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Refined Petroleum Products Pipeline Transport Global Market Report 2023
Major players in the refined petroleum products pipeline transport market are Buckeye Partners, Shell Pipeline, NuStar Energy L.P., Dte Pipeline, Gulf South Pipeline, Rockwell Automation Inc, Schneider Electric, ESRI, ABB Ltd, FMC Technologies, Alcatel-Lucent Enterprise International, Siemens AG, Trimble Navigation Limited, Emerson Electric Co.
New York, June 01, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Refined Petroleum Products Pipeline Transport Global Market Report 2023" - https://www.reportlinker.com/p06464195/?utm_source=GNW
, Alstom SA, Liebert Corporation, Magellan Midstream Partners, Enterprise Products Partners, and Kinder Morgan Energy Partners.
The global refined petroleum products pipeline transport market is expected to grow from $49.07 billion in 2022 to $52.47 billion in 2023 at a compound annual growth rate (CAGR) of 6.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The refined petroleum products pipeline transport market is expected to reach $66.65 billion in 2027 at a CAGR of 6.2%.
The refined petroleum products pipeline transport market consists of revenues earned by entities by providing various pipeline transport services to customers, such as storage, blending, testing and inspection, maintenance, consulting, and related support services.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Refined petroleum products pipeline transport refers to the transport of refined petroleum products, such as gasoline and diesel, with the help of a network of pipelines. It involves the use of a network of pipelines that transport the products from refineries to distribution centers and ultimately to end-users such as retail gas stations and industrial users.
North America was the largest region in the refined petroleum products pipeline transport market in 2022. The regions covered in refined petroleum products pipeline transport report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of refined petroleum products transported via pipeline are diesel, gasoline, fuel oils, and kerosene.Diesel is a liquid fuel that is derived from crude oil and is used as a fuel for heavy-duty vehicles, such as trucks, buses, and trains, due to its higher fuel efficiency and durability.
These are used to provide several services, such as consulting services, managed services, and maintenance and support services, which are used for various onshore and offshore applications.
The increasing demand for oil and gas is expected to propel the growth of the refined petroleum products pipeline transport market going forward.Oil and gas are naturally occurring resources that are commonly referred to as hydrocarbons, and they are used in various industries such as transportation fuels, insulation, and automation.
Oil and gas Pipeline transportation is a common method used to move refined petroleum products from nearby or distant oil wells to oil tankers because it is secure and requires little upkeep. For instance, in September 2022, according to the International Energy Agency’s (IEA) Oil 2022 report, the global demand for oil and gas is increased by 3.2 million barrels per day in 2022, which is higher than the estimated increase of 2.5 million barrels per day in 2021. Moreover, in March 2023, according to the IEA’s short-term energy outlook report, it is anticipated that U.S. crude oil output would surpass the record high achieved in 2019 by reaching 11.7 million b/d in 2022 and 12.4 million b/d in 2023. Therefore, an increasing demand for oil and gas is driving the growth of the refined petroleum products pipeline transport market.
Technological advancement is a key trend gaining popularity in the refined petroleum products pipeline transport market.Major players operating in the refined petroleum products pipeline transport market are concentrating their efforts on creating innovative technologies to strengthen their position in the market.
For instance, in April 2021, ABB, a Switzerland-based automation company, launched HoverGuard, the world’s fastest and most sensitive drone-based gas leak detection system.It detects, measures, and maps leaks up to 100 meters from gathering lines, storage facilities, natural gas distribution and transmission pipes, and other potential sources promptly, safely, and reliably.
After a survey, it instantly creates detailed digital reports that summarize the results and may be shared.The cloud-connected, multi-gas solution is also the first UAV-based system to constantly measure the three most significant greenhouse gases, methane, carbon dioxide, and water vapor, while flying.
Patented cavity-enhanced laser absorption spectroscopy is 10 times faster and more sensitive than traditional leak detection methods in detecting methane.
In December 2021, Energy Transfer, a US-based company engaged in the natural gas and oil pipeline transport industry, acquired Enable Midstream Partners for an undisclosed amount.This acquisition will significantly strengthen Energy Transfer’s midstream and gas transportation systems, and the combined operations of the two companies are expected to generate annual run-rate cost and efficiency synergies.
Enable Midstream Partners is a US-based midstream pipeline company firm that is involved in the transportation, storage, and processing of refined petroleum products, such as jet fuel, gasoline, and distillate fuel oil.
The countries covered in the refined petroleum products pipeline transport market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The refined petroleum products pipeline transport market research report is one of a series of new reports that provides refined petroleum products pipeline transport market statistics, including refined petroleum products pipeline transport industry global market size, regional shares, competitors with a refined petroleum products pipeline transport market share, detailed refined petroleum products pipeline transport market segments, market trends and opportunities, and any further data you may need to thrive in the refined petroleum products pipeline transport industry. This refined petroleum products pipeline transport market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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