Report projects growth in global oil and gas pipeline market
The global oil and gas pipeline market is projected to surpass $61 billion by 2022, according to Research and Markets’ report, “Global Oil & Gas Pipeline Market by Application, By Type, By Region, Competition Forecast and Opportunities, 2012-2022.”
A decline in global crude oil prices prompted a drop in oil and gas exploration and transportation investments. The global oil and gas pipeline market experienced a marginal decline in value terms during 2014-2016. But with global crude oil prices stabilizing in 2016, the global oil and gas pipeline market is expected to grow during the next five years.
World industrial valve revenues expected to grow
World industrial valve revenues are expected to grow from $62 billion in 2017 to $88 billion in 2025. The traditional valve market will grow at 3 percent per year. New route to market through remote operations and maintenance (remote O&M) will grow by 13 percent.
The Industrial Internet of Things (IIoT) is shaping the way valves will be purchased and advances in IIoT will drive demand for valve automation and communication of valve health and performance, according to market research company The McIlvaine Company.
Companies like Emerson, Flowserve, Pentair, GE and others are already pursuing this market and have generated revenues of $7 million.
ASTM International proposes 15 additive-manufacturing standards
Standards development organization ASTM International and its committee on additive manufacturing proposed 15 new standards to help companies in that industry comply with a new checklist for accreditation by the National Aerospace and Defense Contractors Accreditation Program. The checklist is available through the Performance Review Institute. This effort will supplement existing specifications published since 2012 for metal powder bed fusion.
The new standards will be offered for development in conjunction with the International Standards Organization’s Technical Committee 261 through a Partner Standards Developing Organization agreement with ASTM International.
Report forecasts filtration and separation IIoT, remote O&M market to reach $20B
Largely bolstered by the Industrial Internet of Wisdom’s impact on the IIoT, the filtration and separation IIoT and remote O&M market will see $10 billion in growth by 2026, according to The McIlvaine Company.
This will divert another $10 through different market routes in 2016, according to market analyst The McIlvaine Company. Filtration and separation equipment and consumables will drive more than $95 billion in sales in 2016, of which $20 billion will be due to the impact of IIoT and remote O&M.