PIPELINE INTEGRITY MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)

Key Takeaways from Analyst

The market is expected to witness steady growth due to stringent government regulations regarding pipeline safety and leak detection. Growing concerns around environmental damage due to pipeline leaks boosts spending on pipeline integrity solutions. However, budgetary constraints faced by oil & gas operators in the current low commodity price environment can hamper the market growth.

North America currently dominates the global pipeline integrity market, owing to large pipeline network and proactive approach towards pipeline monitoring and maintenance in the region. The U.S. and Canada are upgrading aging pipeline infrastructure which provides numerous opportunities for integrity solution providers. Europe is another major regional market supported by EU mandatory directives for leak detection and risk assessment.

Europe region is likely to emerge as the fastest growing market for pipeline integrity. Countries like U.K., Germany, and France are witnessing increased pipeline construction to meet rising energy demands. This can boost the need for integrity management of the expanding pipeline network in these nations. The Middle East market can also witness growth at a healthy pace with the need to inspect pipelines passing through difficult terrains and regions prone to geohazards.