Pipe Inspection Robot Market 2023 – 2030 By Application, Type End-use - Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits
Industry : Information Technology | Pages : 173 Pages | Published On : Jul 2023
According to MarketDigits, the pipe inspection robot market is projected to reach a value of US$ 3 billion by the end of 2023. The global demand for pipe inspection robots is expected to grow at a compound annual growth rate (CAGR) of 15.8%, reaching US$ 13 billion by 2030.
The growth of the pipe inspection robot market can be attributed to several factors:
- The petrochemical industry's reliance on pipelines for transportation drives the need for pipe inspection robots.
- Routine maintenance and inspection of pipelines are crucial to prevent contamination and ensure the integrity of oil and gas transportation.
- The deployment of pipe inspection robots can lead to significant cost savings and accurate findings, contributing to positive cash flow over time.
- Manual inspection of pipes is time-consuming, labor-intensive, and costly, making pipe inspection robots an attractive alternative.
- One of the key drivers of the market is the ability of these robots to operate in challenging and hostile environments. Pipe inspection robots are particularly useful in complex pipeline applications where manned operations are impractical. Additionally, the market growth is supported by concerns over the availability of skilled workers.
Market growth is further propelled by ongoing advancements, such as improved flexibility to accommodate different pipe sizes and enhanced signal transmission technology for longer-distance operations. The use of advanced software tools in the design and construction of pipe inspection robots allows for their integration into slim and intricate pipe systems. The future trend is moving towards nanotechnology to reduce the weight of the robots and improve their low-power operation within pipes. Consequently, the market is expected to experience significant growth during the forecast period.
Asia Pacific is the Fastest-Growing Market for Pipe Inspection Robots
In 2023, Asia Pacific is set to lead the global pipe inspection robot market. The increasing investment in pipeline transportation of petrochemical products is driving the market growth for pipe inspection robots in the Asia Pacific region. This presents abundant opportunities for the pipe inspection robot market in Asia Pacific.
The region's robust industries and substantial infrastructure construction financing contribute to its growth. Countries like Japan, China, and India offer significant development potential for the sector in the region. The market is expanding due to initiatives aimed at reducing greenhouse gas emissions and the demand for energy-efficient solutions, both of which require the widespread deployment of pipe inspection robots.
The Oil and Gas Sector is Booming Worldwide
To meet the growing demand for oil and gas consumption, pipeline capacity is being expanded, and new pipeline projects are being undertaken. The oil and gas segment is driven by offshore operations, including deep water and ultra-deep water production and development.
The availability of abundant natural gas reserves, coupled with lower costs compared to other fossil fuels, is expected to drive the demand for natural gas across various industries, including power generation. As a result, the oil and gas segment is projected to experience growth throughout the forecast period.
Pipe Inspection Robot Market Overview
According to ongoing research, the global pipe inspection robot market is expected to exhibit a positive growth rate, with a projected CAGR of 15%-18% from 2021 to 2031. However, the outbreak of COVID-19 has had a disruptive impact on operations across various industry verticals, leading to direct effects on production and demand, supply chain disruptions, and financial implications for businesses and financial markets.
Government-imposed restrictions and uncertain economic conditions have dampened demand, but the industry is experiencing growth as emerging economies focus on deregulation. Additionally, the increasing demand for in-pipe inspection robots from industries such as oil and gas, water, and others is expected to drive the consumption of in-pipe inspection robots in the coming years.
What are driving Factors behind rise of Pipe Inspection Robot Market?
The growing need for automation is challenging manufacturers to design automated inspection robots to meet market demand. As global demand for oil and gas continues to grow, the pipeline network is expected to expand in the near future. Cleaning, maintenance, and monitoring of pipeline networks to reduce human intervention are the primary driving factors in this industry.
The use of in-pipe inspection robots ensures accuracy and generates positive cash flow over time. Among the different types of inspection robots, in-pipe inspection robots are most popular due to their speed and adjustable diameter. They enhance safety and quality by providing a secure working environment in remote areas. This advanced technology will play a critical role in driving the demand for inspection robots in the coming years.
The demand for inspection robots in pipeline maintenance services, both downstream and midstream in the oil and gas industry, is considered a primary driver for market growth. The scope of applications, from overhauling and monitoring aging pipelines to new pipeline installations, is expected to see a surge in usage.
Growth Outlook for the Pipe Inspection Robot Market
The increasing demand for automated pipelines to address various concerns in marine pipelines, oil and gas pipelines, chemical pipelines, coal and ore pipelines, water distribution pipelines, and sewage pipelines has driven the development of automated pipeline inspection robots. The market will be boosted in the coming years by the rising population and industrial growth in emerging countries.
Market participants are undertaking product customization to cater to high-end applications and specific configurations such as camera visibility range, axis of motion, and end-user communication protocols. This key trend is proving to be a value-added proposition for device original equipment manufacturers (OEMs) when presenting their product line to clients.
China's Demand Scenario
In recent years, China has emerged as a rapidly growing economy across multiple industries. With its unique position in leading the world in automation, China has been considered a prominent market for industrial robots, experiencing significant growth for four consecutive years. It is also recognized as a priority sector for high-end growth, alongside artificial intelligence and automation, to drive the transformation and upgrading of the manufacturing industry. The interest in supply chain automation and political support for local innovation are expected to contribute to future growth. While China's robotics sector is already substantial, there is still ample room for further expansion.
North America Market Growth Outlook
The automation industry in North America continues to experience robust growth as companies invest in enhancing productivity and competitiveness, while also providing opportunities for workers. According to the International Federation of Robotics (IFR), robotic unit sales in North America have increased by 3 to 4 percent over the past two years. Significant technological advancements, such as sensor technologies enabling improved object perception and precise positioning systems, have unlocked untapped potential for robotics across various applications.
Who are the Key Manufacturers and Suppliers of Inspection Robot?
Notable manufacturers of pipe inspection robots include:
- General Electric
- Xylem Inc.
- Tongren Tuofeng (Beijing) Technology Co., Ltd
- Mini-Cam Ltd
- RedZone Robotics
- Envirosight LLC
- Eddyfi Technologies
- Wuhan Easy-Sight Technology Co., Ltd
- Super Droid Robots, Inc.
- IPS Robot
- Bominwell Robotics
- IPEK International Gmbh
- IBAK Helmut Hunger GmbH and Co. KG
The provided list includes key players in the market involved in the production of inspection robots. They contribute to the industry with their expertise and innovative solutions.
The report is a comprehensive compilation of firsthand information, qualitative and quantitative assessments by industry analysts, inputs from industry experts and participants across the value chain. It offers an in-depth analysis of market trends, macroeconomic indicators, governing factors, and market attractiveness for different segments. Furthermore, the report assesses the qualitative impact of various market factors on market segments and geographies.
- Wheel In-pipe Inspection Robot
- Tracked In-pipe Inspection Robot
- Aerial Drones
- Welding pipe Robot
- Remote Inspection Robot
- Scanning System Robot
- Thickness measuring Robot
- Oil & Gas
- Sewer Management
- Water utilities
- Industrial plants
- Civic Infrastructure
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Germany, Italy, France, U.K., Spain, BENELUX, Russia
- South Asia Pacific
- India, ASEAN, Australia and New Zealand (ANZ)
- East Asia
- China, Japan, South Korea
- Middle East and Africa
- GCC Countries, Turkey, North Africa, South Africa
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