The global pipeline integrity market is estimated to progress at 4.34% CAGR during the forecast period. Pipeline integrity ensures the proper functioning of pipeline and its auxiliary components. Additionally, it also makes sure that pipelines are designed, built, and operated in a safe, sustainable, and reliable way.
During the pipeline integrity process, pipelines are properly examined to detect and verify pipeline defects at any stage. The integrity of pipeline examination comprises the stages of in-line inspection, pressure-test verification, pressure-test verification, material verification, and direct assessment.
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On the basis of service, the global market has been divided into testing services, inspection services, monitoring services, and software services. The testing service segment is the largest segment in the global market as this form of pipeline integrity testing is required by industry regulations and could involve scheduled compliance, emergency response for a suspected pipeline leak, and re-qualifying newly repaired and constructed pipeline.
On the basis of application, the global market is divided into onshore and offshore. The onshore segment is expected to dominate the global pipeline integrity market as oil and gas operators are encouraged to invest in onshore oil & gas activities. For instance, within the US onshore sector, in 2018, the capital expenditure was USD 45 billion compared to USD 38 billion in 2017. This represented 13.6% rise in the total investment made in 2018 as compared to 2017.
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On the basis of region, the global pipeline integrity market has been segmented into Asia-Pacific, North America, Europe, the Middle East & Africa, and South America. North America holds the largest share in the pipeline integrity market due to increased upstream spending, which would boost the pipeline integrity demand in countries such as the US, Canada, and Mexico. Moreover, increasing development and adoption of unconventional oil and gas production and transportation techniques create growth opportunities for the global pipeline integrity market. For instance, in June 2019, the US Department of Energy invested around USD 30 million in advanced technologies for the discovering and processing unconventional oil & gas resources. All these factors will boost the demand for pipeline integrity market in the region.
The key players operating in the global pipeline integrity market are Rosen (Switzerland), Baker Hughes, A GE Company (US), T.D. Williamson (US), Applus (Spain), Altus Intervention (Sweden), Enermech (UK), Intertek (UK), IKM Gruppen (Norway), Lin Scan (UAE), Quest Integrity Group (US), Dacon Inspection Technologies (Thailand), Schneider Electric (France), and Emerson (US).
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