Global Virtual Pipeline Systems Market
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Global Virtual Pipeline Systems Market was valued US$ 1.24 Bn. in 2019 and is estimated to grow at CAGR of 6.91 %, to reach US$ 1.98 Bn. during the forecast period from 2020 to 2027.
The report study has analyzed the revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and the same is reflected in our analysis.
Virtual-pipeline is an alternative method of transporting natural where no pipeline networks available. It is based on a modular system of compression or liquefaction, transport and decompression. The virtual-pipeline is a system that permits the natural gas transportation in the form of compressed/ liquefied gas by mobile platforms. It generates the flexibility for a more appropriate industrial location, and the possibility to have better utilization of geographical resources to better cost/benefit relation.
Global Virtual Pipeline Systems Market, Dynamics
The ageing pipeline infrastructures across the globe, stringent regulations associated with carbon emission control norms are some of the prominent factors, behind the growth of the global virtual pipeline systems market. An increase in demand for the energy resources and reliable & flexible virtual pipeline networks that use roadways, rail, and port shipments are also expected to boost the market growth. On the other hand, high risk characterized in the transportation of natural gas to end-users, mainly in isolated regions are expected to limit the global virtual pipeline systems market growth.
Global Virtual Pipeline Systems Market, Segment Analysis
The industrial sector is projected to hold 50% of the market share in terms of revenue and is expected to grow at a XX CAGR during the forecast period. Industrial is further sub-categorized into power generation, fertilizers, and other sectors that consistently require natural gas for continuous operations. Advancement in liquefaction technology provides dynamic supplies of electricity & heat of natural gas across the various sectors.
Natural gas is the cleanest fossil fuel in the conventional energy sources. It is used for numerous applications. It is distributed in two forms as compressed natural gas (CNG), and liquefied natural gas (LNG). Virtual pipelines are functioning as physical gas pipelines. Natural gas can be supplied to endpoints where the feasibility of physical pipeline infrastructure construction is low through virtual pipelines.
Currently, innovations in liquefaction technology and cost reductions are driving the conversion of the cooling of natural gas into liquid natural gas. It can be safely transported in small amounts without high compression. Many key players are focusing on the formation of the small-scale LNG-fueled power plants by virtual pipelines to expand the power factories, industrial parks and mines in remote locations.
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Last Update : 04 July 2020
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