Oil and gas are still quite profitable. According to IBISWorld, this market is set to bring in $51.5 billion in 2023. But there is a change going on, and pipeline fabrication is going to change with it. These are exciting developments because they give hope for a better and cleaner future. Here's what we expect to see in the next few years.

Getting Greener

According to an editorial by Zahi Ghantous in the September 2022 online edition of "The Pipeline Journal," some of the newer things in the industry are carbon capture and the overall push toward greener energy. That means that pipeline fabrication may wind up being altered so that they can transport things like hydrogen and CO2. He points to this as a game changer since they can use existing pipelines.

Building in the United States

According to Statista, there were four pipeline projects currently in progress in the United States in 2022, and two others were finished that same year. The industry has largely seemed to recover from the controversy of the Keystone Pipeline extension being shut down. If the industry makes the move to transport renewables, then it could get an even better public image.

Improving Technology and Methodology

In the past, many feared that the pipeline industry was becoming stagnant because we were still relying on the same technology we had been using for decades. However, in recent years, we have seen a boom in innovation. Everything from welding techniques to inspection methods has been improving over the past few years. This is great news when it comes to the safety and efficiency of pipelines, and there are many indications that these trends will continue.

Figuring Things Out for the Future

Since pipelines have a general lifespan of 50 years, according to Pipeline Safety Trust, that will give the next generation of people more time to figure out how to shift to the renewable sector and use the pipelines that are there without having to do extensive removal. It will be interesting to see what the future brings in this industry as a whole and how society powers itself.

Are you interested in learning more about pipeline fabrication and the state of the industry? We have plenty of resources to help you there. Contact Gunsmoke Energy Services LLC to learn more.