The global pipeline integrity
market is estimated to progress at 4.34% CAGR during the forecast period. 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.
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.
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Segmentation
On the basis of service, the global
market has been divided into testing services, inspection services, monitoring
services, and software services. The testing service segment is the largest
segment in the global market as this form of pipeline integrity testing is
required by industry regulations and could involve scheduled compliance,
emergency response for a suspected pipeline leak, and re-qualifying newly
repaired and constructed pipeline.
On the basis of application, the global
market is 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 & gas activities. For instance, within the US
onshore sector, in 2018, the capital expenditure was USD 45 billion compared to
USD 38 billion in 2017. This represented 13.6% rise in the total investment
made in 2018 as compared to 2017.
Regional Analysis
On the basis of region, the global pipeline
integrity market has been segmented into Asia-Pacific, North America, Europe,
the Middle East & Africa, and South America. North America holds the
largest share in the pipeline integrity market due to increased upstream
spending, which would boost the pipeline integrity demand in countries such as the
US, Canada, and Mexico. Moreover, increasing development and adoption of
unconventional oil and gas production and transportation techniques create growth
opportunities for the global pipeline integrity market. For instance, in June
2019, the US Department of Energy invested around USD 30 million in advanced
technologies for the discovering and processing unconventional oil & gas resources. All
these factors will boost the demand for pipeline integrity market in the
region.
Key
Players
The key players operating in the
global pipeline integrity market are Rosen (Switzerland), Baker Hughes, A GE
Company (US), T.D. Williamson (US), Applus (Spain), Altus Intervention
(Sweden), Enermech (UK), Intertek (UK), IKM Gruppen (Norway), Lin Scan (UAE),
Quest Integrity Group (US), Dacon Inspection Technologies (Thailand), Schneider
Electric (France), and Emerson (US).
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