New York, NY, May 02, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “In-Pipe Inspection Robots Market by Product Type (Thickness Measuring Robot, Diameter Robot, Welding Pipe Robot, and Others), by Application (Water Supply Facilities, Oil Pipeline, Gas Pipeline, and Plant) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026".
According to the report, the global in-pipe inspection robots market was valued at around USD 605 million in the year 2017 and is expected to reach over USD 2,450 million by the end of 2026 growing at a CAGR of more than 16.5% between 2018 and 2026.
Browse through 80 Tables & 22 Figures spread over 110 Pages and in-depth TOC on "Global In-Pipe Inspection Robots Market 2018: Industry Size, Share, Segments Analysis and Forecast, 2026”.
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Market Report Highlights:
- The increasing adoption of the in-pipe inspection robots by the petrochemical industry has fostered the growth of the in-pipe inspection robots market.
- Growing trend of automation across several sectors has augmented the demand for the in-pipe inspection robots market.
- The gas pipeline application segment is anticipated to grow at a CAGR of 16.39% over the forecast period owing to flourishing petrochemical industry across the globe.
- Diameter robot product type segment held the largest market share of 37.09% in 2017 and was valued at around 224.99 million. Diameter robots are widely used in the inspection and performance assessment of pipelines ranging from 150 mm to 5000 mm. Such a wide range of pipelines covers the majority of sub-segments by applications type. This is expected to trigger the growth of diameter robots segment over the forecast period.
- Asia Pacific anticipated growing with the highest CAGR of around 20.23% over the forecast period.
- North America held the highest market share of the global in-pipe inspection robots market in 2017. This is owing to the large network of pipeline in North America which accounts to around 2,325,032 km.
- In the U.S., the majority of the market share of over 35% was contributed by the diameter robots in the product type segment.
- By applications, in Asia Pacific region oil pipelines application is expected to grow at the highest CAGR of more than 21%.
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According to the analysis, the in-pipe inspection robots market is expected to gain traction over the forecast period owing to increasing consumption of oil, gas, and other petrochemical products which is transported through pipes. The increased utilization of the in-pipe diameter robots in the oil and gas companies has augmented the popularity of the diameter robots. The diameter robots possess the capability of passing through a wide range of diameters ranging from 150 mm to 5000 mm thus being used increasingly.
Pipeline networks are majorly used for transporting oil and gas, drinkable water, effluent water, etc. In the U.S., the length of the pipeline is around 2,225,032 km. Out of which, 1,984,321 km is a gas pipeline and 240,711 km is oil pipeline. Moreover, the petrochemical industry is also increasingly adopting pipeline transport. As the demand for oil and gas is increasing across the globe, it is expected that the pipeline network will increase in length in the near future. This increasing demand for the pipeline networks anticipates increasing the demand for the in-pipe inspection robots. The in-pipe inspection robots are used for operations such as cleaning, maintenance, and inspection of the pipeline networks in order to eliminate the human interference. Manual inspection of the pipelines requires a lot of manpower which incurs additional cost for the companies. Usage of in-pipe inspection robots, though expensive, works with accuracy and generates positive cash flow over a period of time. This is likely to boost the use of in-pipe inspection robots market over the forecast period.
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However, the in-pipe inspection robots market is expected to face some challenges such as high capital investment and inability to move in T-shape pipe. This is projected to negatively impact the in-pipe inspection robots over the forecast period.
Diameter robot product type segment registered the highest market share of over 37.09% in 2017 and it is also expected to grow at a high CAGR of around 17.62% over the forecast period. Diameter robots are capable of moving through very small pipes. This robot can be used to inspect and perform operations in various sizes of pipes ranging from 150 mm to 5000 mm. Hence, diameter robots are being widely used in several applications.
Browse the full “In-Pipe Inspection Robots Market by Product Type (Thickness Measuring Robot, Diameter Robot, Welding Pipe Robot, and Others), by Application (Water Supply Facilities, Oil Pipeline, Gas Pipeline, and Plant) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026” report at https://www.zionmarketresearch.com/report/in-pipe-inspection-robots-market
By application, gas pipeline segment accounted for the largest market share of more than 37.22% in 2017. The gas pipeline application valued at around USD 606.53 million in the year 2017 and is expected to reach over USD 225.75 million by the end of 2026 growing at a CAGR of more than 16.39% between 2018 and 2026. The growth in the usage of in-pipe inspection robots in the gas pipeline application is mainly due to the deposition of a wax-like substance on the walls of the pipelines. Such deposition occurs very often owing to change in the pipeline wall temperature. Moreover, negative radial temperature gradient present in the flow may also result in deposition of a crystalline or wax-like substance on the walls of the pipeline. The deposition on the walls of the pipelines is more frequent in gas pipelines in comparison with other applications. Hence in-pipe inspection robots are widely used in the inspection of gas pipelines.
Asia Pacific is expected to grow at the highest CAGR of 20.23% over the forecast period. The growth in Asia Pacific in-pipe inspection robots market is owing to increasing investment in the transportation of petrochemical products through the pipeline network. The usage of the in-pipe inspection robots is anticipated to grow owing to the increasing pipeline network across the region. North America held the highest market share in the global in-pipe inspection robots market in 2017. This is owing to the large network of pipeline in North America which accounts to around 2,325,032 km.
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The major market players in the global in-pipe inspection robots market are CUES Inc., Envirosight LLC, GE Inspection Robotics, IBAK Helmut Hunger GmbH & Co. KG., Medit Inc. (Fiberscope), RedZone Robotics, Inc., Inuktun Services Ltd., MISTRAS Group Inc., RIEZLER Inspektions Systeme GmbH & Co. KG, Xylem, Inc., and Honeybee Robotics, Ltd., among others.
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The global In-Pipe Inspection Robots Market is segmented on the basis of the component, technology, vertical, and the geographical regions.
Global In-Pipe Inspection Robots Market: Product Type Segment Analysis
- Thickness Measuring Robot
- Diameter Robot
- Welding Pipe Robot
- Others
Global In-Pipe Inspection Robots Market: Application Segment Analysis
- Water Supply Facilities
- Oil Pipeline
- Gas Pipeline
- Plant
Global In-Pipe Inspection Robots Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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