Market Size of Asia Pacific Pipeline Maintenance Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 2.20 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Pipeline Maintenance Market Analysis
The Asia Pacific pipeline market is expected to record a CAGR of more than 2.2% throughout 2022-2027. The outbreak of COVID-19 in Q1 of 2020 negatively impacted the market. Lockdown restrictions imposed by various regions have caused a delay in pipeline construction and maintenance activities across the Asia Pacific. As an example, the Oil and Natural Gas Corporation (ONGC) in India delayed the pipeline replacement project phase in May 2020 because of the COVID-19 outbreak. Order to keep output from ageing pipeline systems and cater to the growing energy demand by expanding oil and gas pipeline infrastructure are just a few of the factors driving the pipeline maintenance services market. Other factors include the development of unconventional oil and gas sources leading to pipeline expansion. In the coming years, high construction costs and delays in implementing projects may restrain market growth.
- The pipeline repair & maintenance segment is expected to have a significant market share. Globally, corrosion is the leading cause of pipeline damage. Corrosion is estimated to account for the majority of pipeline operational and maintenance costs, indicating corrosion control services' importance.
- Existing old pipeline is likely to offer ample opportunities to the market studied.
- China is expected to dominate the market, due to the increasing government invesments in natural gas pipeline insfrastructure.
