Global Virtual Pipeline Market to Excel with a CAGR of 8.74% By 2033

08 May 2024

The market for virtual pipelines, encompassing tanker trucks, towed trailers, tank containers, and rail tank cars, is notably dominated by a few key players such as CIMC Vehicle, Daimler, and PACCAR (Kenworth and Peterbilt), who hold significant shares. This dominance by major manufacturers is clear from their market positions.

Recent strategic moves in this sector have primarily aimed at technological enhancements, highlighting these major players' efforts to consolidate their market presence further.

For instance, in October 2022, Trinity Industries secured a substantial $1.8 billion multi-year order from GATX to supply 6,000 tank cars over five years, with an annual delivery of 1,200 cars starting from 2024 to 2028.

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Global Virtual Pipeline Market Overview

In 2023, the global virtual pipeline market was valued at $6,130.7 million and is projected to climb to $14,171.7 million by 2033, demonstrating a compound annual growth rate (CAGR) of 8.74% over the decade.

To capitalize on this growth, manufacturers of tanker trucks and towed trailers for virtual pipelines should focus on strategic investments in research and development, robust production infrastructure, and forging significant partnerships.

This approach is particularly relevant as industry moves towards more sustainable and efficient gas transportation solutions, reflecting a broader trend towards environmental sustainability.

As demand for virtual pipeline solutions grows, companies adopting innovative strategies are poised to significantly influence the future landscape of the global virtual pipeline market and address the changing needs of the energy transportation sector.

Market analysis shows these leading companies can shape competition, influence pricing strategies, and set industry trends through their strategic initiatives. The market's concentration could endow suppliers with greater bargaining power, particularly in acquiring specialized components and materials essential for vehicle manufacturing.

Prominent players in the global virtual pipeline market include Galileo Technologies S.A., BayoTech, Wabash National Corporation, CIMC Vehicles (Group) Co., Ltd., Daimler Truck AG, PACCAR Inc, Quantum Fuel Systems LLC, Polar Tank Trailer, HEIL Trailer, Tremcar, CIMC Safeway Technologies Co., Ltd, Jingjiang Asian-Pacific Logistics Equipment Co., Ltd, Square Technology Group Co., Ltd (NTtank), Chart Industries, and Trinity Industries, Inc, among others.

Market Segmentation:

Segmentation 1: by Application
•    CNG
•    LNG
•    Hydrogen

Segmentation 2: by Product
•    Tanker Trucks
•    Towed Trailers
•    Tank Containers
•    Rail Tank Cars

Segmentation 3: by Region
•    North America: U.S., Mexico, and Canada
•    Europe: France, Germany, Italy, U.K., and Rest-of-Europe
•    Asia-Pacific: China, India, Japan, Australia, South Korea, and Rest-of-Asia-Pacific
•    Rest-of-the-World: Brazil, U.A.E., and Others

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Recent Developments in the Global Virtual Pipeline Market

  • In August 2022, Kinder Morgan finalized the purchase of North American Natural Resources, Inc., along with its related entities North American Biofuels LLC and North American-Central LLC, for a sum of $135 million. This deal included seven landfill gas-to-power facilities in Michigan and Kentucky. Following this acquisition, Kinder Morgan plans to convert four of these plants into renewable natural gas facilities, with a projected capital investment of about $175 million.
  • In June 2022, AVR initiated a collaboration with HaloSep AB, a company based in Sweden, to address the local management of hazardous gases and cleaning residues. HaloSep's innovative process mitigates hazardous waste into non-harmful and usable components, supporting a circular economy through the recovery of materials and reduction of the environmental impact of the plant.
  • In October 2021, Gas Malaysia and Malakoff Corporation Berhad established Malakoff – Gas Malaysia Cogen O&M Sdn Bhd as a strategic alliance. This partnership leverages their combined expertise and resources to provide Operations & Maintenance (O&M) services for a cogeneration plant in Malaysia.

Analyst View

According to Debraj Chakraborty, Principal Analyst, BIS Research, “The global energy landscape is undergoing a transformative shift with the rise of virtual pipelines, redefining the dynamics of gas transportation. By embracing digital innovation and flexibility, virtual pipelines are becoming instrumental in ensuring a resilient and efficient energy supply chain, heralding a new era in the global gas industry.”