The global pipeline maintenance service market is expected to grow at a compound annual growth rate (CAGR) of approximately 2.8% between 2021-2026 states a new report authored by ResearchAndMarkets.com, with North America taking a significant share in the corrosion repair industry.
While low carbon steel is the most widely used material for oil and gas pipelines worldwide, it is susceptible to corrosion in the presence of air, soil, and water.
One of the major drivers for corrosion repair services is the growing share of heavy crude. Hence, with high demand for services from Canada and the United States, North America is expected to dominate the corrosion repair services market up to 2026. In Asia-Pacific and Europe, where the pipelines are relatively new, the demand for corrosion repair services is expected to be limited.
The US has the largest network of pipelines in the world. Approximately one third of the total pipeline market in the country is used to transport crude oil, delivering millions of gallons of oil equivalent/day to various refineries and export terminals.
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