Several years ago there was a book written on this very subject, I have a copy. The info is as follows: Optimum Pipe Size Selection, by Claude B. Nolte, Trans Tech Publications, Clausthal, Germany, 1978.
The chapter titles are as follows: 1. Fundamentals of optimum pipe size selection, 2. Least annual cost, 3. Selection according to pressure drop available, 4. Velocity allowable, 5. Two-phase flow, 6. Fluid mechanics parameters, 7. Preparations, 8. Pipe size selection for pump or compressor discharge, 9. Pipe size selection for pump or compressor suctions, 10. Pipe size selection for pressure drop allowable, 11. Steam piping for heating and reciprocating pumps, 12. Steam piping for turbines, 13. pressure let-down for gas, 14. Relief valve discharge headers, 15. Steam trap piping, 16. Two-phase flow applications, 17. Special velocity considerations, 18. Comparative capacities of pipes, 19. Mechods of approach, 20. Conclusion.
The book contains numerous examples of all types of piping applications, one to fit almost any circumstance. I highly recommend it!