Pipeline Integrity Management Market is expected to grow at a robust CAGR
Global
Pipeline Integrity Management Market is expected to grow owing to increased
governmental pressure, pipeline evaluation regulations, and public
understanding of renewable energy throughout the forecast period.
According
to TechSci Research report, “Pipeline
Integrity Management Market - Global Industry Size, Share, Trends,
Opportunity, and Forecast 2018-2028”, the Global Pipeline Integrity
Management Market is expected to register robust growth during the
forecast period.
This
growth can be attributed to several factors, including the substantial investment
pool in the pipeline business, the implementation of government mandates and
regulations for pipeline assessment, the growing concern over environmental
impact, the emphasis on pipeline and energy infrastructure safety, and the
increased focus on remote management of oil and gas pipelines for process
optimization and automation.
Efforts
to mitigate greenhouse gas emissions from pipeline operations are gaining
traction. This encompasses optimizing compressor stations, minimizing fugitive
emissions, and leveraging advanced control systems.
The
adoption of environmentally friendly coatings and linings for pipelines aids in
corrosion prevention and reduces the reliance on chemical treatments, thereby
fostering environmental sustainability.
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over XX market data Figures spread through XX Pages and an in-depth TOC on the "Global Pipeline
Integrity Management Market."
Based
on sector, Natural
Gas segment is expected to dominate the market during the forecast period. The pipeline is widely recognized as the most
cost-effective method for long-distance transportation of natural gas, crude
oil, and petroleum products. The consumption of natural gas has experienced a
significant increase, reaching 3,822.8 billion cubic meters (bcm) in 2020, driven
by growing demand in key sectors such as power generation and transportation.
This upward trend is expected to persist in the coming years, stimulating the
development of gas pipeline infrastructure across various countries. Notably,
Russia maintained its position as the largest global LNG exporter, with annual
exports of 197.2 billion cubic meters of gas in 2020. The global LNG trade is
projected to experience substantial growth, further driving the demand for
natural gas pipeline networks. By 2030, the demand for natural gas is
anticipated to observe significant growth across all fuel types, primarily
propelled by environmental benefits and the pursuit of energy security in
regions like the Middle East & Africa and Asia-Pacific. Furthermore, in
January 2020, the Indian government approved USD 774 million for the
construction of a natural gas pipeline network in the northeast region as part
of a national gas grid that aims to connect remote areas within the country.
This ambitious 1,656 km pipeline project is scheduled for completion by 2023.
The emergence of new natural gas sources, including shale gas deposits, and the
resulting price dynamics have spurred international trade in natural gas. As a
result, the global LNG trade is expected to witness significant growth, leading
to increased demand for natural gas pipeline networks and, consequently,
driving growth in the pipeline integrity management market.
Based
on service type, Repair & Refurbishment Services segment is projected to
dominate the market throughout the forecast period. Corrective maintenance,
also known as reactive maintenance, entails promptly addressing identified
integrity issues. These issues encompass a broad spectrum, ranging from minor
repairs like fixing small leaks or coating damaged sections, to more extensive
repairs or replacements of pipeline components. Corrosion, particularly in
aging infrastructure, is a prevalent integrity issue in pipelines. Repair and
refurbishment services encompass corrosion control measures such as coating and
cathodic protection system installation and maintenance. In cases where
rehabilitation is not feasible or cost-effective, repair and refurbishment
services may encompass pipeline replacement projects. These projects can
involve the removal and replacement of entire pipeline sections or components.
Regulatory compliance necessitates comprehensive documentation of repair and
refurbishment activities, including inspection reports, maintenance records,
and incident reports. Proper reporting is vital for regulatory transparency. By
analyzing historical data and trends, repair and refurbishment services can
implement predictive maintenance strategies, enabling proactive repairs and
minimizing the risk of unexpected pipeline failures. In conclusion, the Repair
& Refurbishment Services segment constitutes a critical component of the
global pipeline integrity management market.
Key
market players in the Global Pipeline Integrity Management Market are:-
- Infosys
Limited
- Baker
Hughes Company
- Bureau
Veritas SA
- TUV Rheinland
- TD Williamson Inc.
- Emerson
Electric Co.
- SGS
SA
- EnerMech
Limited
- MATCOR
Inc.
- TWI
Ltd
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“North
America is expected to be the dominating region during the forecast period. The
region's pipelines encompass those catering to the upstream (exploration and
production), midstream (transportation), and downstream (refining and
distribution) segments of the oil and gas industry. Moreover, water and
wastewater pipelines play a pivotal role in municipal and industrial
applications.” said Mr. Karan Chechi, Research Director with TechSci Research,
a research-based global management consulting firm.
“Pipeline
Integrity Management Market – Global Industry Size, Share, Trends, Opportunity,
and Forecast Segmented By Sector (Crude Oil and Natural Gas), By Location of
Deployment (Onshore and Offshore), By Service Type (Inspection Services,
Cleaning Services and Repair & Refurbishment Services), By Region,
Competition 2018-2028,”
has evaluated the future
growth potential of Global Pipeline Integrity Management Market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Pipeline Integrity Management Market.
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