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.
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