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.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold 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.