Pipeline Integrity Management Market

The Pipeline Integrity Management Market is anticipated to grow at a CAGR of 3.8% from 2021 to 2027, from an estimated 8.82 billion in 2021 to 11.03 billion in 2027.

In order to guarantee safe and dependable operations, pipeline integrity management (PIM) is the technique of continuously assessing the pipeline utilized for the transfer of gas and oil. Concerns about the environment and public safety must be taken into account when building a pipeline. These pipelines contain highly combustible gases and liquids, therefore any leaks or accidents while they are in use would be extremely harmful to the climate and human life. PIM programmes are managed by pipeline owner-operators. The management programmes include every phase of the pipeline life cycle, beginning with conception and continuing through engineering, design, construction, operation, inspection, and eventually repair or replacement as needed.

Market Drivers and Restraints:

Energy consumption has increased across all application sectors as a result of rising population and migration from rural to urban regions. Renewable energy sources are now in the early stages of adoption; oil and gas still provide the majority of the world's energy needs. This aspect is expected to drive up the demand for oil and gas even further in the upcoming years throughout the globe. Increased manufacturing capacity, supply lines, and transportation lines will be required as a result, driving market growth.

Comparing natural gas to petroleum and other oil-based products, less harmful pollutants are produced. Due to this, natural gas has emerged as a preferred fuel in the CNG, industrial, and power generation sectors. Both developed and developing countries are eager to increase the use of natural gas in a variety of end-use sectors by substituting it for coal and oil in all conceivable circumstances. New natural gas pipelines have been built as a result, creating chances for market participants to provide their pipeline integrity management services across nations.

The largest danger to the PIM industry is the increasing use of renewable energy sources like solar and wind. The need for oil and gas will be completely eliminated by the greater usage of these resources as a result of their favorable economic and environmental effects. This will immediately have a detrimental effect on oil and gas output, which will then limit market expansion.

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The report is segmented as:

Pipeline Integrity Management Market is segmented on the basis of By Location, By Services.

By Location:

By Services:

Geographical Segmentation:

Pipeline Integrity Management Market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa, and the rest of the world.

North America is expected to have the dominant share in the Global Pipeline Integrity Management Market during the forecast period. In terms of oil and gas pipeline infrastructure, the United States is a global leader and commands the largest national market. Investment in this area has also been drawn by the existence of multiple significant companies in the industry.

Europe is also expected to hold the upper hand in the market, with a significant portion of production taking place in Russia before being transported to the surrounding nations. The market in the region was also influenced by other countries that produce oil and gas.

With increasing production and refining facilities in China and India, the Asia-Pacific region is predicted to develop at a fairly healthy rate in the next years. Over the past ten years, the area has also developed into one of the top energy users, raising the volume of imports.

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Impact of COVID-19 on the Market:

Every business has suffered because of the global health disaster brought on by the COVID-19. Due to the implementation of must followed regulations including nationwide lockdowns to stop the spread of the COVID-19 virus, industries had to lose a substantial amount of operating time. As a result, the COVID-19 disease epidemic has significantly changed the demand for crude oil and natural gas, which has caused a decline in oil prices. Due to travel limitations between countries, there has been a reduction in demand, which has caused the pipeline projects now underway to take longer to complete. Consequently, future investments in the management of the pipeline's integrity will be hindered.

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