Pipeline Integrity 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. Pipeline integrity ensures the proper functioning of pipeline and its auxiliary components. Additionally, it also makes sure that pipelines are designed, built, and operated in a safe, sustainable, and reliable way.
Get Free Sample Copy of “Pipeline Integrity Market Research Report – Global Forecast till 2024” at: https://www.marketresearchfuture.com/sample_request/8067
During the pipeline integrity process, pipelines are properly examined to detect and verify pipeline defects at any stage. The integrity of pipeline examination comprises the stages of in-line inspection, pressure-test verification, pressure-test verification, material verification, and direct assessment.
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).
Global Pipeline Integrity Market Segmentation:
The global Pipeline Integrity Market is segmented on the basis of service, application, product and region.
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.
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 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.
Get Complete Pipeline Integrity Market Research Report at: https://www.marketresearchfuture.com/reports/pipeline-integrity-market-8067
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar