Pipeline Integrity Management Market

Pipeline Integrity Management Market

Growth Factors of Pipeline Integrity Management Market

The global pipeline integrity management market size was valued at USD 9.19 billion in 2023 and is projected to grow from USD 9.44 billion in 2024 to USD 14.13 billion by 2032, exhibiting a CAGR of 5.16% during the forecast period of 2024-2032.

The COVID-19 pandemic disrupted the Pipeline Integrity Management Market by inflicting delays in construction and maintenance because of lockdowns and team of workers shortages. However, it also underscored the significance of pipeline protection, leading agencies to put money into advanced monitoring technology, impeding the pipeline integrity management market growth.

Stricter rules drive the pipeline integrity management market, the need for improved safety, and rising investments in superior technologies. The growing older pipeline infrastructure and a focal point on asset management answers contribute to market growth as companies aim to enhance operational performance and reduce dangers.

Advanced facts analytics is a key trend within the pipeline integrity control marketplace. By leveraging synthetic intelligence (AI) and machine learning, operators can analyze pipeline facts to expect potential failures, allowing proactive preservation and reducing downtime, expanding the pipeline integrity management market share globally. Additionally, actual-time tracking of pipeline performance provides valuable insights, permitting operators to become aware of and cope with troubles immediately. This facts-driven technique enhances pipeline safety, reliability, and performance.

Comprehensive Analysis of Pipeline Integrity Management Market

The Pipeline Integrity Management (PIM) Market is segmented by area and service. It includes onshore and offshore categories, with offshore increase driven by elevated exploration sports in more profound and harsher environments with the aid of groups like Petrobras. The onshore phase is also developing due to the increase in shale gasoline use in North America and the rise in drilling inside the Middle East. Regarding services, the marketplace accommodates inspection, cleansing, and restoration and refurbishment. The repair and maintenance phase leads the market because of better fees associated with equipment replacement and monitoring and the need for periodic inspections to hold operational performance.

The North America region led the pipeline integrity management market by benefitting a size of USD 5.72 billion in 2023 due to its huge oil and fuel pipeline infrastructure; the U.S. is the global leader and holds the most significant market percentage at the US level.

The leading players in the Pipeline Integrity Management market significantly shape its growth trajectory and establish industry standards. Key companies, including Baker Hughes (United States), Enbridge (Canada), GE (United States), Schneider Electric (France), TC Energy (Canada), AVEVA (United Kingdom), Applus+ (Spain), NDT (United Kingdom), ROSEN (Switzerland), Infosys (India), Emerson (United States), DNV GL (Norway), and Larsen & Toubro (India), contribute to a competitive landscape, driving innovation and advancements within the market.

In March 2024, Equinor ASA granted a contract to DeepOcean, an ocean offerings provider, to conduct pipeline inspections and surveys on its North Sea pipelines in 2024. As a part of this agreement, DeepOcean will perform obligations consisting of pipeline inspections, seabed mapping, occasional pipeline surveys, and mild construction paintings.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 5.16% from 2024-2032

Unit Value (USD Billion)

Segmentation By Location

• Onshore
• Offshore

By Service

• Inspection Service
• Cleaning Service
• Repairs and Refurbishment

By Geography

• North America
• By Location
• By Service
• By Country
• U.S. (By Location)
• Canada (By Location)
• Europe
• By Location
• By Service
• By Country
• Ukraine (By Location)
• UK (By Location)
• Italy (By Location)
• Germany (By Location)
• Poland (By Location)
• Hungary (By Location)
• Netherlands (By Location)
• France (By Location)
• Russia (By Location)
• Rest of Europe (By Location)
• Asia Pacific
• By Location
• By Service
• By Country
• China (By Location)
• India (By Location)
• Australia (By Location)
• Southeast Asia (By Location)
• Rest of Asia Pacific (By Location)
• Latin America
• By Location
• By Service
• By Country

 Brazil (by Location)

 Mexico (By Location)

 Argentina (By Location)

 Rest of Latin America (By Location)

• Middle East & Africa
• By Location
• By Service
• By Country

 GCC (By Location)

 Iran (By Location)

 Algeria (By Location)

 Turkey (By Location)

 Egypt (By Location)

• Rest of Middle East & Africa ( By Location)

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