According to the latest report by IMARC Group, “Global Pipeline Integrity Management Market Size, Share, Growth, Industry Trends, Opportunity and Forecast 2022-2027“, the global pipeline integrity management market reached a value of US$ 9.45 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 11.93 Billion by 2027, exhibiting a CAGR of 3.70% during 2022-2027.
Pipeline integrity management (PIM) refers to a system that comprises of surveillance cameras, temperature sensors, and fiber-optic cables custom-built for inspecting leakages and preventing hazards. It aids in pressure testing, evaluating soil conditions and discontinuities in the pipelines. PIM ensures the operators can determine the time of a failure based on the corrosion rate and spots on a pipeline that are most susceptible to corrosion. Consequently, it finds widespread applications across numerous pipeline processes, such as Healthy, Safety, and Environment (HSE) engineering, inspection services, repair and refurbishment services, etc.
| Report Metric |
| Historical: 2016-2021 |
| Base Year: 2021 |
| Forecast Year: 2022-2027 |
Pipeline Integrity Management Market Trends and Drivers:
The expanding oil and gas pipeline networks to cater to the growing energy requirements of people migrating from rural to urban areas are primarily driving the global pipeline integrity management market. Besides this, the implementation of various stringent regulations by the government bodies aimed at restricting mishappenings, including leakages and accidents, in operations of the pipeline is further augmenting the market growth.
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Additionally, the escalating construction of natural gas pipelines that emit less harmful emissions as compared to coal and gasoline is acting as another significant growth-inducing factor. Apart from this, the inflating need for sharing real-time information of pipeline networks to control rooms and the launch of digital integrity management systems by the key market players that keep individual pipeline records traceable, complete, and verifiable are anticipated to stimulate the pipeline integrity management market over the forecasted period.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Pipeline Integrity Management Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Aker Solutions ASA, Baker Hughes Company, Bureau Veritas, DNV AS, Emerson Electric Co., Enbridge Inc., Infosys Limited, MATCOR Inc. (Brand Industrial Services Inc.), Pembina Pipeline Corporation, SGS S.A., Shawcor Ltd., T. D. Williamson Inc. and TÜV Rheinland.
The report has segmented the market on the basis of region, sector, service type and location of deployment.
Breakup by Sector:
- Crude Oil
- Gas
Breakup by Service Type:
- Inspection Services
- Cleaning Services
- Repair and Refurbishment Services
Breakup by Location of Deployment:
- Onshore
- Offshore
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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