Global Oil and Gas Pipes Market to Reach $115.4 Billion by 2030
In the changed post COVID-19 business landscape, the global market for Oil and Gas Pipes estimated at US$66.4 Billion in the year 2022, is projected to reach a revised size of US$115.4 Billion by 2030, growing at a CAGR of 7.2% over the analysis period 2022-2030.
Stainless Steel, one of the segments analyzed in the report, is projected to record a 7.8% CAGR and reach US$46.3 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Hdpe segment is readjusted to a revised 7.4% CAGR for the next 8-year period.
The Oil and Gas Pipes market in the U.S. is estimated at US$16.7 Billion in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$25.4 Billion by the year 2030 trailing a CAGR of 8.5% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.2% and 6.1% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 5.2% CAGR.
Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$12.8 Billion by the year 2030.
Select Competitors (Total 73 Featured)-
Chevron Corporation
BP PLC
ConocoPhillips Company
China National Petroleum Corporation (CNPC)
Baker Hughes Company
Borealis AG
American Cast Iron Pipe Company
American Piping Products, Inc.
China Steel Corporation (CSC)
ArcelorMittal SA (Luxembourg)
Chemical Process Piping Pvt. Ltd.
Arabian Pipes Company
Abu Dhabi Metal Pipes & Profiles Industries Complex L. L. C
China Metallurgical Information and Standardization Institute (CMISI)
CEF Group
Natural Gas (and Oil) Industry Has Come A Very Long Way!
The natural gas and oil industry has come a long way since its inception in the mid-19th century. From the first oil well drilled in Pennsylvania in 1859 to the advanced drilling technologies used today, the industry has evolved to meet the demands of a rapidly changing world.
In the early days of the industry, oil was mainly used for lighting and lubrication. However, as the world became increasingly industrialized, oil became a vital component in the production of everything from plastics to gasoline. The discovery of natural gas, a cleaner-burning fuel, in the early 20th century only added to the industry’s importance.
The industry has faced its fair share of challenges over the years, including environmental concerns and fluctuating prices. However, it has also made incredible advancements. For example, hydraulic fracturing, or “fracking,” has revolutionized the industry by allowing companies to extract natural gas and oil from previously inaccessible sources.
Another major development has been the rise of renewable energy sources, such as wind and solar power. While these sources still only account for a small percentage of the world’s energy production, their increasing popularity is a testament to the changing demands of consumers and governments alike. These sources are still in their infancy, making it vital for natural gas and oil to act as a backup source.
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IEA: Global Oil Demand to Peak Before End of Decade
CNBC - Global oil demand growth will trickle nearly to a halt in the coming years and peak this decade, according to the International Energy Agency, with Chinese consumption set to slow down after an initial pent-up recovery.
“The shift to a clean energy economy is picking up pace, with a peak in global oil demand in sight before the end of this decade as electric vehicles, energy efficiency and other technologies advance,” IEA Executive Director Fatih Birol said in a statement.
In its latest medium-term market report, published Wednesday, the agency forecasts that global oil demand under current market and policy conditions will rise by 6% from 2022 to reach 105.7 million barrels per day in 2028 on the back of the petrochemical and aviation sectors.
Annual demand growth, however, will thin down from 2.4 million barrels per day this year to 400,000 barrels per day in 2028.
Podcast Preview: Patrick Pouyanné, Chairman and CEO of Total Energies interviewed by Jason Bordoff of the Center on Global Energy Policy at Columbia University, School of International and Public Affairs
The oil and gas industry is at a crossroads. With the impacts of climate change becoming more severe every year, it’s clear that fossil fuel consumption must decline to prevent global warming from crossing a dangerous threshold.
Yet oil and gas companies posted record returns in 2022, driven by volatility in the global market. Many are making more investments in clean energy technologies, but it’s still a small share of their total capital expenditures. As the transition to clean energy gains momentum, these firms are balancing the requirements of the energy transition and the realities of today’s fossil fuel-dependent economy.
How can oil and gas majors reduce emissions while continuing to meet the global demand for fossil fuels? What role do they have in a clean energy transition? And how do their leaders see their position in an increasingly fractious and volatile global energy system?
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10 Reasons the Energy Mix Matters NOW
As the need to reduce greenhouse gas emissions gains momentum, the undercurrent of seismic cultural shifts is creating a challenging business landscape for energy companies to flourish. Indeed, varied energy-specific concerns continue to dominate the news cycle – both intra-industry related to technology modernization, scalability, adaptability, generational recruitment and more as well as environmental, societal and cultural issues of consumer resonance.
With energy companies a crossroad, Southern Gas Association CEO Suzanne Ogle is weighing in with some consequential insight. “I have a unique perspective on the importance of our nation’s energy mix and why it matters now more than ever,” Ogle notes. “There are 10 key reasons why a comprehensive energy mix is crucial to sustain, and further, America’s energy security, innovation, geopolitical stability and climate goals.”
1. Energy Supply and Demand Imbalance – Global Bottlenecks and Price Spikes
2. Solving Our Energy and Climate Needs
3. Energy Security
Click here for the entire feature from The OilWoman Magazine
The Crude Life Daily Radio News & Lifestyle Update
Joe Sinnott, host of The Energy Detox Podcast and the CEO of Witting Partners, responds to the question of whether professionals under 40 are entering the oil and gas industry.
Witting Partners helps energy industry leaders achieve and sustain peak performance by combining an unmatched blend of oil & gas experience, insight, and results with the power of leadership coaching, workshops, and keynotes so that you and your stakeholders don’t un-wittingly damage your odds of achieving long-term success.
Sinnott has been a resource for the industry with over 15 years of proven success stretching from the Gulf of Mexico to Appalachia, from service company to operator, and from drilling rig to downtown boardroom. For more info on Sinnott, visit his website or LinkedIn Profile Page.
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Award winning interviewer and broadcast journalist Jason Spiess and Content Correspondents engage with the industry’s best thinkers, writers, politicians, business leaders, scientists, entertainers, community leaders, cafe owners and other newsmakers in one-on-one interviews and round table discussions.
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Global Oil Demand Rising, Peak Oil Mentioned and Are Pros Under 40 Entering Oil and Gas