Global Pipeline Integrity Management Market: Overview
Pipeline Integrity Management (PIM) is the approach of understanding the operations of the pipelines in a safe and reliable manner. Pipeline operators considering all stages of the pipeline life cycle achieve PIM solutions. It helps to manage the process of securing pipelines from conception to engineering and design, operation, construction, inspection, and up to replacement whenever it is necessary.
In the U.S., the pipeline operators are compulsory to stand by regulations put for on the standards on the basis of federal Pipeline and Hazardous Materials Safety Administration (PHMSA). These regulations mandatories conduction of the regular baseline evaluations for ensuring the safety of the environment to the key players.
Is something restraining your company’s growth in the Pipeline Integrity Management Market? Ask for the report brochure here?
Global Pipeline Integrity Management Market: Notable Development
Some of the key players in the pipeline integrity management market include T. D. Williamson Inc., Bureau Veritas SA, Emerson Electric Co., Baker Hughes, TÜV Rheinland AG, a GE Co., and SGS SA. Due to the presence of numerous companies, operating in the pipeline integrity management market is displaying the fragmented vendor landscape; however, the due to the dominance of few players in the market are leading to increasing consolidation in the market. Additionally, large avenues in the market are attracting numerous key players in the pipeline integrity management market, which is an increasing number of new entrants.
- In 2018, at the International Pipeline Conference and Exhibition (IPC/IPE), the Rosen Group introduced its new digital integrity management solution – NIMA globally. It offers help to customers in the oil and gas sector for improving and securing decision-making by providing replication of integrity management processes.
Global Pipeline Integrity Management Market: Drivers and Restraints
Due to rising mishaps across the oil & gas sectors which increases the risks to the aquatic life and human living on seashore. Additionally, rising oil & gas exploration and especially offshore exploration activities are increasing the risk of mishaps and accidents; thus, in order to ensure the safety of the marine life, governments are imposing strict regulations. These regulations are encouraging adoption of the global pipeline integrity management systems and in turn, are propelling growth of the global pipeline integrity management market.
Furthermore, the regular checking and inspection of pipeline improves the life of the pipelines and ensure the structural integrity of the pipeline. Additionally, regular inspection is helping to lower the cost of pipeline maintenance to meet with the government regulations, which is fuelling the growth of the global pipeline integrity management market. The growing burden on the control room due to a rising pile of data is boosting the adoption of pipeline integrity management systems and likely to boost the pipeline integrity management market growth.
Moreover, the integrity management systems augment reality systems and sharing real-time information from oil & gas fields to control rooms, which helps to mitigate the risks of leakage or any other mishap. This is a key factor driving growth of the global pipeline integrity management market.
Stuck in a neck-to-neck competition with other brands? Request a custom report on competition on Pipeline Integrity Management Market here
Global Pipeline Integrity Management Market: Geographical Analysis
Based on the region, the pipeline integrity management market is segmented into five parts such as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Of these, North America is expected to dominate the global pipeline integrity management market owing to the growing adoption of the sophisticated pipeline networks coupled with the need for efficient operation and maintenance. However, burgeoning demand for better management in the developing regions, Asia Pacific and especially across the countries such as India and China.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.