Pipeline integrity management (PIM) is the practice of continuously evaluating pipelines used for oil and natural gas transmission in order to maintain safe and dependable operations. Public safety and environmental concerns are important factors that must be taken into account throughout pipeline construction. Since these pipelines transport volatile gases and liquids at high pressure, any leaks or incidents during operation would result in massive damage to the environment and human life. Pipeline owners and operators manage PIM programs. The management programs include all stages of the pipeline life cycle, from conception to engineering, design, construction, operation, inspection, and, if necessary, repair or replacement. Pipeline Integrity Management (PIM) is a technique to understand pipeline operations in a safe and dependable manner. PIM aids in the management of pipeline security from conception to engineering and design, operation, construction, inspection, and replacement.
Market Drivers
The growth in catastrophes in the oil and gas industry raises the hazard to aquatic life and humans. As a result, governments from various countries are enforcing stringent laws to guarantee the safety of marine life. These rules are one of the primary drivers for the implementation of PIM systems, accelerating the worldwide PIM market.
Regular inspections and tests improve the life of pipelines and preserve their structural integrity. Furthermore, regular inspection helps to reduce the expense of pipeline maintenance. This is driving the worldwide PIM market forward. The increasing strain on the control room as a result of a growing pile of data is also increasing the adoption of PIM, consequently expanding the PIM market. PIM systems provide the exchange of real-time data from oil and gas fields to control rooms. This reduces the chances of leaking or other catastrophes. This is a major driver of the worldwide PIM market.
Market Restraints
The PIM market is expected to be hampered by increased awareness of renewable energy sources. The PIM system is a significant infrastructural development in the oil and gas sector. Reduced reliance on nonrenewable energy sources is predicted to result in less investment in the oil and gas industry. As a result, the PIM market is projected to suffer. One of the most serious threats to the PIM industry is the increasing use of renewable energy sources like solar and wind. Because of their environmental and economic benefits, the growing usage of these sources will immediately wipe out the need for oil and gas. This will have a direct negative impact on oil and gas output, limiting market expansion.
Market Recent Developments:
REPORT METRIC |
DETAILS |
Market Size Available |
2022 – 2028 |
Base Year |
2022 |
Forecast Period |
2023 - 2028 |
CAGR |
3.78% |
Segments Covered |
By Location, Services, and Region. |
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
Baker Hughes (United States), Enbridge (Canada), GE (United States), Schneider Electric (France), T.D. Willamson Inc., Bureau Veritas SA, Emerson Electric Co. Baker Hughes, TUV Rheinland AG, SGS SA, DNV., and Others. |
Market Segmentation:
The global PIM market may be divided into two segments based on deployment location: onshore and offshore. The onshore segment is expected to grow faster than the offshore segment since it has lower operational costs.
The worldwide PIM market is divided into three service types: inspection services, cleaning services, and repair and refurbishment services.
The pipeline integrity market has been segmented into four regions: the Americas; Europe; Asia-Pacific; and the Middle East and Africa. From 2022 to 2027, the Americas are anticipated to be the largest market. The United States and Canada are two of the major markets in the Americas. Pipelines transport more than 70% of crude oil and petroleum products in the United States and 97% of natural gas and petroleum products in Canada. As the need for energy generated in the Americas grows, E&P activities will shift further toward harsh environments. For example, the majority of recent oil and gas shale discoveries have occurred in distant places. Transportation of these reserves from difficult environments to storage places requires extra care, which will raise the demand for pipeline integrity services in the region.
Energy consumption in Asia-Pacific is predicted to rise in the next few years, and this region will be one of the primary regions with an appealing CAGR in the future.
Market Key Players
Frequently Asked Questions
Baker Hughes (United States), Enbridge (Canada), GE (United States), Schneider Electric (France), T.D. Willamson Inc.,
The growth in catastrophes in the oil and gas industry raises the hazard to aquatic life and humans. As a result, governments from various countries are enforcing stringent laws to guarantee the safety of marine life. These rules are one of the primary drivers for the implementation of PIM systems, accelerating the worldwide PIM market.
Schneider Electric and Prisma Photonics, a provider of next-generation fiber sensing for smart infrastructure, announced a collaboration in November 2021 to assist oil and gas pipeline owners and operators in preventing accidental and malicious activity by providing real-time intelligence and precise monitoring of oil and gas infrastructure.
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