PIPELINE INTEGRITY MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)
Global pipeline integrity market is estimated to be valued at USD 2.39 Bn in 2024 and is expected to reach USD 3.34 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 4.9% from 2024 to 2031. Pipeline networks are extensively used for transportation of crude oil, refined petroleum products, and natural gas across various regions. However, growing complexity of pipeline infrastructure and increasing instances of pipeline failures due to corrosion, geohazards, and third-party interference have been raising pipeline integrity and safety concerns. Various regulations have been implemented by government agencies around the world to ensure regular inspection, monitoring, and maintenance of pipeline assets. This has propelled pipeline operators to increasingly adopt integrated solutions for pipeline integrity management. Rising demand for repair and rehabilitation of aging pipelines can also boost adoption of pipeline integrity solutions.
Market Dynamics
Global pipeline integrity market growth is primarily driven by stringent government regulations regarding pipeline safety and monitoring. For example, pipeline integrity assessments ensure adherence to regulations and industry standards, fulfilling legal obligations, and maintaining a positive reputation. Growing complexity of pipeline networks and instances of pipeline ruptures have compelled regulatory authorities to mandate regular inspection and testing of pipelines. Aging of global pipeline infrastructure also requires pipeline integrity solutions for repair and rehabilitation activities. Development of new pipelines for transportation of oil and gas across longer distances presents growth opportunities for pipeline integrity solution providers. However, high initial investment requirements for pipeline integrity management poses challenge for small and mid-sized pipeline operators. Lack of skilled workforce and technology limitations in remote and harsh areas can hamper the market growth.
Key features of the study
- This report provides in-depth analysis of the global pipeline integrity market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global pipeline integrity market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Applus, Baker Hughes, Emerson, IKM Gruppen, Lin Scan, NDT Global, Rosen, Schneider Electric, SGS, T.D. Williamson, and GE Company
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- Global pipeline integrity market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global pipeline integrity market
Market Segmentation
Market Segmentation
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