According to a new market report published by Lucintel, the future of the pipeline integrity market looks promising with opportunities in both onshore and offshore pipelines. The global pipeline integrity market is expected to grow with a CAGR of 4% from 2020 to 2025. The major drivers for this market are huge investment pool in the pipeline business, increased government mandate & regulations for pipeline assessment, and increased focus on the remote management of oil & gas pipeline for process optimization & automation.
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Pipeline integrity safeguards the pipeline to ensure all of its components are working properly and harmful chemicals are not released from the pipeline. In this market, oil, gas, and refined products are the major products for which pipeline integrity is used. Lucintel forecasts that gas will remain the largest product segment over the forecast period, as there is an increase in demand for safe, economical, and reliable connectivity.
Within this market, onshore will remain the largest application segment over the forecast period due to increasing demand for oil & gas and rising environmental concerns related to its transportation.
North America will remain the largest region, and it is also expected to witness the highest growth over the forecast period due to increasing demand for energy produced in the region, and recent oil & gas shale discoveries have been in remote areas from where transportation of these reserves from the harsh environment till storage locations needs more focus in the region.
Rosen, Baker Hughes, NDT Global, T.D. Williamson, SGS, Schneider Electric, Emerson, Applus, Altus Intervention, and Enermech are among the major suppliers in the global pipeline integrity market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global pipeline integrity market by service, application, product, and region. Lucintel has prepared a comprehensive research report titled “Growth Opportunities in the Global Pipeline Integrity Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global pipeline integrity market by service, application, product, and region as follows:
By Service [Value ($ Million) shipment analysis for 2014 – 2025]:
Ultrasonic
Magnetic Flux
Caliper
By Application [Value ($ Million) shipment analysis for 2014 – 2025]:
By Product [Value ($ Million) shipment analysis for 2014 – 2025]:
By Region [Value ($ Million) shipment analysis for 2014 – 2025]:
United States
Canada
Mexico
United Kingdom
Spain
Germany
France
This more than 150 page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or visit us at helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision makers in a variety of industries. For further information, visit www.lucintel.com.