Pipeline Integrity Market Demand, Development Trends, Business Strategy, Segmentation Analysis and Forecast to 2024


Posted December 13, 2019 by DhanashreeP

The segmental evaluation of the pipeline integrity market has been segmented on the basis of application, service, product, and region.
 
Pipeline Integrity Market – Overview

The efficiency of pipelines in the oil and gas industry is of utmost importance to curb wastes and prevent accidents caused by leakages. Reports that analyze the energy and power industry has been presented by Market Research Future, which produces reports on industry verticals that appraise the market expansion and prospects. The market is estimated to accomplish a CAGR of 4.34% while earnings revenues worth USD 2.14 Billion by 2024.

The market for pipeline integrity is increasing favorably owing to the escalating environmental concerns that have taken center stage recently. Moreover, the concerns around the safety of pipelines & energy infrastructure are expected to further motivate the market for pipeline integrity in the coming years. Also, the demand for remote management of pipelines is expected to open up new prospects for growth in the upcoming forecast period.

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Segmental Analysis

The segmental evaluation of the pipeline integrity market has been segmented on the basis of application, service, product, and region.

On the basis of service, the pipeline integrity market has been segmented into inspection services, monitoring services, testing services, and software services.

Based on the applications, the pipeline integrity market is divided into offshore and onshore.

Based on the product, the pipeline integrity market is segmented into gas, oil, and refined products.

On the basis of regions, the pipeline integrity market is segmented into North America, the Middle East & Africa, Europe, Asia Pacific, and South America.

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Regional Analysis

The regional examination of the pipeline integrity market has been segmented into regions such as North America, the Middle East & Africa, Europe, Asia Pacific, and South America.

The principal market scope of the North American region can be accredited to the incidence of numerous oilfield services firms and the application of new technologies, particularly in the US. The digitalization of the oil & gas industry, shale gas search in the US, and encouraging government strategies for upstream oil and gas uses are projected to push the market for pipeline integrity in this region. The market in the Asia Pacific region is anticipated to be the next largest due to the upsurge in drilling activities owing to increasing crude oil prices. Moreover, the oil & gas industry in the region is expected to exhibit positive trends due to the increasing demand, growing commodity charges, and continuing trends of mergers and acquisitions. The upsurge in pipeline installations in the Southeast Asian nations is anticipated to improve the market for pipeline integrity in the region throughout the forecast period.

Competitive Analysis

The significant companies operating in the pipeline integrity market are Baker Hughes, Schneider Electric (France), A GE Company (US), T.D. Williamson (US), Applus (Spain), Rosen (Switzerland), Enermech (UK), Intertek (UK), IKM Gruppen (Norway), Lin Scan (UAE), Quest Integrity Group (US), Altus Intervention (Sweden), Dacon Inspection Technologies (Thailand), and Emerson (US).

Also Read: https://www.marketwatch.com/press-release/pipeline-integrity-market-2019-top-manufacturers-future-trends-business-opportunities-application-challenges-sales-revenue-and-comprehensive-research-study-till-2024-2019-09-10

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Categories Business , Energy
Tags pipeline integrity market
Last Updated December 13, 2019