Pipeline Integrity Management Market Size increasing demand with Industry Professionals 2022-2031

The pipeline integrity management market is expected to register a CAGR of 2.25% during the forecast period . 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 ageing pipeline systems, and the need to cater to the rising energy demand by increasing the oil and gas pipeline infrastructure. The increasing preference toward marine vessel over subsea pipelines, for the oil and gas trade between countries separated by sea, has negatively impacted the demand for the market studied.

The onshore segment accounts for the largest share in the market studied. More than 80% of the pipelines are located onshore. The United States has sanctioned around 26 major onshore gas pipeline projects, during 2017-2018. The country has a mandate of pipeline maintenance every year. These large number of projects are expected to contribute to the demand for pipeline integrity management services, during the forecast period.

The LNG trade is expected to witness a significant increase globally, resulting in an increased demand for natural gas pipeline network as well, which, in turn, is an upcoming opportunity for the pipeline integrity management market.

North America accounts for the largest market, led by the United States, mainly due to the shale boom. This has resulted in a huge demand for the expansion of the pipeline network and its capacity.

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Key Market Trends

Increasing Natural Gas Pipeline Infrastructure

– By 2030, owing to factors, like environmental benefits and quest for energy security in regions, such as Asia-Pacific, the consumption of natural gas is expected to witness the fastest growth rates among all fuel types. The lower cost, in comparison to other fossil fuels, is also expected to supplement the demand for natural gas during the forecast period.
– The natural gas pipeline network is expected to grow in parallel with the increase in natural gas demand, which, in turn, is expected to positively impact the market studied in the future.
– Due to the advantages offered, such as reduction of transport volume by a factor of 600, liquefied natural gas or LNG is witnessing a continuously increasing share in the natural gas volumes traded, worldwide.
– Qatar continues to be one of the largest LNG exporters, a position it has been holding for over a decade.
– The LNG trade is expected to witness a significant increase globally, resulting in an increased demand for natural gas pipeline network as well, which, in turn, is an upcoming opportunity for the pipeline integrity management market.

North America Region to Dominate the Market

– North America dominated the global market share, in 2018. In a bid to maintain production from the aging pipelines and decommissioning of the old pipelines in the United States, the country has driven the demand for pipeline integrity management in the region. The United States has one of the largest networks of pipelines in the world. Approximately one-third of the total pipeline market in the country is used to transport crude oil, delivering millions of gallons of oil equivalent/day to various refineries, and export terminals.
– As of 2018, there are more than 210 natural gas pipeline systems, with a vast network of natural gas pipeline, which is used to transport natural gas across the country and to other countries.
– Moreover, with the production of shale gas increasing rapidly, the need to transport higher amount of dry gas has initiated various expansion and new pipeline projects.

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