According to Market Study Report, Pipeline Integrity Market provides a comprehensive analysis of the Pipeline Integrity Market segments, including their dynamics, size, growth, regulatory requirements, competitive landscape, and emerging opportunities of global industry.This report also provides market landscape and market share information in the Pipeline Integrity Market.
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The Global Pipeline Integrity Market is projected to reach US$ 2.1 Billion by 2024 from an estimated US$ 1.7 Billion in 2019, at a CAGR of 4.33% during the forecast period.
#Key Players- Rosen (Switzerland), Baker Hughes, a GE Company (US), NDT Global (Germany), T.D. Williamson (US), SGS (Switzerland),Schneider Electric (France), and Emerson (US).
This Growth can be attributed to factors such as a huge investment pool in the pipeline business, increased government mandates and regulations for pipeline assessment, concern over environment impact, the safety of pipelines and energy infrastructure, and increased focus on the remote management of oil & gas pipeline for process optimization & automation.
The Pipeline monitoring segment is driven by an increased focus on the remote management of oil & gas pipeline for process optimization & automation. Pipeline monitoring services detect smaller leaks faster and more reliably, while simultaneously monitoring for third-party interference and other external pipeline threats to prevent leaks altogether.
Increasing demand for oil & gas and rising environmental concerns related to its transportation are expected to drive the onshore segment during the forecast period. Onshore pipelines are safer and more economical means of transportation than other modes. Safety is the priority of energy infrastructure facilities as these pipelines carry Highly Volatile Liquid (HVL), petroleum products, and LNG.
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