Virtual Pipelines Market Share Projected to Reach USD 2,678.50 million, with a CAGR of 5.8% by 2030 – Report by Market Research Future (MRFR)
Virtual Pipelines Market Growth Boost by Rising Technologies and Higher Demand For Natural Gas Across the Globe
New York. US, April 04, 2023 (GLOBE NEWSWIRE) — According to a Comprehensive Research Report by Market Research Future (MRFR), “virtual pipelines market Information by Fuel Type, Mode of Transport and End-Use, and Region – Forecast till 2030″, The market for virtual pipelines can reach USD 2,678.50 million in value by 2030, with a CAGR of 5.8% from 2022 to 2030.
Virtual Pipelines Market Overview
In place of a physical pipeline, a virtual pipeline transports LNG from a gas source to the delivery point by rail, road, sea, or a combination of one or more of these modes of transportation. A cryogenic vessel is used to transport LNG from its sources, such as an import terminal, a dispensing location, or a liquefaction facility, to the delivery site where it will be consumed. The natural gas is delivered just as it would have via the conventional pipeline thanks to a regasification station, a multipurpose building that incorporates LNG storage, vaporization, and pressure regulation, as well as control systems.
Market Competitive Landscape:
The affluent companies in the virtual pipelines industry are
- 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.)
- Among others.
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The virtual pipelines market majority of top players make investments in R&D operations, which are likely to aid the industry in producing higher returns. Collaboration between market participants and influential market actors is probable. They have favorable in-store characteristics for market operation and expansion through 2029. The production and manufacturing facilities are better prepared to make goods in bulk that will aid in the industry’s growth and development on a worldwide scale thanks to the significant rise in financing and investment in the virtual pipelines market.
Virtual Pipelines Market COVID 19 Analysis
The unexpected emergence of the new coronavirus pandemic had a major impact on the growth outlook for the virtual pipelines market size and trends throughout the course of the projection period. During the forecast period, which will end in 2030, the global market will likely experience a significant backlash in fundamental processes like marketing, production, functioning, and manufacturing, which is already leading to serious problems and disruptions in the demand and supply chain mechanism. There is a growing lack of trained workers, raw materials, resources, and much more on the worldwide market, which might make it difficult for the industry to expand.
Virtual Pipelines Market Report Scope:
|Market Size 2030||2030: USD 2,678.50 Million|
|CAGR during 2022-2030||5.8% CAGR|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Fuel Type, Mode of Transport and End-Use|
|Key Market Opportunities||High demand for natural gas|
|Key Market Drivers||Increased production of natural gas Emerging markets as net importers and exporters of natural gas Rising number of liquefaction and regasification terminals obsolescence and inefficiency of existing infrastructure|
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Market USP Covered:
Virtual Pipelines Market Drivers:
The usage of a virtual pipeline should not be viewed as a long-term solution, but rather as a rapid means to deliver natural gas to locations where a conventional pipeline is neither technically or economically possible.
Without access to natural gas, the sector is constrained to producing goods and services through the use of energy sources, and it is unable to keep up with emerging technologies that may be more cost-effective, has lower emissions, be of higher quality, and be more dependable.
The industry/commercial operator can employ natural gas in the local market of any location, which is a cleaner energy source than oil by-products, by creating more competitive goods and services for internal and external rivals, so encouraging their penetration into new markets.
As this pipeline gives the flexibility for a more suitable industrial placement and the prospect of better use of geographic resources at a higher cost-benefit ratio, it consolidates natural gas use and gets the area ready for the use of conventional gas supplies in the future. In this situation, a newly built area might use the virtual-based pipeline system. The market is expanding as a result of this.
Virtual Pipelines Market Restraints:
Solar, wind, and other types of energy have developed tremendously over the world as a result of the rising need for sustainable energy. The capacity for renewable energy is growing, particularly in Europe. Investments in the development of infrastructure and the crude oil sector have decreased as a result of this. The virtual pipelines market growth is anticipated to be hampered by this. The International Monetary Fund (IMF) reports that major corporations have reduced their spending in oil infrastructure. Since 2014, there has been a reduction in investment and reserve replacement due to the quick depletion of oil reserves. In addition, the widespread use of natural gas is being hampered by price volatility, which is predicted to have a negative impact on the virtual pipelines market throughout the projected period.
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As natural gas is very combustible and needs to be handled and transported carefully, market expansion is anticipated to be hampered. The natural gas qualities that need specific care and insulation might alter due to variations in the typical temperature, which is anticipated to raise total maintenance expenses. Thus, it can prevent market expansion.
Virtual Pipelines Market Segmentation
The market for virtual pipeline systems is divided into common and unique varieties depending on the type.
Liquefied petroleum gas (LPG), liquid natural gas (LNG), compressed natural gas (CNG), propane, diesel, and oils are the many product categories under which the virtual pipeline systems market is divided.
As the most affordable alternative to expensive underground pipelines for delivering natural gas to remote places, CNG is expected to dominate. It is practical for travel up to 250 miles. Different fuels are moved through “virtual pipelines,” including hydrogen and renewable natural gas.
By Container Size
According to container size, the market for virtual pipeline systems is divided into type I, type II, type III, and type IV.
By Mode of Transportation
The market for virtual pipeline systems is divided into intermodal ISO tank containers, tanker rail cars, pipeline transport, reticulated gas systems or piped gas systems, road tankers, and local bobtail tankers based on the mode of transportation.
Industrial, transportation, commercial, and residential make up the market’s application segment for virtual pipeline systems.
A significant portion is anticipated to come from the transportation sector because of the rising demand for natural gas and renewable energy. Distributors of natural gas, such CNG and LNG stations, make up the transportation sector.
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Virtual Pipelines Market Regional Insights
Because of the U.S.’s significant virtual pipelines market share, accessible availability, and competitive pricing, North America now holds the top spot in the global market for virtual pipeline systems. The fast change in the preference for utilizing cleaner alternatives to fossil fuels and the large investments in natural gas in developing nations are the main reasons why Asia-Pacific is predicted to grow at a considerable growth rate over the projection period of 2022 to 2030.
Additionally, the market for virtual pipeline systems is anticipated to experience a number of growth opportunities over the coming years due to the rapid rise in concerns regarding the sustainability of energy sources, increased investment in research and development, and increased focus on low-emission natural gas usage among various energy and gas market players.
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