Published On : 11 Sep 2018
With extensive advancements occurring in robotic technologies, these devices are finding their way into new domains. And in case the need to clean pipes and other such structures exists, the robots in reality have to find their way through the interior pipe space, cleaning along their course. Thus, such advancements are mainly responsible for driving the global in-pipe inspection robots market.
There are several sectors such as oil refineries, water supply facilities, and gas fields, which need to maintain piping structures on a regular basis. As these sectors are witnessing notable development, several associated organizations are implementing newer pipe-cleaning technologies, the robotic ones being a prime choice. Such an increasing preference by organizations is substantially propelling the global in-pipe inspection market to grow at a rapid pace. Of all sectors, the increasing adoption of in-pipe inspection robots by the petrochemical industry has fostered the growth of the in-pipe inspection robots market.
However, in spite of above-described growth, the in-pipe inspection robots market is expected to face some challenges. A prominent growth restraining factor is the high capital investment required for manufacturing the robots, testing them, and selling them to viable clients. Moreover, with a nascent stage of the technology, many robotic varieties are unable to move through T-shaped pipes.
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Lack of expertise and shortage of manpower needed to expand the market in remote and underdeveloped regions also has been responsible for driving the growth of the global in-pipe inspection robots market. All these factors are projected to certainly impact the in-pipe inspection robots over the forecast period in a negative manner. However, a good opportunity lies in several initiatives taken up by key companies to introduce cost-regulated devices in the near future. This could offset most restraints affecting the global in-pipe inspection robots market.
The vendor landscape of the global in-pipe inspection robots market features a largely emerging scenario owing to the relatively nascent characteristic of the technology. A handful of players mainly exist, thereby portraying a sense of consolidated character to the vendor landscape. However, with the number of players increasing every year, the global in-pipe inspection robots market is increasing by the day, which is expected to intensify the competition in the next few years.
Several manufacturers are developing highly advanced robotic services especially for pipe cleaning and maintenance purposes in order to deliver a good output. A key strategy adopted by most players working in the global in-pipe inspection robots market involves achieving extensive product and service differentiation to stay ahead in the competition. Apart from this, facilitating geographical expansion, improving product portfolio, and taking part in mergers and acquisitions are key schemes implemented by most players in the market.GE Inspection Robotics, Inuktun Services, Super Droid Robots, Honeybee Robotics, AETOS, and Universal Robots, are key players operating in the global in-pipe inspection robots market.
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