Global Pipeline Integrity Market

Pipeline Integrity Market Size, Share, Growth Analysis, By Type(Onshore, and Offshore), By Product(Oil, Gas), By Service(Inspection Services, Cleaning Services), By Sector(Crude Oil and Natural Gas) - Industry Forecast 2024-2031

Report ID: SQMIG15F2161 | Region: Global | Published Date: March, 2024
Pages: 157 | Tables: 115 | Figures: 71

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Pipeline Integrity Market size was valued at USD 1.95 billion in 2022 and is poised to grow from USD 2.03 billion in 2023 to USD 2.86 billion by 2031, growing at a CAGR of 4.34% in the forecast period (2024-2031).

The competitive environment of the Pipeline Integrity market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Established organizations within the industry leverage techniques inclusive of product innovation, strategic partnerships, and mergers and acquisitions to strengthen their market position. Additionally, the market is witnessing elevated opposition from local and neighborhood producers supplying cost-powerful options. 'Anderson Group (Taiwan)', 'MultiCam Inc. (U.S.)', 'The Shoda Company (Japan)', 'Exel CNC Ltd (U.K.)', 'Carbide 3D LLC (U.S.)', 'Biesse Group (Italy)', 'Thermwood Corporation (U.S.)', 'HOMAG Group (Germany)', 'ShopSabre (U.S.)', 'Komo Machine (U.S.)', 'AXYZ Automation Group (Canada)', 'Laguna Tools (U.S.)', 'Onsrud (U.S.)', 'Precix (U.S.)'

Increased Energy Requirements from Multiple Industries

Gasoline has lower levels of harmful natural gas than other petroleum products. This has made natural gas the fuel of choice in the transportation (CNG) industry, power generation and industrial sectors. Developed and developing countries are looking to increase the use of natural gas in various end-use industries by replacing coal and oil with natural gas in possible scenarios in all cases. This has led to the construction of new natural gas pipelines in various countries and opened opportunities for market players to offer their pipeline integrity measures.

North America in the pipeline integrity market will be characterized by advanced regional pipeline infrastructure, as well as the United States with highly developed oil and gas pipelines and the largest market in the world with many established companies themselves in the region. It has also helped attract investors. Canada is a formidable opponent when it comes to infrastructure to extract oil and gas. The United States leads the world in oil and gas pipeline design and has the highest market share in the country. Several key players in the market have also attracted investment. Canada is also a major force in the establishment of the oil and gas infrastructure. Oil trade with neighboring countries in the South American region also helped the market. For all these reasons, North America holds the largest share in the market.

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