8:33 AM Pipeline Integrity Market Size to Grow at a CAGR of 4.5% |
| Pipeline Integrity Market is likely to witness an impressive CAGR of 4.5% during the forecast period, according to a newly added report by Stratview Research. This growth of the pipeline integrity market can be attributed to the enormous investment pool in the pipeline business, growing government mandate and regulations for pipeline assessment, concern over environmental impact, the safety of pipelines and energy infrastructure, and rising focus on the remote management of oil & gas pipeline for process optimization & automation.
The report offers detailed insights in relevant market segments, their growth rates, latest market trends, forecasts, and other important details. The market has been segmented in four ways and the report has more than 150 figures and tables providing the most comprehensive information about the market segments and their growth prospects for the forecast period.
Request a sample of the report here As per the report, among different service types, the inspection segment led the market in 2019, and is estimated to dominate the market during the forecast period. Increasing government regulations associated with the inspection of pipelines are the major factors expected to drive the market during the forecast period. Magnetic flux is the most used technology in inspection services. It is an obnoxious method of testing, which is used to detect corrosion, surface pitting, cracks, and weld defects. It scans the periphery and length of the pipeline helping determine the remaining wall thickness, depth, and location of metal, which is lost due to deterioration mechanisms. Based on the product type, the market is segmented as oil, gas, and refined product. The gas segment is estimated to lead the market owing to rise in demand for safe, economical, and reliable connectivity. The natural gas market has become more globalized, driven by the availability of shale gas and the increasing supplies of liquefied natural gas. Based on the application type, the pipeline integrity market is segmented as onshore and offshore. The onshore segment is expected to dominate the market and grow at a faster rate. Rising demand for oil & gas and environmental concerns related to its transportation are expected to drive the onshore segment during the forecast period. The onshore segment holds for various assessments, such as metal loss/corrosion, geometry deformation, and crack & leak detection. Metal loss/corrosion detection accounts for the largest share of the onshore pipeline applications. View the Table of Contents here North America is estimated to lead the pipeline integrity market during the forecast period. In the US, nearly 70% of the crude oil and petroleum products are shipped through pipelines; and in Canada, around 97% of natural gas and petroleum products are shipped through pipelines. As the demand for energy produced in the Americas continues to increase, the E&P activities would continue to surge further toward harsh environments. For example, most of recent oil & gas shale discoveries has been in remote areas. Transportation of these reserves from the harsh environment till storage locations needs more focus, which is expected to increase demand for pipeline integrity services in the region. Read the Full Report Description here The report further mentions about the key manufacturing players Rosen, Baker Hughes, a GE Company, NDT Global, T.D. Williamson, SGS, Schneider Electric, Emerson, Applus, Altus Intervention, Enermech, Intertek, IKM Gruppen, and Lin Scan. who are emerging fast and their roles in the growing market. It also portraits the important mergers, acquisitions, and other current happenings in the Pipeline Integrity Market that can be helpful for the interested clients in analysing the market and taking right decisions accordingly. Salient Features of the Report The report on Pipeline Integrity Market is a well-researched work after analysing of various data from different reliable sources. The report included some of the salient features such as:
About Stratview Research: Stratview Research is a global research company offering custom research and marker research reports for interested client in different sectors such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Healthcare & Life Sciences, and Oil & Gas. All the reports generated are based on proper data collected from reliable sources and are scrutinized carefully before releasing so that the interested clients and companies can make the most out of it. For inquiries, Contact: Ritesh Gandecha Stratview Research E-mail: sales@stratviewresearch.com Direct: +1-313-307-4176 |
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