Press release
Proliferation of Global Pipeline Networks Propelling Growth in Pipeline Integrity Management Market: Anticipated Market Size, CAGR, and Emerging Trends
Proliferation of Global Pipeline Networks
The global pipeline integrity management market is expected to grow vigorously, capitalizing on increasing safety concerns, evolving technology, and regulatory standards
What Is The Projected Market Size Of The Global Pipeline Integrity Management Market And Its Growth Rate?
• Market size in 2024: $10.14 billion
• Projected size in 2025: $10.77 billion (CAGR: 6.1%)
• Anticipated size for 2029: $13.41 billion (CAGR: 5.6%)
The market's strong growth is being driven by stringent regulatory standards, aging pipeline infrastructure, incident prevention and safety concerns, risk-based inspection strategies, integration of data analytics, and a shift towards condition-based maintenance.
What Is Driving The Growth In The Pipeline Integrity Management Market?
The rapid expansion of the global oil and gas pipeline network is driving the pipeline integrity management market forward. Pipeline Integrity Management (PIM) is a critical method used by operators to ensure pipelines' safety and integrity, especially in the transportation of hazardous liquids and natural gas. As per an article by Global Energy Monitor in 2023, approximately 69,700 kilometers of gas transmission pipelines were under construction globally, marking an 18% increase from 2022. This expansion represents a whopping investment of US$193.9 billion for 2023, fueling the growth of the PIM market.
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Who Are the Key Players Driving Pipeline Integrity Management Market Growth?
• T. D. Williamson Inc.
• Bureau Veritas Group
• Emerson Electric Co.
• Baker Hughes Company
• TÜV Rheinland Holding AG & Co. KG
• SGS SA
• Det Norske Veritas Co.
• Aegion Corporation
• Aker Solutions ASA
• Audubon Engineering Company LLC
• Matcor Inc.
• Fluor Corporation
• General Electric Company
• Halliburton Company
• Infosys Limited
• Intertek Group PLC
• Pembina Pipeline Corporation
• Shawcor Ltd.
• TechnipFMC PLC
• EnerMech Ltd.
• TWI Ltd.
• ROSEN India Private Ltd.
• NDT Global GmbH & Co. KG
• Applus+ RTD
• MISTRAS Group Inc.
• Corrpro Companies Inc.
• Quest Integrity Group LLC
• ABB Ltd.
• Wood Group Mustang PLC
• Penspen Ltd.
• Petrofac Limited
• Oceaneering International Inc.
• STATS Group Limited
• IKM Testing AS
• Enduro Pipeline Services Inc.
• Onstream Pipeline Inspection Services Inc.
• Dynamic Risk Assessment Systems Inc.
• Corrosion Service Company Limited
What Are The Key Trends In The Pipeline Integrity Management Market?
• Shift towards condition-based maintenance
• Emergence of government initiatives for safety standards
• Increasing focus on remote monitoring and inspection
• Implementation of predictive maintenance
• Rise in investment for infrastructure renewal
• Adoption of digital twin technology
• Bolstering of risk-based integrity management
• Concentration on data integration and visualization
• Development of leak detection technologies
What Are The Segments Of The Global Pipeline Integrity Management Market?
The market is segmented by:
• Service Type: Inspection Services, Cleaning Services, Repair and Refurbishment Services
• Sector: Crude Oil, Natural Gas
• Location Of Deployment: Onshore, Offshore
Which Region Leads The Pipeline Integrity Management Market?
North America had the largest market share in 2024, whereas Asia-Pacific is expected to show the fastest growth in the forecast period. The report covers regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Pipeline Integrity Management Global Market Report?
- Market Size Analysis: Analyze the Pipeline Integrity Management Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Pipeline Integrity Management Market for effective categorization.
- Key Player Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Pipeline Integrity Management Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Pipeline Integrity Management Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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