A recent report published by Infinium Global Research on pipeline integrity market provides an in-depth analysis of segments and sub-segments in the global as well as regional pipeline integrity market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional pipeline integrity market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global pipeline integrity market. According to the report, the global pipeline integrity market is projected to grow at a CAGR of 4.0% over the forecast period of 2019-2025.
The primary concern of pipeline operators is to ensure continuously, safe and consistent operation while improving asset integrity and operational efficiency. Pipelines are a critical link in the oil and gas supply chain and are the safest method of transportation to carry petroleum products to market. Pipeline integrity is the application of selected engineering and management disciplines to ensure that a pipeline performs in accordance with its appropriate and planned functions. As the energy industry is preparing for a consistent digital transformation, another big development for improving the integrity of the pipeline systems by big data analytics is expected. As measurement technologies and techniques have developed, the capability to measure internal pipe corrosion and erosion directly has also developed. Computational pipeline monitoring standard recommends the use of real-time transient modeling as the most correct and consistent method for leak detection.
Increasing demand for oil & gas and huge investment pool in the pipeline business are the major driving factors of the pipeline integrity market. Furthermore, factors such as government regulations for pipeline assessment and safety of pipelines and energy infrastructure are also driving the growth of the market. Rising investments in pipeline infrastructure and advancements in the field of integrity management are fueling the growth of the pipeline integrity market. The demand for pipeline development is increased due to aggressive exploration projects around the world uncover new hydrocarbon sources. However, cross-border pipelines and difficulty in pipeline assessment are restraining market growth. Moreover, an introduction of the digital twin technology in pipeline operation is expected to provide growth opportunities to the market.
Geographically, North America dominates the global pipeline integrity market due to the increasing shale gas & oil production and favorable regulations related to the licensing of Exploration & Production (E&P) activities. The United States has a highly integrated network of pipelines for transferring natural gas throughout the continent.
The report on global pipeline integrity market covers segments such as type, service, and applications. On the basis of type, the sub-markets include oil, gas, and refined products. On the basis of service, the sub-markets include testing services, monitoring services, inspection services, and software services. On the basis of applications, the sub-markets include onshore, and offshore.
The report provides profiles of the companies in the market such as NDT Global, ROSEN Group, Baker Hughes, a GE Company, T. D. Williamson, Inc., SGS, Schneider Electric SE, Applus Services, Altus Intervention AS, EnerMech Limited, The Emerson Electric Co., and other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of pipeline integrity market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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