DUBLIN, January 24, 2023 /PRNewswire/ — The report “North America Virtual Pipeline Systems Market Forecast to 2028 – Impact of COVID-19 and Regional Analysis by Type, Gas, Pressure Rating and Application” has been added to ResearchAndMarkets.com’s offering.
Virtual Pipeline Market in North America is expected to grow from 334.17 million dollars in 2022 until 524.37 million dollars to 2028. It is estimated to grow at a CAGR of 7.8% from 2022 to 2028.
Increased energy requirements create the need for virtual piping systems
According to the latest edition of the IEA’s half-yearly report on electricity markets, North America energy demand grew by ~5% in 2021 after falling 1% in 2020 due to the COVID-19 pandemic. Demand is expected to grow by 4% in 2022, mainly due to the recovery North America economy, leading the way.
Moreover, in recent times natural gas has gained importance because it burns cleaner than conventional fossil fuels, such as coal, gasoline and diesel. The world is facing serious consequences North America warming, which is a convincing turn towards cleaner energy sources and natural gas. Virtual pipelines allow natural gas companies to extend their reach beyond their local market, thereby allowing them to expand their footprint.
Virtual pipelines are designed for land transportation of gas shipments in containers by rail or road; they can also be transported on water in coastal tankers and river ships. These systems can be used to supply natural gas to power plants and private customers who cannot participate in pipeline development due to geological constraints.
Virtual pipelines provide flexibility in the transportation of natural gas along with eliminating the need for large physical pipeline installations. Laying physical pipelines is not always feasible due to terrain or geopolitical issues, further driving the virtual pipeline market.
North America Virtual Pipeline Systems Market Segmentation
The North America The virtual piping system market is segmented by type, gas, pressure level, application, and country.
On the basis of type, the market is segmented into standard trailers and tow trailers. The standard trailer segment recorded higher market share in 2022.
On the basis of gas, the market is segmented into CNG, hydrogen and others. The CNG segment held the largest market share in 2022.
On the basis of pressure rating, the market is segmented into less than 3000 Psi, 3001 Psi to 5000 Psi and more than 5001 Psi. The 3001 Psi to 5000 Psi segment held the largest market share in 2022.
On the basis of application, the market is segmented into industrial, transportation and commercial, and residential. The transportation segment held the largest market share in 2022.
On the basis of country, the market is segmented into US, Mexicoand Canada. The US dominated the market share in 2022.
Key topics covered:
2. Key to take away
3. Research methodology
4. North America Virtual Pipeline Systems Market Landscape
5. North America Virtual Pipeline Market – Key Market Dynamics
6. Virtual Pipeline Systems – North America Market Analysis
7. North America Virtual Pipeline Systems Market – By Type
8. North America Virtual Pipeline Market – Gas
9. North America Virtual Pipeline Market – By Pressure Rating
10. North America Virtual Pipeline Systems Market – By Application
11. North America Virtual Pipeline Market – Country Analysis
12. Industrial landscape
13. Company Profiles
The mentioned companies
Galileo Technologies SA
Petroliam Nasional Berhad (PETRONAS)
Quantum Fuel Systems LLC.
Chart Industries, Inc.
Fiba Technologies Inc.
Composite Advanced Technologies, LLC.
For more information on this report, visit https://www.researchandmarkets.com/r/o3n225
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SOURCE Research and Markets