Market Size of Pipeline Integrity Management Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 3.21 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Pipeline Integrity Management Market Analysis
The pipeline integrity management market is expected to register a CAGR of around 3.21% during the forecast period. The pipeline integrity management market is one of the worst-hit industries during the COVID-19 pandemic. Since the pipeline projects witnessed delays due to imposed lockdown restrictions in major countries like the United States, India, and other countries. The decreased gas demand due to the decline in electricity consumption and travel restrictions also affected gas consumption in several countries negatively. Major factors driving the market studied are the rising exploration and production (E&P) development of unconventional oil and gas sources leading to the pipeline expansion, the bid to maintain output from aging pipeline systems, and the need to cater to the rising energy demand by increasing the oil and gas pipeline infrastructure. The increasing preference for marine vessels over subsea pipelines for the oil and gas trade between countries separated by sea has negatively impacted the demand for the market studied.
- Natural gas is expected to witness a significant increase globally, resulting in an increased demand for natural gas pipeline infrastructure, which in turn culminates in the growth of the pipeline integrity management market during the forecast period.
- More than 80% of the pipelines are located onshore. The United States has a mandate for pipeline maintenance every year. Therefore, these large number of projects are expected to contribute to a major opportunity for pipeline integrity management services.
- Asia-Pacific is dominating the market, mainly due to the shale boom. This has resulted in huge demand for the expansion of the pipeline network and its capacity.
