APAC Oil & Gas Pipeline Market to Surpass $19 Billion by 2022
Recovering
crude oil prices, rising energy demand and number of companies increasing their
midstream activities for oil & gas extraction to propel APAC oil & gas pipeline
market through 2022
According to a recently
published TechSci Research report, “Asia-Pacific Oil & gas Pipeline Market By Application, By Type, Competition Forecast &
Opportunities, 2012–2022”, oil & gas pipeline market in APAC region
is forecast to cross $ 19 billion by
2022. Share of natural gas in the
region’s primary energy consumption is expected to grow further in the coming
years, due to growing demand from emerging economies in the region, such as China
and India. Moreover, growing environmental initiatives taken by various
governments, rising demand from power sector coupled with growing need for more
efficient energy source are fueling demand for natural gas across the region.
Thus, oil & gas pipeline infrastructure across Asia-Pacific region is
expected to expand further in the coming years. Moreover, rising technological
innovation in midstream oil & gas pipeline market, in order to make it more
economical and safe for transportation of hydrocarbons are anticipated to
further fuel oil & gas pipeline network in the Asia-Pacific region during
the forecast period.
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Recovering crude prices is driving oil & gas
companies to increase their midstream activities for oil & gas extraction,
thereby propelling growth in APAC oil & gas pipeline market. Oil & gas
pipeline projects are surging at a tremendous rate in India and China. In 2016,
these countries account for nearly 29.04% of the total pipeline length in the
Asia-Pacific, and the percentage is anticipated to grow further during the
forecast period. Midstream dominated Asia-Pacific oil & gas pipeline market
in 2016, and the application is further forecast to continue dominating the
market through 2022. Increasing technological innovation in midstream oil &
gas activities to make it more economical and to further increase the safety
parameters for transportation of hydrocarbons are further anticipated to expand
oil & gas pipeline network in Asia-Pacific region during the forecast
period.
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“Australia, Malaysia and Indonesia
are major LNG suppliers from Asia-Pacific. Australia’s LNG exports were up by
14% in 2015 as compared to 2014, due to start of BG’s Curtis project in 2014.
Hence, rising import
and export of LNG is likely to further drive expansion of oil & gas
pipeline distribution network in APAC region through 2022.”, said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Asia-Pacific Oil
& gas Pipeline Market By Application, By Type, Competition Forecast &
Opportunities, 2012–2022” has evaluated the future growth
potential of Asia-Pacific oil
& gas pipeline market and provides statistics and information on
market structure. The report is intended to provide cutting-edge market
intelligence and help decision makers take sound investment evaluation.
Besides, the report also identifies and analyzes emerging trends along with
essential drivers, challenges and trends available in Asia-Pacific oil & gas pipeline market.
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