The Virtual Pipeline Systems Market size is projected to reach US$ 2,298.62 million by 2031 from US$ 1,280.96 million in 2023. The market is expected to register a CAGR of 7.6% in 2023–2031. The significantly growing investment in virtual pipeline infrastructure is likely to remain a key virtual pipeline systems market trend.
The major end-users of the virtual pipeline systems market include marine, oil and gas, petrochemical, and other industrial applications. The growing utilization of natural gas as a more cleaner and sustainable fossil fuel for industry and households implied that the supply of liquified natural gas globally is a beneficial trend. Shipping companies, oil & gas, and petrochemical companies are strategically choosing to diversify into natural gas fleets to grasp this trend. Thus, end-user industries are increasingly adopting virtual pipeline systems which is further leveraging the market dynamics over the forecast years.
Virtual pipeline enables the transmission of captured renewable natural gas or biogas from agricultural sites to end users. Thus, a rise in focus on achieving net zero and an emphasis on green energy and renewable energy management are expected to fuel the market growth over the forecast period. Encouraging government initiatives to strengthen the demand for natural gas supply in industrial and commercial areas is increasing the market growth. In the US, the growing government fundung on the oil & gas industry with increase of productionand exploration activities is anticipated to positively impact market growth.
Constant developments in shale drilling procedures have made shales one of the consistent energy resource. Shale gas can be exploited as a cleaner energy alternatives in countries that are dependent on coal as an energy source, as it emits less carbon than coal. Shale gas production has ensued the plenty of natural gas supply worldwide. 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 enhancing the demand for virtual pipeline systems, thereby increasing market development.
Increased focus and investments in natural gas research and development by oil & gas and energy operators are projected to offer substantial growth prospects for the future development of companies in the virtual pipeline system market. These R&D activities are principally driven by their goal of promoting the use of low-emission natural gas products. Aging pipeline infrastructure has been a key concern for governments globally. As an outcome, they are striving to find alternatives to the standard methods of oil and gas transportation. Hence, stern government regulations for ensuring environmental protection from carbon emissions and oil spills are anticipated to create lucrative opportunities for the virtual pipeline market vendors.
Key segments that contributed to the derivation of the virtual pipeline systems market analysis are type, gas, pressure rating, and application.
The geographic scope of the virtual pipeline systems market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
North America led the virtual pipeline systems market. The US, Canada, and Mexico are among the major economies in North America. The growth of the virtual pipeline system market in North America is principally attributed to the mounting LNG trade, ongoing natural gas infrastructure development, and increased gas-driven energy generation capabilities. New projects and substantial shale gas production in the Permian Basin will enhance the region's overall development. Major virtual pipeline system companies working in North America are Certarus Ltd., Throttle Energy Inc. Technology, Clean Fuel Connection Inc., Compass Natural Gas, NG Advantage, CNG Delivery, TX Energy Drilling Corporation, and Corban Energy Group. Many companies have been drawn to the strong production potential held by North America, which has led to significant expenditure on the construction of natural gas pipeline infrastructure, which is driving the growth of the virtual pipeline systems market in North America.
The regional trends and factors influencing the Virtual Pipeline Systems Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Virtual Pipeline Systems Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 1,280.96 million |
| Market Size by 2031 | US$ 2,298.62 million |
| Global CAGR (2023 - 2031) | 7.6% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Virtual Pipeline Systems Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Virtual Pipeline Systems Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The Virtual Pipeline Systems Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for innovations, business expansion, and strategies:
The “Virtual Pipeline Systems Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering the following areas: