Pipe Inspection Robot Market size is estimated to surpass USD 5 Billion by the end of 2036, witnessing around 15% during the forecast period, i.e., 2024 – 2036. In the year 2023, the industry size of pipe inspection robot was around USD 3 Billion. The growth of the market can be attributed to the growing network of gas pipelines. As of December 2020, there were around 2,381 operating oil and gas pipelines spread over 162 nations. Moreover, between 2022 and 2026, around 536 transmission oil and gas pipelines are expected to come online. With the expansion of pipelines, safety has become the paramount concern, pipe inspection robots provide a safe way of inspection.
In addition to these, a factor that is believed to fuel the market growth of pipe inspection robots is surging industrial growth. The necessity for constructing and extending infrastructure, such as pipelines for transversing fluids has increased dramatically with the expansion of the industrial sector. The higher the size and scope of an industrial infrastructure, there's more the requirement for routine inspection and maintenance, which increases the demand for pipe inspection robots.
Growth Drivers
Challenges
Base Year |
2023 |
Forecast Year |
2024-2036 |
CAGR |
~15% |
Base Year Market Size (2023) |
~ USD 3 Billion |
Forecast Year Market Size (2036) |
~ USD 5 Billion |
Regional Scope |
|
End User (Oil & Gas, Sewer Management, Industrial Plants, Food & Beverages, Electronics)
The oil & gas segment is expected to account for 35% share of the global pipe inspection robot market in the year 2036. The growth of the segment can be attributed to the increasing projects of offshore operations in deep or ultra-deep water. In 2021, the investment in offshore projects increased by 20%. Currently, around USD 214 billion invested in new projects will take offshore oil and gas to new heights. Furthermore, it is expected, between 2022 and 2025, around USD 500 million will be invested in the same.
Type (Aerial Drones, Wheel In-Pipe, Tracked In-Pipe)
Pipe inspection robot market from the aerial drones segment is expected to garner a significant share of around 54% in the year 2036. The rising benefit of aerial drones, such that they can perform non-intrusive inspection from the exterior. Moreover, the inspection conducted with the help of aerial drones is much faster and reduces the cost of labor. Furthermore, drones can capture high-quality films and photographs from aerial perspectives. This is further enhanced owing to the technological advancement of the drones. The modern drones use a combination of Global Navigation Satellite Systems, including GLONASS and GPS.
Our in-depth analysis of the global market includes the following segments:
Type |
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Application |
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End User |
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APAC Market Forecast
The pipe inspection robot market in Asia Pacific is projected to be the largest with a share of about 35% by the end of 2036. The growth of the market in the region can be attributed majorly to the rising adoption of technology that has saved manual labor from going into dangerous sites to carry out operations or maintenance. For instance, as per the data from the Indian government, nearly 520 districts out of 766 districts have declared that manual scavenging has reduced to zero in their areas. Moreover, around 200 sewer-cleaning automated machines were deployed in the capital of India.
North American Market Statistics
The North America pipe inspection robot market is estimated to be the second largest, registering a share of about 27% by the end of 2036. The growth of the market can be attributed majorly to the rising investment in nanotechnology. The United States expenditures the greatest amount of money on nanotechnology BERD of USD 13 500 million PPP, accounting for about 75% of total global nanotechnology BERD expenditures. Furthermore, the growing demand for oil and gas is also expected to drive market growth in the world.
Author Credits: Richa Gupta
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