Global Pipeline Integrity Management Market to Reach US$ 13.7 Billion by 2032, Propelled by Increasing Cases of Pipe Leakages

April 13, 2023 | Energy & Mining

According to the latest report by IMARC Group, titled "Pipeline Integrity Management Market Report by Sector (Crude Oil, Gas), Service Type (Inspection Services, Cleaning Services, Repair and Refurbishment Services), Location of Deployment (Onshore, Offshore), and Region 2024-2032," the global pipeline integrity management market size reached US$ 10.3 Billion in 2023. Pipeline integrity management (PIM) is the process of ensuring that a pipeline system remains safe, reliable, and efficient throughout its operational lifespan by identifying and mitigating potential risks, such as corrosion, mechanical damage, and third party interference. It comprises surveillance cameras and sensors, fiber-optic cables, and temperature sensors that check for leakages and prevent hazards. It aids in reducing the likelihood of accidents, spills, and other incidents that can harm people, property, and the environment. It also helps in pressure testing and evaluating pipeline discontinuities and soil conditions.

Global Pipeline Integrity Management Market Trends:

The increasing occurrences of pipe leakages, breaks, corrosion, or cracks, in oil, wastewater, and refined petroleum industries represent one of the major factors driving the demand for PIM around the world. Moreover, the rising migration of people from rural to urban areas and surging energy requirements is augmenting the growth of the market. In addition, governing agencies of numerous countries are undertaking measures to promote disaster management and workplace safety and meet operational standards. Apart from this, the growing construction of natural gas pipelines as they emit less harmful emissions associated with gasoline and coal counterparts is influencing the market positively. Furthermore, the advent of digital integrity management systems that assists in keeping the individuals pipeline records traceable, complete, and verifiable is contributing to the market growth. Besides this, the growing utilization of PIM solutions to share real-time information of pipeline networks to control rooms is creating a positive outlook for the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 13.7 Billion by 2032, exhibiting a CAGR of 3.18% during 2024-2032.

Market Summary:

On the basis of the sector, gas holds the largest market share, followed by crude oil.
Based on the service type, the market has been categorized into inspection, cleaning, and repair and refurbishment services. Repair and refurbishment services currently account for the biggest market share.
On the basis of the location of deployment, onshore currently exhibits a clear dominance in the market, followed by offshore.
Based on the region, the market has been divided into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others); Europe (Germany, France, United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico and others); and the Middle East and Africa. Amongst these, North America (the United States and Canada) enjoys the leading position in the market.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include Aker Solutions ASA, Baker Hughes Company, Bureau Veritas, DNV AS, Emerson Electric Co., Enbridge Inc., Infosys Limited, MATCOR Inc. (Brand Industrial Services Inc.), Pembina Pipeline Corporation, SGS S.A., Shawcor Ltd., T. D. Williamson Inc., and TÜV Rheinland.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Sector, Service Type, Location of Deployment, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Aker Solutions ASA, Baker Hughes Company, Bureau Veritas, DNV AS, Emerson Electric Co., Enbridge Inc., Infosys Limited, MATCOR Inc. (Brand Industrial Services Inc.), Pembina Pipeline Corporation, SGS S.A., Shawcor Ltd., T. D. Williamson Inc. and TÜV Rheinland.
Customization Scope	10% Free Customization
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Global Pipeline Integrity Management Market to Reach US$ 13.7 Billion by 2032, Propelled by Increasing Cases of Pipe Leakages

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