Asia Pacific Virtual Pipeline Systems Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Type (Standard Trailer and Towable Trailer), Gas (CNG, Hydrogen, and Others), Pressure Rating (Less than 3000 Psi, 3001 Psi to 5000 Psi, and More than 5001 Psi), and Application (Industrial, Transportation, and Commercial & Residential)
The virtual pipeline systems market in Asia Pacific is expected to grow from US$ 414.22 million in 2022 to US$ 700.41 million by 2028. It is estimated to grow at a CAGR of 9.1% from 2022 to 2028.
Growing Inclination towards Consumption of Natural Gas
Increased investments in natural gas research and development by oil & gas and energy businesses are anticipated to provide significant growth opportunities for the future growth of companies in the virtual pipeline system market. These R&D activities are mainly driven by their goal of promoting the use of low-emission natural gas products. Virtual pipeline vendors focus on technology innovations, new product launches, product approvals, and geographic expansion to capture larger consumer and market base volume. Furthermore, Asia Pacific countries have significantly transitioned towards natural gas consumption. For instance, Malaysia is on course to becoming an LNG bunkering hub, with Petronas' first LNG bunkering vessel (LBV). Malaysia is also expected to increase gas supply via its virtual pipeline system (VPS). In September, national gas company Petronas launched its first LNG VPS solution in Peninsular Malaysia via the regasification terminal in Pengerang, Johor. This follows the earlier success of micro-LNG VPS facilities by Sabah Energy Corp at the Kota Kinabalu Industrial Park (KKIP) that serves the Sabah state. Hence, the rising transition toward natural gas is anticipated to create lucrative opportunities for the virtual pipeline system market. Further, aging pipeline infrastructure has been a major concern for governments across the region. As a result, they are striving to find alternatives to the conventional methods of oil and gas transportation. Hence, strict government regulations for ensuring environmental protection from carbon emissions and oil spills are anticipated to create lucrative opportunities for the virtual pipeline market vendors.
Market Overview
China, India, South Korea, Japan, and Australia are among the key economies in APAC. The swift developments in technologies, favourable initiatives by governments, digitalization of economies, and increasing disposable income of the middle-income class group are among the factors propelling the region's overall economic growth. As a result of the massive network of CNG stations, the country has a sprawling virtual pipeline network. China and India are projected to be major natural gas consumers owing to their focus on creating a cleaner environment. Energy consumption of APAC is anticipated to rise by up to 48% by 2050. The IEA projects that China will lead the Asia Pacific energy consumption with a share of 30% by 2025. The natural gas imports of the country have been rising steadily and would reach 138.371 cm in 2020. CNPC, China National Offshore Oil Corporation, and other state-owned businesses in China have plans to increase output at nearby gas fields, increasing the demand for pipelines in the area. India is also updating its gas pipeline infrastructure to be able to effectively meet the rising energy demand. The Indian government planned a pipeline project for the union territory of Jammu and Kashmir in the annual budget for 2021. The country also expects to invest US$ 66 billion in the construction of the gas infrastructure, which includes gas pipelines, compressed natural gas (CGD), and LNG regasification terminals. It further intends to increase the share of natural gas in the energy mix to 15% by 2023. In December 2020, the Indian government announced an investment of US$ 60 billion for building gas pipeline infrastructure for the extension of CGD pipeline networks in 232 different regions in the nation by 2024. Thus, the expansion of pipeline infrastructure and rising demand for virtual pipeline system. are the key contributors to the growth of the virtual pipeline system market in APAC. In October 2019, Gas Malaysia Virtual Pipeline Sdn Bhd (GMVP) and Kulim Green Energy Ventures Sdn Bhd signed a gas purchase agreement. Kulim Green Energy Ventures Sdn Bhd is a joint venture between Kulim (M) Bhd, O'Rec IND Sdn Bhd, and MTC Engineering Sdn Bhd. According to the agreement, GMVP would purchase biomethane from Kulim Green Energy for injection into the Natural Gas Distribution System (NGDS) network of Gas Malaysia. The company plans to convert palm oil mill wastewater into biomethane, which would then be upgraded to NGDS network natural gas specifications. Such agreements and collaborations between energy companies are further expected to support the virtual pipeline system market growth in APAC countries in the coming years.
Asia Pacific Virtual Pipeline Systems Market Revenue and Forecast to 2028 (US$ Million)
Asia Pacific Virtual Pipeline Systems Market Segmentation
The Asia Pacific virtual pipeline systems market is segmented into type, gas, pressure rating, application, and country.
Based on type, the market is segmented into standard trailer and towable trailer. The standard trailer segment held a larger market share in 2022.
Based on gas, the market is segmented into CNG, hydrogen, and others. The CNG segment held the largest market share in 2022.
Based on 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.
Based on application, the market is segmented into industrial, transportation, and commercial & residential. The transportation segment held the largest market share in 2022.
Based on country, the market is segmented into China, Japan, India, South Korea, Australia, and the Rest of Asia Pacific. China dominated the market share in 2022.
Galileo Technologies S.A.; Bayotech, Inc.; Petroliam Nasional Berhad (PETRONAS); RAG Austria AG; Quantum Fuel Systems LLC.; Chart Industries, Inc.; SHIJIAZHUANG ENRIC GAS EQUIPMENTCO.LTD; Fiba Technologies Inc.; Hexagon Agility; and Composite Advanced Technologies, LLC are the leading companies operating in the virtual pipeline systems market in the region.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Asia Pacific Virtual Pipeline Systems Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 Asia-Pacific
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. Asia Pacific Virtual Pipeline Systems Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Energy Demands Creating Need for Virtual Pipeline Systems
5.1.2 Rising Shale Gas Extraction Driving Demand for Virtual Pipeline System
5.2 Market Restraints
5.2.1 Significant Dominance of Conventional Pipeline Infrastructure
5.3 Market Opportunities
5.3.1 Growing Inclination towards Consumption of Natural Gas
5.4 Future Trends
5.4.1 Growing Investment in VPS Technologies
5.5 Impact Analysis of Drivers And Restraints
6. Virtual Pipeline Systems – Asia Pacific Market Analysis
6.1 Asia Pacific Virtual Pipeline Systems Market Overview
6.2 Asia Pacific Virtual Pipeline Systems Market Revenue Forecast and Analysis
7. Asia Pacific Virtual Pipeline Systems Market – By Type
7.1 Overview
7.2 Asia Pacific Virtual Pipeline Systems Market, By Type (2021 and 2028)
7.3 Standard Trailer
7.3.1 Overview
7.3.2 Asia Pacific Standard Trailer: Virtual Pipeline Systems Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Towable Trailer
7.4.1 Overview
7.4.2 Asia Pacific Towable Trailer: Virtual Pipeline Systems Market – Revenue and Forecast to 2028 (US$ Million)
8. Asia Pacific Virtual Pipeline Systems Market – By Gas
8.1 Overview
8.2 Asia Pacific Virtual Pipeline Systems Market, By Gas (2021 and 2028)
8.3 CNG
8.3.1 Overview
8.3.2 Asia Pacific CNG: Virtual Pipeline Systems Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Hydrogen
8.4.1 Overview
8.4.2 Asia Pacific Hydrogen: Virtual Pipeline Systems Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Asia Pacific Others: Virtual Pipeline Systems Market – Revenue and Forecast to 2028 (US$ Million)
9. Asia Pacific Virtual Pipeline systems Market – By Pressure Rating
9.1 Overview
9.2 Asia Pacific Virtual Pipeline Systems Market, By Pressure Rating (2021 and 2028)
9.3 Less than 3000 Psi
9.3.1 Overview
9.3.2 Asia Pacific Less than 3000 Psi: Virtual Pipeline Systems Market – Revenue and Forecast to 2028 (US$ Million)
9.41 Psi to 5000 Psi
9.4.1 Overview
9.4.2 Asia Pacific 3001 Psi to 5000 Psi: Virtual Pipeline Systems Market – Revenue and Forecast to 2028 (US$ Million)
9.5 More than 5001 Psi
9.5.1 Overview
9.5.2 Asia Pacific More than 5001 Psi: Virtual Pipeline Systems Market – Revenue and Forecast to 2028 (US$ Million)
10. Asia Pacific Virtual Pipeline Systems Market – By Application
10.1 Overview
10.2 Asia Pacific Virtual Pipeline Systems Market, By Application (2021 and 2028)
10.3 Industrial
10.3.1 Overview
10.3.2 Asia Pacific Industrial: Virtual Pipeline Systems Market – Revenue and Forecast to 2028 (US$ Million)
10.4 Transportation
10.4.1 Overview
10.4.2 Asia Pacific Transportation: Virtual Pipeline Systems Market – Revenue and Forecast to 2028 (US$ Million)
10.5 Commercial & Residential
10.5.1 Overview
10.5.2 Asia Pacific Commercial & Residential: Virtual Pipeline Systems Market – Revenue and Forecast to 2028 (US$ Million)
11. Asia Pacific Virtual Pipeline Systems Market – Country Analysis
11.1 APAC: Virtual Pipeline Systems Market
11.1.1 APAC: Virtual Pipeline Systems Market – Revenue and Forecast to 2028 (US$ Million)
11.1.2 APAC: Virtual Pipeline Systems Market, By Key Country
11.1.2.1 Australia: Virtual Pipeline Systems Market – Revenue and Forecast to 2028 (US$ Million)
11.1.2.1.1 Australia: Virtual Pipeline Systems Market, By Type
11.1.2.1.2 Australia: Virtual Pipeline Systems Market, By Gas
11.1.2.1.3 Australia: Virtual Pipeline Systems Market, By Pressure Rating
11.1.2.1.4 Australia: Virtual Pipeline Systems Market, By Application
11.1.2.2 China: Virtual Pipeline Systems Market – Revenue and Forecast to 2028 (US$ Million)
11.1.2.2.1 China: Virtual Pipeline Systems Market, By Type
11.1.2.2.2 China: Virtual Pipeline Systems Market, By Gas
11.1.2.2.3 China: Virtual Pipeline Systems Market, By Pressure Rating
11.1.2.2.4 China: Virtual Pipeline Systems Market, By Application
11.1.2.3 India: Virtual Pipeline Systems Market – Revenue and Forecast to 2028 (US$ Million)
11.1.2.3.1 India: Virtual Pipeline Systems Market, By Type
11.1.2.3.2 India: Virtual Pipeline Systems Market, By Gas
11.1.2.3.3 India: Virtual Pipeline Systems Market, By Pressure Rating
11.1.2.3.4 India: Virtual Pipeline Systems Market, By Application
11.1.2.4 Japan: Virtual Pipeline Systems Market – Revenue and Forecast to 2028 (US$ Million)
11.1.2.4.1 Japan: Virtual Pipeline Systems Market, By Type
11.1.2.4.2 Japan: Virtual Pipeline Systems Market, By Gas
11.1.2.4.3 Japan: Virtual Pipeline Systems Market, By Pressure Rating
11.1.2.4.4 Japan: Virtual Pipeline Systems Market, By Application
11.1.2.5 South Korea: Virtual Pipeline Systems Market – Revenue and Forecast to 2028 (US$ Million)
11.1.2.5.1 South Korea: Virtual Pipeline Systems Market, By Type
11.1.2.5.2 South Korea: Virtual Pipeline Systems Market, By Gas
11.1.2.5.3 South Korea: Virtual Pipeline Systems Market, By Pressure Rating
11.1.2.5.4 South Korea: Virtual Pipeline Systems Market, By Application
11.1.2.6 Rest of APAC: Virtual Pipeline Systems Market – Revenue and Forecast to 2028 (US$ Million)
11.1.2.6.1 Rest of APAC: Virtual Pipeline Systems Market, By Type
11.1.2.6.2 Rest of APAC: Virtual Pipeline Systems Market, By Gas
11.1.2.6.3 Rest of APAC: Virtual Pipeline Systems Market, By Pressure Rating
11.1.2.6.4 Rest of APAC: Virtual Pipeline Systems Market, By Application
12. Industry Landscape
12.1 Overview
12.2 New Product Launch
12.3 Merger and Acquisition
13. Company Profiles
13.1 Bayotech, Inc.
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Petroliam Nasional Berhad (PETRONAS)
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 RAG Austria AG
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Quantum Fuel Systems LLC.
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Chart Industries, Inc.
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 SHIJIAZHUANG ENRIC GAS EQUIPMENT CO., LTD.
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Fiba Technologies Inc
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Hexagon Agility
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. Asia Pacific Virtual Pipeline Systems Market Revenue and Forecast to 2028 (US$ Million)
Table 2. APAC: Virtual Pipeline Systems Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 3. APAC: Virtual Pipeline Systems Market, By Gas – Revenue and Forecast to 2028 (US$ Million)
Table 4. APAC: Virtual Pipeline Systems Market, By Pressure Rating – Revenue and Forecast to 2028 (US$ Million)
Table 5. APAC: Virtual Pipeline Systems Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 6. APAC: Virtual Pipeline Systems Market, By Country – Revenue and Forecast to 2028 (US$ Million)
Table 7. Australia: Virtual Pipeline Systems Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 8. Australia: Virtual Pipeline Systems Market, By Gas – Revenue and Forecast to 2028 (US$ Million)
Table 9. Australia: Virtual Pipeline Systems Market, By Pressure Rating – Revenue and Forecast to 2028 (US$ Million)
Table 10. Australia: Virtual Pipeline Systems Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 11. China: Virtual Pipeline Systems Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 12. China: Virtual Pipeline Systems Market, By Gas – Revenue and Forecast to 2028 (US$ Million)
Table 13. China: Virtual Pipeline Systems Market, By Pressure Rating – Revenue and Forecast to 2028 (US$ Million)
Table 14. China: Virtual Pipeline Systems Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 15. India: Virtual Pipeline Systems Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 16. India: Virtual Pipeline Systems Market, By Gas – Revenue and Forecast to 2028 (US$ Million)
Table 17. India: Virtual Pipeline Systems Market, By Pressure Rating – Revenue and Forecast to 2028 (US$ Million)
Table 18. India: Virtual Pipeline Systems Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 19. Japan: Virtual Pipeline Systems Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 20. Japan: Virtual Pipeline Systems Market, By Gas – Revenue and Forecast to 2028 (US$ Million)
Table 21. Japan: Virtual Pipeline Systems Market, By Pressure Rating – Revenue and Forecast to 2028 (US$ Million)
Table 22. Japan: Virtual Pipeline Systems Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 23. South Korea: Virtual Pipeline Systems Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 24. South Korea: Virtual Pipeline Systems Market, By Gas – Revenue and Forecast to 2028 (US$ Million)
Table 25. South Korea: Virtual Pipeline Systems Market, By Pressure Rating – Revenue and Forecast to 2028 (US$ Million)
Table 26. South Korea: Virtual Pipeline Systems Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 27. Rest of APAC: Virtual Pipeline Systems Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 28. Rest of APAC: Virtual Pipeline Systems Market, By Gas – Revenue and Forecast to 2028 (US$ Million)
Table 29. Rest of APAC: Virtual Pipeline Systems Market, By Pressure Rating – Revenue and Forecast to 2028 (US$ Million)
Table 30. Rest of APAC: Virtual Pipeline Systems Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 31. List of Abbreviation
LIST OF FIGURES
Figure 1. Asia Pacific Virtual Pipeline Systems Market Segmentation
Figure 2. Asia Pacific Virtual Pipeline Systems Market Segmentation – By Country
Figure 3. Asia Pacific Virtual Pipeline Systems Market Overview
Figure 4. Asia Pacific Virtual Pipeline Systems Market, By Type
Figure 5. Asia Pacific Virtual Pipeline Systems Market, By Country
Figure 6. Asia-Pacific – PEST Analysis
Figure 7. Asia Pacific Virtual Pipeline Systems Market- Ecosystem Analysis
Figure 8. Asia Pacific Virtual Pipeline Systems Market Impact Analysis of Drivers and Restraints
Figure 9. Asia Pacific Virtual Pipeline Systems Market Revenue Forecast and Analysis (US$ Million)
Figure 10. APAC: Virtual Pipeline Systems Market Revenue Share, by Type (2021 & 2028)
Figure 11. Asia Pacific Standard Trailer: Virtual Pipeline Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 12. Asia Pacific Towable Trailer: Virtual Pipeline Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13. APAC: Virtual Pipeline Systems Market Revenue Share, by Gas (2021 & 2028)
Figure 14. Asia Pacific CNG: Virtual Pipeline Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 15. Asia Pacific Hydrogen: Virtual Pipeline Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. Asia Pacific Others: Virtual Pipeline Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. APAC: Virtual Pipeline Systems Market Revenue Share, by Pressure Rating (2021 & 2028)
Figure 18. Asia Pacific Less than 3000 Psi: Virtual Pipeline Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. Asia Pacific 3001 Psi to 5000 Psi: Virtual Pipeline Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. Asia Pacific More than 5001 Psi: Virtual Pipeline Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. APAC: Virtual Pipeline Systems Market Revenue Share, by Application (2021 & 2028)
Figure 22. Asia Pacific Industrial: Virtual Pipeline Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. Asia Pacific Transportation: Virtual Pipeline Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. Asia Pacific Commercial & Residential: Virtual Pipeline Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. APAC: Virtual Pipeline Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. APAC: Virtual Pipeline Systems Market Revenue Share, by Key Country (2021 & 2028)
Figure 27. Australia: Virtual Pipeline Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28. China: Virtual Pipeline Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. India: Virtual Pipeline Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 30. Japan: Virtual Pipeline Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 31. South Korea: Virtual Pipeline Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 32. Rest of APAC: Virtual Pipeline Systems Market – Revenue and Forecast to 2028 (US$ Million)
- Galileo Technologies S.A.
- Bayotech, Inc.
- Petroliam Nasional Berhad (PETRONAS)
- RAG Austria AG
- Quantum Fuel Systems LLC.
- Chart Industries, Inc.
- SHIJIAZHUANG ENRIC GAS EQUIPMENT CO., LTD
- Fiba Technologies Inc.
- Hexagon Agility
- Composite Advanced Technologies, LLC.
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Asia Pacific virtual pipeline systems market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in Asia Pacific virtual pipeline systems market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.