Market Size of North America Pipeline Maintenance Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 2.50 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Pipeline Maintenance Market Analysis
The North America pipeline market is expected to record a CAGR of more than 2.5% throughout the forecast period 2022-2027. The outbreak of COVID-19 in Q1 of 2020 negatively impacted the market. Lockdown restrictions imposed by various government across the region has caused a delay in pipeline construction and maintenance activities across North America. Additionally, US pipeline operators like Pembina Pipeline Corp and Harvest Midstream are either delayed or stalled their projects due to the Covid-19 pandemic. Factors such as the increasing development of unconventional oil and gas sources leading to the pipeline expansion, the bid to maintain output from ageing pipeline systems, and the need to cater to the growing energy demand by expanding oil and gas pipeline infrastructure are some of the factors driving the demand for the pipeline maintenance services market. However, high construction costs and delays in the implementation of projects are expected to restrain the market's growth in the coming years.
- The pipeline repair & maintenance segment is expected to have a significant market share. Corrosion is the biggest contributor to pipeline damages globally. Corrosion is expected to have the most significant share of operational and maintenance costs of a pipeline, indicating the importance of corrosion control services.
- The United States is expected to dominate the market, with the fossil fuel industry still experiencing healthy demand and profits despite skyrocketing gasoline prices.
