Virtual Pipeline Systems Market Dynamics and Analysis by 2031
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.
Virtual Pipeline Systems Market Analysis
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 Systems Market Overview
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.
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Virtual Pipeline Systems Market: Strategic Insights
Market Size Value in US$ 1,191.59 Million in 2022 Market Size Value by US$ 1,886.83 Million by 2028 Growth rate CAGR of 9.2% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2022
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Virtual Pipeline Systems Market: Strategic Insights
| Market Size Value in | US$ 1,191.59 Million in 2022 |
| Market Size Value by | US$ 1,886.83 Million by 2028 |
| Growth rate | CAGR of 9.2% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
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Virtual Pipeline Systems Market Drivers and Opportunities
Mounting Shale Gas Extraction Driving Demand for Virtual Pipeline System
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.
Growing Demand for Natural Gas – An Opportunity in Virtual Pipeline Systems Market
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.
Virtual Pipeline Systems Market Report Segmentation Analysis
Key segments that contributed to the derivation of the virtual pipeline systems market analysis are type, gas, pressure rating, and application.
- Based on the type, the virtual pipeline systems market has been divided into standard trailer and towable trailer. The standard trailer segment held a larger market share in 2023.
- In terms of gas, the market has been segmented into CNG, hydrogen, and others. The CNG segment dominated the market in 2023.
- In terms of pressure rating, the market has been segmented into less than 3000 Psi, 3001 to 5000 Psi, and more than 5000 Psi. The 3001 to 5000 Psi segment dominated the market in 2023.
- In terms of application, the market has been segmented into industrial, transportation, commercial, and residential. The transportation segment dominated the market in 2023.
Virtual Pipeline Systems Market Share Analysis by Geography
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.
Virtual Pipeline Systems Market Report Scope
Virtual Pipeline Systems Market News and Recent Developments
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:
- In January 2022, PETRONAS delivered 1,000 tonnes of liquefied natural gas (LNG) using its Virtual Pipeline System & 40 VPS & 41 technology. The creative PETRONAS solution, which started operating in 2020, has provided off-grid consumers with over 16 million kg of low-carbon energy using vehicles outfitted with cryogenic tanks. (Source: PETRONAS, Press Release/Company Website/Newsletter)
- In May 2022, Chart Industries, Inc. acquired CSC Cryogenic Service Center AB. to strengthen its footprint in the Nordic Region. (Source: Chart Industries, Inc., Press Release/Company Website/Newsletter)
Virtual Pipeline Systems Market Report Coverage and Deliverables
The “Virtual Pipeline Systems Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering the following areas:
- Virtual Pipeline Systems Marketsize and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Virtual Pipeline Systems Market Trends
- Detailed PEST and SWOT analysis
- Virtual Pipeline Systems Market analysis covering key market trends, Global and regional framework, major players, regulations, and recent market developments
- Virtual Pipeline Systems MarketIndustry, landscape and competition analysis, covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Gas, Pressure Rating, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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