Pigging Technology to Continue Dominating Pipeline Integrity Management Market through 2023
Growing demand for oil & gas, anticipated revival of crude oil prices and rising number of pipeline accidents to drive global pipeline integrity management market through 2023
According to recently published TechSci Research report “Global Pipeline Integrity Management Market By Technology, By Application, By Region, Competition Forecast & Opportunities, 2013-2023’’, the global pipeline integrity management market is projected to cross $ 10.4 billion by 2023 on account of rising demand for oil & gas as exploration & production companies are focusing on ultradeep water to cater the growing demand. Moreover, expanding pipeline infrastructure, innovations in the pipeline integrity management services, rising crude oil prices and increasing incidents of pipeline leakages are further anticipated to augment demand for pipeline integrity management services across the globe in the coming years.
Browse 166 market data Figures spread through 176 Pages and an in-depth TOC on "Global Pipeline Integrity Management Market "
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On the basis of technology, the global pipeline integrity management market is segmented into pigging, cathodic protection and others, of which pigging technology accounted for the largest value share in the market in 2017. The segment is likely to maintain its dominance throughout the forecast period as well, on account of increase in the maintenance operations of pipelines and increasing production & consumption of crude oil & natural gas across the globe. Some of the major companies operating in the global pipeline integrity management market include Emerson Electric Co., Baker Hughes, Yokogawa Electric Corporation, Fluor Corporation, etc.
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“Increasing number of mergers and joint ventures coupled with expansion of city gas distribution networks across various countries is boosting demand for pipeline integrity management services, globally. Moreover, technological developments in the field of SCADA, DCS and Data security & integrity is proving out to be hugely beneficial for operators involved in pipeline integrity management. Additionally, increasing demand from downstream applications and stiff competition and increasingly stringent regulatory compliance is expected to further steer growth in the global pipeline integrity management market over the next five years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Pipeline Integrity Management Market By Technology, By Application, By Region, Competition Forecast & Opportunities, 2013-2023” has evaluated the future growth potential of global pipeline integrity management market and provides statistics and 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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