The global pipeline integrity market is expected to grow from an estimated USD 1.7 billion in 2019 to USD 2.1 billion by 2024, at a CAGR of 4.33% during the forecast period. This growth can be attributed to factors such as huge investment pool in the pipeline business, increased government mandate 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 global pipeline integrity market is dominated by few major players that have a wide regional presence. The leading players in the pipeline integrity market are Rosen (Switzerland), Baker Hughes, a GE Company (US), NDT Global (Germany), T.D. Williamson (US), SGS (Switzerland), Schneider Electric (France), Emerson (US), Applus (Spain), Altus Intervention (Malaysia), Enermech (UK), Intertek (UK), IKM Gruppen (Norway), and Lin Scan (UAE).
The major strategies adopted by the players include new product launches, investments & expansions, mergers & acquisitions, contracts & agreements, partnerships, and collaborations. New product launches was the most commonly adopted strategy from 2016 to 2019. These industry players also adopted mergers & acquisitions as one of the major strategies during that period.
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Rosen (Switzerland) provides inspection and integrity services for pipelines globally. The company was founded by Hermann Rosen, and it started operating worldwide in 1990. It established its operating subsidiaries in the US, Malaysia, and the Netherlands. It focuses on 4 key areas, namely, inspection of industrial assets to ensure effective and reliable operation; customized engineering consultancy to ensure asset integrity management; supply and production of customized novel systems and products; and market-driven research & development to provide added value products and services.
Rosen offers asset care services and products for industries such as oil & gas, process, mining, manufacturing, and transportation. Asset care services include inspection solutions, pipeline cleaning services, integrity solutions, research & development solutions, and education systems & services. Pipeline integrity comes under integrity solutions. The company offers corrosion growth assessment, dent strain/stress/fatigue life assessment, crack growth assessment, bending strain, geohazards, fitness for purpose assessment, and others. The company’s products segment includes automated inspection services, flowmeter software, pipeline cleaning pigs, tool cracking & locating instruments, high-performance elastomers, intelligent plastic systems, and coatings.
BHGE (US) provides systems, products, and oilfield-related services. BHGE was formed as a result of a merger between GE Oil & Gas (UK) and Baker Hughes Incorporated (US) in 2017. The merger intended to form a new full-stream digital industrial service company to increase financial performance, strengthen its competitive position, and increase its shareholders’ returns.
The company operates through 4 business segments, namely, Oilfield Services (OFS), Oilfield Equipment (OFE), Turbomachinery & Processing Solutions (TPS), and digital solutions. The digital solutions segment also offers measurement and controls technologies such as condition monitoring, measurement and sensing, inspection and process, and pipeline services. The services are for industries such as oil & gas, power, aviation, and transportation. It also offers purpose-built software solutions that provide data management and intelligent insights in oil & gas businesses. The pipeline services offer precommissioning and maintenance services, ILI, which includes nitrogen, bolting, torquing, and leak detection services.
The company offers pipeline integrity solutions under the digital solutions segment, which also provides predictive corrosion management, ILI, condition monitoring, and asset integrity solutions, leak detection, hydro-testing, precommissioning, and maintenance services.
The company operates globally in more than 120 countries with its 27 subsidiaries. It spent more than USD 700 million in research & development activities in 2018. This has helped the company launch over 100 new products and issue 2,700 patents globally.
Pipeline Integrity Market by Service (Testing, Inspection [Ultrasonic, Magnetic Flux, Caliper], Monitoring, Software), Application (Onshore, Offshore), Product (Oil, Gas, Refined Product), and Region: Global Forecast to 2024
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