Overview and Scope
Pipeline integrity management (PIM) is a comprehensive strategy for understanding and managing pipelines securely and reliably. The process that ensures the distribution and transfer of natural gas, hazardous liquids, and other types of gas through pipelines must implement complete integrity management procedures in accordance with pipeline safety rules.
Sizing and Forecast
The pipeline integrity management market size has grown strongly in recent years. It will grow from $9.63 billion in 2023 to $10.22 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to stringent regulatory standards, aging pipeline infrastructure, incident prevention and safety concerns, risk-based inspection strategies, integration of data analytics..
The pipeline integrity management market size is expected to see strong growth in the next few years. It will grow to $12.83 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to shift towards condition-based maintenance, government initiatives for safety standards, focus on remote monitoring and inspection, integration of predictive maintenance, rise in investment for infrastructure renewal.. Major trends in the forecast period include adoption of digital twin technology, implementation of risk-based integrity management, focus on data integration and visualization, development of leak detection technologies..
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Segmentation & Regional Insights
The pipeline integrity management market covered in this report is segmented –
1) By Service Type: Inspection Services, Cleaning Services, Repair and Refurbishment Services
2) By Sector: Crude Oil, Natural Gas
3) By Location of Deployment: Onshore, Offshore
North America was the largest region in the pipeline integrity management market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pipeline integrity management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The significant expansion of the oil and gas pipeline network is driving the growth of the pipeline integrity management (PIM) market going forward. Pipeline integrity management (PIM) is a method that pipeline operators employ to assure the safety of a pipeline from conception through retirement. It is a collection of activities aimed at ensuring pipeline integrity. Pipeline integrity management in oil and gas pipeline networks contributes to the safety of hazardous liquids and natural gas transportation by increasing integrity assessments to avoid leaks or ruptures during routine operations and emergencies. For instance, in 2021, according to the US Energy Information Administration, a US-based energy agency, pipeline companies completed 14 petroleum liquid pipeline projects in the United States, including seven crude oil pipeline projects and seven hydrocarbon gas pipeline projects. Furthermore, in March 2021, according to the Ministry of Petroleum and Natural Gas, an India-based government, the Petroleum and Natural Gas Regulatory Board (PNGRB) authorized the construction of a 33,764-kilometer natural gas pipeline network to build the national gas grid and increase the supply of natural gas throughout the nation. Therefore, the significant expansion of the oil and gas pipeline network is driving the growth of the pipeline integrity management (PIM) market in the coming years.
Key Industry Players
Major companies operating in the pipeline integrity management market report are 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
The pipeline integrity management market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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