Global In-Pipe Inspection Robots market is expected to reach a value of around USD 2,865 million by 2027, at a CAGR of around 16.84 % between 2019 and 2027.
NEW YORK, UNITED STATES, June 4, 2020 /EINPresswire.com/ — Facts & Factors has published a new report titled “In-Pipe Inspection Robots Market By Product Type (Thickness Measuring Robot, Welding Pipe Robot, and Diameter Robot) and By Application Type (Water Supply Facilities, Gas Pipeline, and Oil Pipeline): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2027”.
According to the report, the global In-Pipe Inspection Robots market is predicted to be valued at approximately USD 706 million in 2018 and is expected to reach a value of around USD 2,865 million by 2027, at a CAGR of around 16.84 % between 2019 and 2027.
Generally, robots are developed for annihilating human interference across the labor-intensive and harmful working conditions. In addition to this, the robots are recruited for exploring remote workplaces and sites having high temperatures. Moreover, inspecting pipes is done by robots as the pipes carry toxic chemicals & fluids and have a small internal diameter that is not accessible to human beings.
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Some of the key participants in the business include Aries Industries, Inc., GE Inspection Robotics, IBAK Helmut Hunger GmbH & Co. KG, Radiodetection Ltd. (Pearpoint), RIEZLER Inspektionssysteme GmbH & Co. KG, Xylem Inc. (Pure Robotics), Inuktun Services Ltd., MISTRAS Group Inc. (Aetos), RedZone Robotics, Honeybee Robotics, Envirosight LLC, Medit Inc. (Fiberscope), Ryonic Robotics, and CUES.
Furthermore, the complicated internal structure of the pipes, as well as the harmful content present in the pipes, demand the need of robots for inspecting & determining the rust proportion in pipes, sludge sampling, and formation of scale in the internal pipe surface.
Precisely, In-Pipe inspection robots assist in the examination of the remains that are created inside the pipe. These robots send video responses from the ground to the controller of the in-pipe inspection robot. Through this, the customers can determine the real condition of the pipe and measure the depth of the deposition on the pipe walls.
Flourishing petrochemical activities to drive the market trends
The growth of the in-pipe inspection robots industry during the forecast timeline is credited to the transportation of a huge proportion of transportation via pipelines in the petrochemical sector. Moreover, the pipeline requires routine maintenance & checkup as contamination of oil & gas in the pipeline can result in disasters.
Furthermore, huge one-time investments in the deployment of in-pipe inspection robots can further boost the market growth as the product will deliver accurate & exact results along with creating positive cash flow during the forecast period. Moreover, manual inspecting of the pipelines is time-consuming, requires a huge workforce, and incurs massive expenditure for the firm. All these aforementioned aspects will help the market scale-up ascending heights over the forecast timespan. Nonetheless, the inability of the in-pipe inspection robots to move in the T-shape pipeline can inhibit the market expansion over the forecast timeframe.
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Diameter robot to lead the product type segment in terms of value
The growth of the segment during the forecast period is attributed to the ability of the diameter robots to move via very small or tiny pipes. Moreover, they can examine as well as perform functions in myriad pipeline sizes ranging from 150 millimeters to 5000 millimeters.
Gas pipeline segment to dominate the application landscape in terms of revenue growth
The segmental growth over the period from 2019 to 2027 is credited to continuous & easy transfer of gas through the pipeline without being ramped down.
Asia Pacific market to record the highest CAGR over the forecast timeline
The market in the Asia Pacific is slated to register the highest growth rate of more than 20% during the forecast timespan subject to huge fund allocation for infrastructural growth and large-scale industrialization witnessed in the region. Asian countries like Japan, China, and India are likely to offer huge growth prospects for the market in the region.
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This report segments the In-Pipe Inspection Robots market as follows:
In-Pipe Inspection Robots Market: By Product Type Analysis
Thickness Measuring Robot
Welding Pipe Robot
In-Pipe Inspection Robots Market: By Application Type Analysis
Water Supply Facilities
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Source: EIN Presswire