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.
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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.
Global Virtual Pipeline Systems Market, Regional Analysis
North America region held the dominant position in 2019 and is projected to continue its dominance during the forecast period. The U.S and Canada are the major contributors in the regional growth. An increase in the investments in research & development activities, expansion in city gas distribution network and aging natural gas infrastructure are expected to drive the regional growth. The strict government regulations for emission control are one of the key drivers in the North America virtual pipeline systems market.
Global Virtual Pipeline Systems Market, Competitive Analysis
Some of the prominent key players are increasingly investing in the development of virtual pipelines that is expected to increase the revenue streams in the virtual pipeline systems market. Several energy and gas key players are focusing on growth strategies, which help to reinforce low-carbon, greener economies across the globe. For instance, ExxonMobil India LNG Limited has formed cooperation with Indian Oil Corporation Limited and Chart Industries, Inc. to establish a system of transportation infrastructure to expand gas access in India. Virtual pipeline systems will offer liquefied natural gas by road, rail and waterways to areas not connected by physical pipelines.
The objective of the report is to present a comprehensive analysis of the Global Virtual Pipeline Systems Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Virtual Pipeline Systems Market dynamics, structure by analyzing the market segments and projects the Global Virtual Pipeline Systems Market size. Clear representation of competitive analysis of key players By Pathogen Type, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Virtual Pipeline Systems Market make the report investor’s guide.
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Scope of the Global Virtual Pipeline Systems Market:
Global Virtual Pipeline Systems Market, By Fuel Type
• Compressed Natural Gas
• Liquefied Natural Gas
Global Virtual Pipeline Systems Market, By Application
• Commercial & Residential
Global Virtual Pipeline Systems Market, By Region
• North America
• Asia Pacific
• The Middle East and Africa
• Latin America
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