The pipeline transportation industry in the US has seen significant fluctuations over the past decade, reaching a value of $58.96 billion in 2023. The industry experienced a steep decline in 2020 due to various factors, with a year-on-year decrease of -42.27%, followed by a strong recovery in 2021 with a 74.64% increase. The most recent years show modest growth, with a year-on-year increase of 2.67% in 2023, indicating a stabilizing trend. The compounded annual growth rate (CAGR) over the last five years stands at 2.4%, illustrating a moderate growth trajectory.
Forecasts suggest a continued growth trend, with the industry's value projected to reach $66.81 billion by 2028. The forecasted 5-year CAGR of 2.02% indicates steady, albeit slow, growth ahead. Given the trends, attention should be paid to regulatory changes, technological advancements, and shifts in energy consumption patterns which could significantly impact the industry's future performance. Additionally, the impact of alternative energy sources on pipeline transportation demand will be a critical factor to monitor.
