Transparency Market Research states that the key players operating in the global virtual pipeline systems market are expected to enter strategic partnerships to stay ahead of the cutthroat competition. Some of the leading players in the global market are General Electric, Luxfer Holdings PLC, Hexagon Composites ASA, Pentagon Energy LLC, and Galileo Technologies S.A. Players are also expected to make significant investments discovery and development of natural gas sources in the coming years. Efforts to work toward a greener environment are expected to be an important part of expanding business in the near future.
According to the research report, the global virtual pipeline systems market is likely to be worth US$1,821.3 mn by the end of 2025 from US$1,070.0 mn in 2016. Between the forecast years of 2017 and 2025, the global market is expected to surge at a CAGR of 6.2%.
However, environmental legislation and direct intervention from governments and international bodies has augmented the growth of the virtual pipeline systems market. The EPA (Environmental Protection Agency) has revised and implemented various norms for the reduction of vehicular emissions and to improve the prevalent quality and efficiency of the fuels used. Therefore, OEMs have shifted their focus toward the usage of natural gas as a fuel source for heavy weight commercial vehicles and light passenger vehicles. Consequently, the virtual pipeline systems market has expanded at a significant growth rate due to adherence to the various norms and regulations about carbon emission.
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