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The oil and natural gas industry are divided into three parts, which include upstream, midstream, and downstream. The midstream part generally consists of the transportation and storage of oil and natural gas. In order to transport the crude oil from wells to the refineries, various methods are used such as pipelines, oil tankers, and marine vessels, among others. The pipelines are among the primary means of crude oil transportation and are also used in the petroleum refineries. In order to ensure the smooth and efficient working of the pipelines, pipeline integrity management is used. Pipeline integrity management aids in increasing the security and integrity of data, identify and manage risks, and economic life management of pipelines, among others.
Based on type, pipeline integrity management is classified on the basis of its onshore and offshore applications. However, the onshore segment is expected to dominate the pipeline integrated market by type owing to the high number of onshore oil wells. By services, the pipeline integrity management market is bifurcated into inspection service, cleaning service and repair & refurbishment services. Pipeline integrity management helps to identify hazards, optimize operational cost, and prevent catastrophes.
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Pipeline integrity management has a significant role in the safe and reliable flow of fluids through the oil and natural gas pipelines. The increase in the crude oil exploration activities is expected to increase the well count owing to which the pipeline integrity management market is expected to witness steady growth in the near future. The growth of the oil and natural gas industry is expected to drive the market growth of the pipeline integrated management in the coming years.
The pipelines carrying corrosive fluids are prone to maintenance and repairs more frequently as compared to other pipelines. The maintenance and repair works may affect the working of pipeline integrity management. Due to which, the demand for pipeline integrity management is expected to have slower growth in the pipelines prone to frequent maintenance and repair.
Some of the major companies that are present in the global pipeline integrity management market are Baker Hughes,a GE Company LLC, Halliburton Company, Thyssengas GmbH, A.Hak Industrial Services, DNV GL AS, TWI Ltd., Infosys Limited, Emerson Electric Co., Force Technology, Audubon Engineering Solutions, Aegion Corporation, Black Hills Corporation, NW Natural, Matcor, Inc., Dominion Energy Inc., New Century Software Inc., Associated Technology Pipeline Limited, Nexus Integrity Management, LLC., and Henkels & McCoy, Inc.
· Inspection Service
· Cleaning Service
· Repair & Refurbishment Service
· North America (the USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico, and Rest of Latin America)
· Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)
The global pipeline integrity management market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The oil and natural gas industry in the North America region is expected to grow at a decent CAGR of around 5.6% (from 2017 to 2020) as reported by British Petroleum. The growth of the oil and natural gas industry in the region is thus expected to boost the market growth of pipeline integrity management in the coming years. Europe region has reported steady growth in the oil and natural gas industry in recent years. Increasing oil production in Russia is the vital driving force for the oil and natural gas industry in the Europe region. The growth of the oil and natural gas industry in Europe is thus expected to drive the growth of the pipeline integrity management market in the coming years. The Middle East and Africa region are among the key oil-producing regions of the world. The oil and natural gas industry in the region is growing at a moderate rate owing to which, the pipeline integrity management market is expected to witness steady growth in the coming years. The Asia Pacific is one of the key consumers of the oil and natural gas products owing to which the region has numerous petroleum refineries installed. The growth of the installed refineries in the Asia Pacific region is expected to aid in the growth of the piping integrity management market in the coming years.
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