September 02, 2022 11:03 ET | Source: Facts & Factors Facts & Factors
NEW YORK, United States, Sept. 02, 2022 (GLOBE NEWSWIRE) -- According to Facts and Factors has published a new research report titled “In-Pipe Inspection Robots Market Size, Share, Growth Analysis Report By Product Type (Thickness Measuring Robot, Diameter Robot, Welding Pipe Robot, Others) By Application (Water Supply Facilities, Oil Pipeline, Gas Pipeline, Plant), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” in its research database.
“According to the latest research study, the demand of global In-pipe Inspection Robots Market size & share in terms of revenue was valued at USD 1,724.30 million in 2021 and it is expected to surpass around USD 4,157.81 million mark by 2028, growing at a compound annual growth rate (CAGR) of approximately 15.80% during the forecast period 2022 to 2028.”
What are In-pipe Inspection Robots? How big is the In-pipe Inspection Robots Industry?
Robots are typically created to eliminate human involvement in harsh and hazardous working environments. The robots are also employed for investigating remote workplaces and hot-weather locations. Additionally, robots inspect pipes because they contain harmful chemicals and fluids and have a small internal diameter that makes them inaccessible to humans. Robotic inspection and measurement of the rust proportion in pipes, sludge sample, and creation of scale on the internal pipe surface are required due to the intricate internal structure of pipes and the dangerous materials present in them.
In-Pipe inspection robots specifically help with the analysis of the debris that is produced inside the pipe. Through visual responses supplied from the ground, these robots communicate with the controller of the in-pipe inspection robot. Customers can use this to determine the true condition of the pipe and the extent of encrustation on its walls.
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One of the primary factors driving the market for in-pipe inspection robots is that these robots are built to operate in an environment requiring exceptional skill and capable of operating in hazardous conditions. It is considered a good methodology to inspect by employing in-pipe inspection robots because the pipeline is confined by several environmental factors that limit the examination inside. The market for in-pipe inspection robots is anticipated to grow during the projected period because of the petrochemical industry's dependency on pipelines for transportation. The pipeline also requires routine maintenance and inspection because contaminating the oil and gas inside the pipeline might have fatal results. As the product will produce precise results and generate positive cash flow during the projection period, large one-time investments in deploying in-pipe inspection robots might further enhance the market growth.
Additionally, manually inspecting the pipelines consumes a lot of time, resources, and money for the business. All of the elements above will contribute to the market's predicted scaling-up ascension to new heights. The market for in-pipe inspection robots is expected to face several challenges, including a significant initial investment and restricted movement within T-shaped pipes. This is expected to harm in-pipe inspection robots over the projected period.
Furthermore, the inspection and maintenance processes for the in-pipe inspection robot require tremendous costs, which businesses find difficult to provide, limiting the market's progress.
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In-pipe Inspection Robots Market: COVID-19 Impact Analysis
The epidemic caused by COVID-19 had a devastating effect on practically every business. Because participants were unable to move freely, the activities had to be cancelled. Supply networks were hampered on a global scale due to the disruption. This led to a decline in the production of in-pipe inspection robots as well as a decrease in market demand, which in turn limited the growth of the market for in-pipe inspection robots. Additionally, all government funding and private sector emphasis have gone to the healthcare industry, which has limited market expansion.
In-pipe Inspection Robots Market: Segmentation Analysis
The global in-pipe inspection robots market is segregated based on product type, application, and region. Based on product type, the market is segregated into thickness measuring robots, diameter robots, welding pipe robots and others. In 2021, the diameter robot segment dominated the global in-pipe inspection robots market. Based on the application, the market is segregated into water supply facilities, oil pipelines, gas pipelines and plants. In 2021, the gas pipeline dominated the global in-pipe inspection robots market.
The global In-pipe Inspection Robots market is segmented as follows:
Browse the full “In-Pipe Inspection Robots Market Size, Share, Growth Analysis Report By Product Type (Thickness Measuring Robot, Diameter Robot, Welding Pipe Robot, Others) By Application (Water Supply Facilities, Oil Pipeline, Gas Pipeline, Plant), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” Report at https://www.fnfresearch.com/in-pipe-inspection-robots-market
Some of the main competitors dominating the global In-pipe Inspection Robots market include;
Key Insights from Primary Research:
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The global in-pipe inspection robots market is divided into geographic regions: North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The Asia Pacific dominated the global market for in-pipe inspection robots in 2021. The market growth for in-pipe inspection robots in the Asia Pacific area is driven by the increase in investment in petrochemical product transportation through the pipeline network. This is expected to greatly expand the market for in-pipe inspection robots in the Asia Pacific region.
The significant funds earmarked for infrastructural improvement and the region's extensive industries are also influencing its growth. It is anticipated that Asian countries like China, Japan, and India will offer the region's business great growth potential. The demand for energy-efficient alternatives and growing programs to reduce greenhouse gas emissions, both of which call for the widespread deployment of in-pipe inspection robots, are driving the market's expansion.
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