The virtual pipelines market has been experiencing several trends that are shaping the industry's growth and development. Some of the most prominent trends in the virtual pipelines market are:
Increasing demand for natural gas: With the growing need for clean energy, natural gas is becoming a popular choice as it produces fewer emissions compared to traditional fossil fuels. This is driving the demand for virtual pipelines to transport natural gas to remote areas.
Technological advancements: The virtual pipelines industry is witnessing technological advancements, such as advanced compression and storage technologies, which are increasing the efficiency of transporting gas through pipelines.
Emergence of small-scale LNG projects: Small-scale liquefied natural gas (LNG) projects are gaining traction as they offer a cost-effective and flexible solution for transporting natural gas to remote areas.
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Government support and regulations: Governments across the world are implementing regulations to reduce greenhouse gas emissions, which is encouraging the use of natural gas and virtual pipelines. This is expected to drive the market growth further.
Increasing investments: Virtual pipelines infrastructure requires significant investments, and various companies and governments are investing in developing this infrastructure to cater to the growing demand for natural gas.
Focus on renewable energy: With the growing importance of renewable energy sources, such as wind and solar power, the virtual pipelines market is facing competition from alternative energy sources. This is challenging the market's growth and development, and companies are looking for ways to adapt to these changes.
Virtual Pipelines Market Summary:
Virtual Pipelines Market is projected to reach USD 2,678.50 Million by the end of the forecast period in 2030, and hence, a global CAGR of 5.8% between 2022-2030.
Segmental Analysis
The global virtual pipeline market has been segmented on the basis of fuel type, End-uses, mode of transport, and regions. Based on fuel type, the market is bifurcated as CNG and LNG. CNG segment dominates due to increased natural gas production and increased demand from the liquefaction terminals. In terms of the segment transport mode, the market is classified as truck, barge, rail, and ship. Ship segment holds the biggest market share due to increased net natural gas imports from developing countries. In 2017, total natural gas imports increased by 5.1% as compared to 2016. Based on end-use, global virtual pipeline market is categorized as commercial, residential,and industrial. Industrial segment is dominating the market due to augmented power generation from natural gas, and growing fertilizers industry.
Key Companies Profiled
- GE Oil and Gas (U.S.)
- Kinder Morgan (U.S.)
- SUB161° (Australia)
- Eniday (Italy)
- Galileo Technologies S.A. (Argentina)
- CNG Services Limited (U.K). SENER Group (Spain)
- Pentagon Energy LLC (U.S.)
- Xpress Natural Gas LLC (U.S.)
- OsComp Holdings LLC (U.S.)
- NG Advantage LLC (U.S.)
- REV LNG LLC (U.S.)
