Pipeline Integrity Market: 2021 COVID-19 Impact Sales Revenue, Development Strategy, Growth Potential, Analysis and Business Distribution

 

Market Highlights

The global pipeline integrity market size is projected to reach USD 2.14 Billion by 2024 from an estimated USD 1.80 billion at a 4.34% CAGR from 2019–2024. Pipeline integrity is a method to ensure the safety and reliance in pipelines and its components. The proper design and construction of pipeline integrity system provides safety, prevents corrosion, and comes with advanced technology. Monitoring and software service of pipeline integrity include monitoring with SCADA systems and detecting invisible hydrocarbon vapors.  

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North America held the largest share of the global pipeline integrity market in 2018: MRFR

The global pipeline integrity market has been segmented into five regions, which are Asia-Pacific, North America, Europe, the Middle East & Africa, and South America. The largest market size of North America can be attributed to the presence of several oilfield services companies and the use of new technologies, especially in the US. Digitalization in the oil & gas industry, shale gas exploration in the US, and supportive government plans for upstream oil and gas applications are expected to drive the market for pipeline integrity in this region.

The market in Asia-Pacific is expected to be the second largest owing to the increase in drilling activities due to improving crude oil prices. Additionally, the oil & gas industry in the region is likely to showcase positive trends owing to the rising demand, increasing commodity prices, and ongoing mergers and acquisitions. The increase in pipeline installations in Southeast Asian countries is expected to boost the market for pipeline integrity in the region during the forecast period.

On the basis of service, the global market is segmented as testing services, inspection services, monitoring services, and software services. The testing services segment is expected to dominate the global market during the forecast period as this type of pipeline integrity service is mostly used for pipelines, truck racks, hot pits, loading arms, and secondary containments. On the basis of application, the global market has been divided into onshore and offshore. The onshore segment is expected to dominate the global pipeline integrity market as oil and gas operators are encouraged to invest in onshore oil and gas activities. For instance, within the US onshore sector, in 2018, the capital expenditure accounted for USD 45 billion compared to USD 38 billion in 2017. This represented a 13.6% rise in the total investment made in 2018 as compared to 2017. This growing trend shows a positive outlook for onshore sector in the overall oil & gas industry. On the basis of product, the global market is segmented into oil, gas, and refined products. The oil & gas segment is expected to dominate the global pipeline integrity market as pipeline integrity systems are extensively used for locating problems in an oil or gas well. The gas segment is expected to dominate the market as this segment is driven by the availability of shale gas and the rising discovery of liquefied natural gas.

The global pipeline integrity market is expected to grow at 4.34% CAGR during the forecast period.

Key Players

The key players operating in the global pipeline integrity market are Rosen (Switzerland), Dacon Inspection Technologies (Thailand), Baker Hughes, A GE Company (US), Altus Intervention (Sweden), Enermech (UK), Intertek (UK), IKM Gruppen (Norway), Lin Scan (UAE), T.D. Williamson (US), Applus (Spain), Quest Integrity Group (US), Schneider Electric (France), and Emerson (US).

Scope of the Report

This report provides an in-depth analysis of the global pipeline integrity market, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size and share for North America, Asia-Pacific, Europe, the Middle East & Africa, and South America. The report also presents a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global pipeline integrity market by service, application, product, and region.

  • By Service
    • Testing Services
    • Inspection Services
    • Monitoring Services
    • Software Services
  • By Application
    • Onshore
    • Offshore
  • By Product
    • Oil
    • Gas
    • Refined Products
  • By Regions
    • North America 
    • Asia-Pacific 
    • Europe
    • Middle East & Africa
    • South America

 

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About Market Research Future:

Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR’s methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.

Our rapidly expanding market research company is assisted by a competent team of research analysts who provide useful analytics and data on technological and economic developments. Our deemed analysts make industrial visits and collect valuable information from influential market players. Our main goal is to keep our clients informed of new opportunities and challenges in various markets. We offer step-by-step assistance to our valued clients through strategic and consulting services to reach managerial and actionable decisions.

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