Virtual Pipeline Systems Market is likely to be worth US$ 2,123.9 Mn by the end of 2027 from US$ 1,205.0 Mn in 2018. Between the forecast years of 2019 and 2027, the market is expected to surge at a CAGR of 6.5%.
What is Virtual Pipeline System?
It is a system that is used for the transportation of gas from one point to another point without using the pipeline network.
It can be either overland in containers by rail or road, or through water, by barges or ocean-going tankers.
This virtual pipeline system is primarily used for natural gas supplies. This kind of system is used for industries that are geographically difficult to approve an investment in pipeline structures.
The virtual pipeline system has various uses in several industries. They are used in the industries, commercial and residential consumers, as well as electricity generation plants for the arrangement of natural gas by road, rail or sea.
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Virtual Pipeline Systems market is split by Type and by Application. For the period 2016-2026, the growth among segments provide accurate calculations and forecasts for revenue by Type and by Application. This analysis can help you expand your business by targeting qualified niche markets.
Market segment by Type, covers
Market segment by Application, can be divided into
Market segment by players, this report covers
Xpress Natural Gas
Compass Natural Gas
Global Partners LP
Market segment by regions, regional analysis covers
North America (United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Australia, and Rest of Asia-Pacific)
South America (Brazil, Argentina, Rest of South America)
Middle East & Africa (Turkey, Saudi Arabia, UAE, Rest of Middle East & Africa)
Industrial Sector to Be the Leader with Multiple Applications
The market for virtual pipeline systems is segmented on the basis of the application and the region. In terms of application, the virtual pipeline systems market is divided into transportation, industrial and residential & commercial. Quantitatively the industrial segment held greater than 50 per cent of the market share in the year 2018. It is divided into different sectors like power generation, fertilizers, and many other fields requiring natural gas to ensure smooth operations.
However, transportation is comprised of automobiles that run on natural gas. The demand for natural gas-powered automobiles is anticipated to continue to be high, as regulations on emissions are becoming more stringent. The implementation of the government’s norms and laws that reduce greenhouse gases is predicted to be beneficial for this sector in the coming years. The residential and commercial segments need natural gas to cool and space heating as well as small-scale energy generation.
Based on the region, the virtual pipeline systems market is classified as Asia Pacific, Latin America, North America, Middle East & Africa, as well as Europe. In 2018, North America dominated the virtual pipeline system market by more than 40 per cent of the market and was predicted to continue the same pattern throughout the forecast time. The Asia Pacific is expected to keep an eye on this dominance over the next few years as China’s economic growth is growing. The vast virtual pipelines that are dotted across China as a result of the vast system of CNG stations is likely to place Asia Pacific virtual pipeline systems on the map.
Developing Economies to Positively Impact the Global Virtual Pipeline Systems Market in The meantime, the Demand for Cleaner Fuels Remains at a High.
In addition, as developing nations like India and China are working towards an environment that would be a cleaner environment, they will likely be major consumers of natural gas. This growing trend is expected to aid in helping the Asia Pacific expand at a substantial rate over the time frame forecast. The rising preference to use alternative fuels that are more sustainable than fossil ones is anticipated to play a major factor in the development of the market in the region. The increasing investment in natural gas in emerging economies in the Asia Pacific is also expected to exert a significant impact on the market overall.
The ageing pipeline infrastructures around the globe, stringent rules pertaining to carbon emissions regulations, various strategies, and programs that focus on the modernization of infrastructure acts and the determination of a lot of oil and gas market participants to support the use of natural gas with low emissions are key factors that are expected to increase the growth of the virtual pipeline systems in the world.
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