New York, March 19, 2024 (GLOBE NEWSWIRE) -- The global pipe inspection robot market size is slated to expand at ~15% CAGR between 2024 and 2036. The market is poised to garner a revenue of USD 5 billion by the end of 2036, up from a revenue of ~USD 3 billion in the year 2023.The increasing number of gas pipeline networks is predicted to drive market growth. The need for the expansion of pipelines and safety concerns are growing in inspection robots across the world. There were more than 2300 functional pipelines for oil and gas distribution across 160 countries as of 2020 which is estimated to be over 1 million kilometers in length.
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In addition, the increasing construction and infrastructure development works across the globe are propelling the demand for pipe inspection robots during the projected period. Further, the need for regular monitoring and inspection of the pipelines to prevent leakage and damage loss is determined to boost the market size. More than USD 8 billion was granted for the construction of the Federal Aviation Administration to enhance the infrastructure in the United States including runways, taxiways, and other terminals.
Escalating Demand for Nanotechnology is Proliferating the Growth of the Market
The integration and installation of sensors, cameras, and other artificial intelligence in end-user sectors is expected to hike the market size. Also, the demand for miniature and compact-size cameras to detect and identify any defects in the structures is propagating the market growth. For instance, an Alberta company used Direct-C nanotechnology to detect the leakage and small seepages in the pipelines of the oil and gas sector in 2022.
Pipe Inspection Robot Market: Regional Overview
Increasing Implementation of Robotic Technology to Clean and Maintain the Pipelines is Intensifying the Market Growth in Asia Pacific Region
The Asia Pacific region pipe inspection robot market is evaluated to hold a lion’s share of around 35% during the forecast era. The rise in the market trends is attributed to the developing number of applications of robotic technology in the cleaning and management of underground pipelines. Managing pipelines in the sewage sector and other end-user verticals is risky which is prophesied to amplify the market growth. The Fluid Robotics engineering team graduated from the Toilet Board Coalition has developed robot equipment designed with an AI-enabled camera, ultrasound sensors, and lasers to decrease pollution and divert more than 2 million liters of wastewater to treatment plants for reuse in India as of 2022.
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Multiplying the Ratio of Internet Adoption and Development of Advanced Technologies is Strengthening the Market Expansion in the North America Region
The market in the North America market is estimated to set a second-largest market share of 27% by the end of 2036. The augmenting demand for the market is credited to the redoubling expenditure on technologies such as nanotechnology, drones, surveillance cameras, and remotely operated cameras to inspect narrow pipelines. Additionally, the expansion of internet usage is reckoned to fuel the market growth. It is estimated that the ratio of internet users may rise from 5.5 billion in 2024 to 8 billion in 2029 at a rate of 45% growth.
Pipe Inspection Robot, Segmentation by End-User
- Oil & Gas
- Sewer Management
- Industrial Plants
- Food & Beverages
- Electronics
The pipe inspection robot market from the oil & gas segment is outlined to secure a market share of 35% in the coming years owing to the rising percentage of offshore oil drilling and ultra-deepwater reserves. Besides, the escalating demand for oil and gas across the world with the multiplying industries and automobiles is assessed to hike the market segment growth. As per the statistical data available, there were over 220 offshore oil rigs across the world as of 2023.
Pipe Inspection Robot, Segmentation by Type
- Aerial Drones
- Wheel In-Pipe
- Tracked In-Pipe
The aerial drone segment from the pipe inspection robot market is reckoned to register a noteworthy market share of about 54% by the end of 2036. The growing popularity of aerial drones to monitor pipelines in remote areas to reduce the risk of danger to the humans and equipment is driving the progress of the market segment. Aerial drones are the new trend in quality checking to take photographs of the pipelines to plan a clear strategy to repair or verify the quality perspective. There were more than 500 unmanned aerial vehicles and military drones in South Korea utilized for surveillance, information collection, and reconnaissance.
A few of the well-known industry leaders in the pipe inspection robot market that are profiled by Research Nester are CUES Inc., Envirosight LLC, GE Inspection Robots, IBAK Helmut Hunger GmbH & Co. KG, Medit Inc., RedZone Robotics, Robotics Design Group, Inunktun Services Ltd. Xylem Inc., Honeybee Robotics, and others.
Recent Development in the Market
- CUES Inc. introduced a new version of CUES SPR II with a single-point wheel adjustment facility. This new feature allows Rapid configuration changes needed in different pipeline sizes and conditions. The presence of unique camera robotic technology helps in sanitary sewers.
- General Electric merged with Garver and Warren Environmental to build underground pipeline trenches in the overhaul system which is called PLUTO systems. The system can repair internal pipeline damages without any extraction or digging necessity.
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