Pipeline & Process Services Market

BHGE (US) and Halliburton (US) are the Key Players in the Pipeline & Process Services Market

The global pipeline & process services market is projected to reach USD 4.0 billion by 2024 from an estimated USD 3.3 billion in 2019, at a CAGR of 4.3% during the forecast period. The growing demand for crude oil & natural gas, especially from the Asia Pacific region, and the demand for safe, economical, and reliable connectivity have increased the demand for pipeline & process services.

The pipeline & process services market is a highly fragmented market. The leading players in the pipeline & process services market who have a wide regional presence are Halliburton (US), BHGE (US), EnerMech (UK), IKM (Norway), and Hydratight (UK).  

The major strategies adopted by the players include investments & expansions, mergers & acquisitions, joint ventures, partnerships & collaborations, and contracts & agreements. Contracts & agreements was the most commonly adopted strategy from January 2016 to June 2019. These industry players also adopted mergers & acquisitions and expansions as major strategies during this period.  

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BHGE (US), founded in 2016, is one of the leading providers of products, services, technology, information solutions, and integrated project management solutions across the global oil & gas value chain. BHGE was formed as a result of a merger between GE Oil & Gas (UK) and Baker Hughes Incorporated (US) in July 2017. The intention of the merger was to form a new full-stream digital industrial services company. The company operates its business primarily through 4 segments, which are oilfield services, oilfield equipment, turbomachinery & process solutions, and digital solutions. The company offers its wide portfolio of process & pipeline services under the digital solutions segment. The pipeline & process services portfolio of the company comprises pre-commissioning, maintenance, and decommissioning services for midstream and downstream operations. BHGE conducts operations through affiliates, subsidiaries, alliances, and ventures and operates in more than 120 countries globally. The company has various manufacturing and research & development centers, mostly located in the US, Canada, Germany, Norway, the UK, China, India, as well in some countries of the Middle Eastern region. In June 2018, BHGE was awarded a contract by Chevron, for its Gorgon LNG Project Phase 1. Under the contract, BHGE provided the pipeline pre-commissioning services, and along with that the company also delivered gas turbines and subsea production systems.

Halliburton (US), established in 1919, is one of the leading service providers and product suppliers in the upstream, midstream, and downstream sectors of the oil & gas industry. The company provides 14 Product Service Lines (PSLs) under 2 main divisions, namely, drilling & evaluation and completion & production. The company offers its wide range of product & service portfolio of pipeline & process services under the completion & production division. Halliburton provides pipeline and process services such as pre-commissioning, commissioning, maintenance, and decommissioning PPS services for onshore & offshore operations. The company also provides product & services such as cementing, production solutions, artificial lift, production enhancement, multi-chem, and completion tools under its completion & production division. The company operates globally in more than 80 countries. The Halliburton pipeline & process services completion & production division, manufacturing facilities, and research & development centers are mostly located in the UK, Malaysia, and the US. In July 2018, Halliburton acquired Athlon Solutions. This acquisition will strengthen Halliburton’s chemicals technology, manufacturing, and supply chain, and would help the company provide better customer service and assist the customers in ensuring integrity of well and pipeline assets.

Related Reports:

Pipeline & Process Services Market by Asset Type (Pipeline: Transmission, Distribution; Process: FPS, Refinery& Petrochemical, Gas Storage& Processing) Operation(Pre-commissioning& Commissioning, Maintenance, Decommissioning) Region-Global Forecast to 2024

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Report Code
EP 7282
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