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Virtual Pipeline Systems Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Gas, Pressure Rating, and Application

Virtual Pipeline Systems Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Gas, Pressure Rating, and Application

  • October 2022
  • 181 pages
  • ID: 6353501
  • Format: PDF
  • The Insight Partners

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The virtual pipeline systems market is expected to grow from US$ 1,191.59 million in 2022 to US$ 1,886.83 million by 2028. It is estimated to grow at a CAGR of 9.2% from 2022 to 2028.

Growing energy demand and rising gas exploration activities globally are expected to boost the virtual pipeline systems market growth.In addition, the growing shift from conventional pipeline infrastructure to virtual pipeline systems is anticipated to fuel the virtual pipeline systems market growth over the forecast period.

Virtual pipelines offer flexibility in transporting natural gas and remove the need for large physical pipeline installations. Thus, virtual pipeline systems are gaining more traction in the oil & gas industry.

The rising shale gas extraction across Europe, the US, and the Middle Eastern countries is driving the demand for virtual pipeline systems.The European Union (EU) is expected to witness a significant growth owing to rising shale gas exploration activities, owing to an increased supply of liquefied natural gas in the US and better contractual circumstances for pipeline imports.

A new generation of shale gas exploitation methods, with lower costs and fewer environmental footprints, might make indigenous shale gas reserves in the EU appealing in the long term after 2030.China has the most shale reserves, and a sizable portion of its output comes from the Sichuan basin.

Therefore, the increase in shell gas exploration and extraction projects due to developments in related technologies, coupled with the availability of a large number of reserves, is boosting the demand for virtual pipeline systems, thereby boosting market growth.

However, the significant dominance of conventional pipeline infrastructure may hamper the market growth.The acceptance of conventional pipeline infrastructure is higher than the virtual pipeline infrastructure, which is one of the primary factors affecting the global virtual pipeline system market growth.

Government and private entities are progressively adopting conventional pipelines over virtual and making significant investments.

In addition, the growing energy demands are expected to impact market growth positively. Except for Japan, electricity demand in most countries in the Asia Pacific region is expected to continue to grow through 2024.

The virtual pipeline systems market is mainly dominated by players such as Baker Hughes, Certarus Ltd., CNG Services Ltd, Exxon Mobil Corporation, and Galileo Technologies S.A. Further, these players expand their business through new product launches, market initiatives, investment in technological upgrades, mergers & acquisitions, and other joint activities.

For instance, in December 2021, Certarus Ltd. secured industry-leading virtual pipeline trailers for hydrogen from Quantum Fuel Systems, a fully integrated alternative energy firm. Quantum’s VPLite-H45/40’ trailers, with a gas mass of 803 kg at 3,600 pressures, were delivered to Certarus (248 bar). The trailers are permitted for use in both Canada and the US.

COVID-19 Impact on Virtual pipeline systems Market

Most European Union countries have substantial pipeline capacity within EU cross-border that is not linked to Russia.For example, Germany has a total of 114 Bcm of capacity from Norway, Belgium, Switzerland, Austria, Denmark, and the Netherlands, while total annual consumption is 94 Bcm, according to the European Network of Transmission System Operators.

Thus, the natural gas capacities network in European countries has been hampered due to COVID-19 pandemic.However, the COVID-19 pandemic brought reduction in demand and disruption in pipeline operations between Spain and France, Italy and Central Europe, Central Europe & South-Eastern Europe, and Germany and Italy.

Risks to new projects also come from efforts to address greenhouse gas emissions.

Companies profiled in the virtual pipeline systems market study include Bayotech, Inc; CNG Services Ltd; Petroliam Nasional Berhad (PETRONAS); RAG Austria AG; Quantum Fuel Systems LLC; Galileo Technologies S.A.; Chart Industries, Inc.; SHIJIAZHUANG ENRIC GAS EQUIPMENT CO., LTD; Fiba Technologies Inc; Hexagon Agility; and Composite Advanced Technologies, LLC. Virtual pipeline systems market players are following both organic and inorganic growth strategies to sustain the competitive edge. Numerous initiatives, such as investment in research and development and the formation of virtual reality (VR) simulator training centers, are expected to impact the virtual pipeline systems market growth positively. For example, in 2022, Chart acquired CSC Cryogenic Service Center AB (CSC). The Swedish company adds a strong service footprint in the Nordic Region with many overlapping customers enabling the company to broaden its service and repair presence geographically and provide further localized support for its strong original equipment installed database.

The overall virtual pipeline systems market analysis has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the virtual pipeline systems market.

The process also serves the purpose of obtaining an overview and forecast of the virtual pipeline systems market size with respect to all market segments.Also, industry participants and commentators have conducted multiple primary interviews to validate the data and gain more analytical insights.

The participants typically involved in the virtual pipeline systems market study include VPs, business development managers, market intelligence managers, national sales managers, and external consultants, such as valuation experts, research analysts, and key opinion leaders, specializing in the virtual pipeline systems market.

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