeline transportation in the UK has shown a fluctuating trend over the past decade, with peaks and troughs indicating varying economic and market conditions. Between 2013 and 2017, turnover saw significant variability, rising sharply in some years while dropping in others. Notably, there was a substantial downturn in 2020 with a 45.28% year-on-year decrease.
However, post-2020, the sector rebounded with significant growth, particularly with a 75.26% increase in 2021. By 2023, the turnover stood at 1190.0 million pounds, representing a 2.99% increase from the previous year. Over the last five years, the compound annual growth rate (CAGR) averaged 5.12%.
Looking ahead, forecasts suggest a steady upward trend, with a projected CAGR of 2.23% over the next five years, culminating in a 1370.0 million pounds turnover by 2028. This growth is driven by factors such as technological advancements, infrastructure investments, and increasing demand for efficient transportation amidst a dynamic economic landscape.
Future trends to watch for include the impact of carbon reduction policies, advancements in pipeline technology, and potential fluctuations due to geopolitical factors. Additionally, shifts in energy sources and the integration of renewable energy infrastructure into existing pipeline networks could further influence market dynamics.
