- Natural gas is the major source of energy as the demand for the fuel is increasing every year owing to the increased demand for energy.
- The Europian region is expected to dominate the market for virtual pipeline due to the increasing demand for natural gas for power generation and heating spaces.
- The advantages of the virtual pipelines include lowered cost investments in the infrastructure construction, and strategically locating the prime consuming markets.
Market Research Future published research report on global virtual pipeline market. The Virtual Pipelines market is expected to expand at ~ 7.5% CAGR during the period 2018 to 2023.
Natural gas is the major source of energy as the demand for the fuel is increasing every year owing to the increased demand for energy. Midstream operations account for high significance as it meets the demand generated from one nation by transporting natural gas from the nations where it is generated. Mainly, natural gas is distributed in two forms, namely, compressed natural gas (CNG) and liquefied natural gas (LNG). Traditionally pipelines had been the mode of transport but the increased demand from various regions have initiated the market for virtual pipelines.
On the basis of fuel type, the market has been sub-segmented as CNG and LNG. CNG segment is dominating the market due to increased production of natural gas along with increased demand from the liquefaction terminals. Considering the mode of transport, the market is classified as truck, barge, rail, and ship. Ship segment holds the largest market share due to increased net imports for natural gas from developing nations. On the basis of end-use, global virtual pipeline market is categorized as residential, commercial, and industrial. Industrial segment is dominating the market owing to increased power generation from natural gas and expanding fertilizers industry.
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The global virtual pipelines market is expected to progress at ~ 7.5% CAGR during the forecast period.
Market Research Analysis
Europe accounts for the largest market share whereas Asia Pacific is the fastest growing region.
Europe region is expected to dominate the market for virtual pipeline market due to increased demand for natural gas for power generation and heating spaces. The region has a higher demand for better gas transportation facilities as the existing physical pipelines have become obsolete, and require high costs for maintenance and improvement. Asia Pacific is the fastest growing region as the net importers for natural gas are the developing nations of the region.
China itself was the largest consumer of natural gas in 2017, and the consumption is expected to grow with industrialization and urbanization projects. Emerging markets such as Indonesia, and Pakistan are also witnessing high demand for natural gas, which is creating an opportunity for virtual pipelines in Asia Pacific.
GLOBAL VIRTUAL PIPELINES MARKET 2018-2023
This report provides an in-depth analysis of the global virtual pipelines market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the virtual pipelines system market by its fuel type, mode of transport, end-use sector, and by region.