Sarasota, FL -- (SBWIRE) -- 08/01/2018 -- The new report by Zion Market Research on the "In-Pipe Inspection Robots Market — Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2026" has a vast information about the market and its potential.

The global in-pipe inspection robots market was valued at around USD 605 million in the year 2017 and is expected to reach over USD 2,450 million by the end of 2026 growing at a CAGR of more than 16.5% between 2018 and 2026.

Pipeline networks are majorly used for transporting oil and gas, drinkable water, effluent water, etc. In the U.S., the length of the pipeline is around 2,225,032 km. Out of which, 1,984,321 km is a gas pipeline and 240,711 km is oil pipeline. Moreover, the petrochemical industry is also increasingly adopting pipeline transport. As the demand for oil and gas is increasing across the globe, it is expected that the pipeline network will increase in length in the near future.

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This increasing demand for the pipeline networks anticipates increasing the demand for the in-pipe inspection robots. The in-pipe inspection robots are used for operations such as cleaning, maintenance, and inspection of the pipeline networks in order to eliminate the human interference. Manual inspection of the pipelines requires a lot of manpower which incurs additional cost for the companies. Usage of in-pipe inspection robots, though expensive, works with accuracy and generates positive cash flow over a period of time. This is likely to boost the use of in-pipe inspection robots market over the forecast period.

Diameter robot product type segment registered the highest market share of over 37.09% in 2017 and it is also expected to grow at a high CAGR of around 17.62% over the forecast period. Diameter robots are capable of moving through very small pipes. This robot can be used to inspect and perform operations in various sizes of pipes ranging from 150 mm to 5000 mm. Hence, diameter robots are being widely used in several applications.

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However, the in-pipe inspection robots market is expected to face some challenges such as high capital investment and inability to move in T-shape pipe. This is projected to negatively impact the in-pipe inspection robots over the forecast period.

By application, gas pipeline segment accounted for the largest market share of more than 37.22% in 2017. The gas pipeline application valued at around USD 606.53 million in the year 2017 and is expected to reach over USD 225.75 million by the end of 2026 growing at a CAGR of more than 16.39% between 2018 and 2026. The growth in the usage of in-pipe inspection robots in the gas pipeline application is mainly due to the deposition of a wax-like substance on the walls of the pipelines. Such deposition occurs very often owing to change in the pipeline wall temperature. Moreover, negative radial temperature gradient present in the flow may also result in deposition of a crystalline or wax-like substance on the walls of the pipeline. The deposition on the walls of the pipelines is more frequent in gas pipelines in comparison with other applications. Hence in-pipe inspection robots are widely used in the inspection of gas pipelines.

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Asia Pacific is expected to grow at the highest CAGR of 20.23% over the forecast period. The growth in Asia Pacific in-pipe inspection robots market is owing to increasing investment in the transportation of petrochemical products through the pipeline network. The usage of the in-pipe inspection robots is anticipated to grow owing to the increasing pipeline network across the region. North America held the highest market share in the global in-pipe inspection robots market in 2017. This is owing to the large network of pipeline in North America which accounts to around 2,325,032 km.

The major market players in the global in-pipe inspection robots market are CUES Inc., Envirosight LLC, GE Inspection Robotics, IBAK Helmut Hunger GmbH & Co. KG., Medit Inc. (Fiberscope), RedZone Robotics, Inc., Inuktun Services Ltd., MISTRAS Group Inc., RIEZLER Inspektions Systeme GmbH & Co. KG, Xylem, Inc., and Honeybee Robotics, Ltd., among others.