Pipeline Maintenance Services Market Size

Pipeline Maintenance Service Market Analysis

The global pipeline maintenance service market is expected to grow at a CAGR of approximately 2.8% during the forecast period. The outbreak of the COVID-19 in Q1 of 2020 had negatively impacted the market. Lockdown restrictions imposed by various government across the globe has caused a delay in pipeline construction and maintenance activities across the world. For Example, In India, in May 2020, Oil and Natural Gas Corporation ONGC announced the delay in the pipeline replacement project phase due to the COVID-19 pandemic. Factors such as increasing development of unconventional oil and gas sources leading to the pipeline expansion, the bid to maintain output from aging 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.
• In the coming years, offshore regions such as the North Sea and the Gulf of Mexico will likely experience a high volume of pipeline decommissioning and abandonment. Moreover, it is estimated that within 30 years, more than 470 pipelines in the North Sea alone will require partial or complete removal. This, in turn, is expected to create a massive opportunity for the pipeline maintenance services market around the globe.
• North America is expected to dominate the market, with most of the demand coming from the United States and Canada.