Pipeline Integrity Management Market

Market Overview:

The global pipeline integrity management market reached a value of US$ 9.45 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 11.93 Billion by 2027, exhibiting a CAGR of 3.70% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Pipeline integrity management (PIM) is a system comprising surveillance cameras and sensors, fiber-optic cables, and temperature sensors that checks for leakages and prevents hazards. It helps in pressure testing and evaluating pipeline discontinuities and soil conditions. It also enables operators to determine the time of failure depending on the corrosion rate and places on a pipeline that are most susceptible to corrosion. As a result, it is used to address different aspects, including health, safety, and environment (HSE), engineering, inspection, maintenance, and other branches of pipeline labor.

Pipeline Integrity Management Market Trends:

There is a significant expansion of the oil and gas pipeline network on account of the rising migration of people from rural to urban areas and consequently surging energy requirements across the globe. This represents one of the key factors driving the market. Moreover, governments of several countries are implementing stringent regulations to ensure maximum safety, smooth operations and timely check of pipelines to avoid mishappenings, such as leakages and accidents. This, along with the rising construction of natural gas pipelines as they emit less harmful emissions compared with gasoline and coal, is positively influencing the market. In addition, there is a considerable increase in pipeline infrastructure development to increase the reliability of the pipeline. This, coupled with the growing utilization of PIM solutions to share real-time information of pipeline networks to control rooms, is contributing to the growth of the market. Furthermore, key market players are launching digital integrity management systems that help keep individual pipeline records traceable, complete, and verifiable. These players are also focusing on mergers and acquisitions (M&A) and collaborations to enhance their product quality, which is projected to increase their overall profitability.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global pipeline integrity management market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on sector, service type and location of deployment.

Breakup by Sector:

• Crude Oil
• Gas
   

Breakup by Service Type:

• Inspection Services
• Cleaning Services
• Repair and Refurbishment Services
   

Breakup by Location of Deployment:

• Onshore
• Offshore
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being 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 Coverage:

Key Questions Answered in This Report:

• How has the global pipeline integrity management market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global pipeline integrity management market?
• What are the key regional markets?
• What is the breakup of the market based on the sector?
• What is the breakup of the market based on the service type?
• What is the breakup of the market based on the location of deployment?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global pipeline integrity management market and who are the key players?
• What is the degree of competition in the industry?