Magnetic Crawlers Market Forecast and CAGR
As per research study estimates, Magnetic Crawlers are going to witness a high growth in the forecast period 2021-2031 with a CAGR of about 14 to 15%, owing to its wide acceptance and adaptability for inspecting pipes among various industrial, manufacturing, petrochemical, and residential applications.
What is Driving the Demand for Magnetic Crawlers?
As the industry 4.0 norms began taking pace there was a need for various technologies which would eventually lead to saving time and man-power both which in turn would save large amounts of capital expenses.
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The necessity and prioritization of these factors lead to more and more procurement of devices like magnetic crawlers which save time as well as huge cost which would eventually have had to be bear for the disaster caused by lack of inspection. This very fact is driving the sales of these equipment throughout the world.
Another point of paramount significance is that the end-users of these small to medium sized robots are at par, who use them for applications like water jetting, UHP blasting, abrasive blasting, wet and dry both, paint removal, de-scale, etc. which creates a broad customer base for the product.
Moreover, the robots can be equipped with many kinds of attachments which can be inter-changed to specific type of tasks making it versatile for vast end-users.
Automation to boost Magnetic Crawlers Sales
With the advent of automation in accordance with Industry 4.0 norms, the sales for these robots in the historical period 2016-2020 soared year-over-year. There is a strong international trend that uses robots as a strategic technology for automated inspection and maintenance work in hazardous environments such as in chemical plants and the nuclear power industry.
When the fixed costs (such as the machine investment, reflected in depreciation) can be distributed across a larger number of hours or parts, manufacturers gain the freedom to be more competitive in pricing or to increase their margin.
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Moreover, stringent regulations from various safety departs around the world for securing and monitoring pipeline infrastructure, which frame policies and protection strategies all of which lead to the urge in procuring these robots from various oil and gas end users thereby, driving the market.
U.S. and Canada Magnetic Crawlers Market Overview
Crawler systems are commonly employed in pipeline inspection, drain and sewer inspection, and tank and cavity inspection in North America. In both Canada and the United States, pipelines are the principal route of transportation for crude oil, petroleum products, and natural gas.
Pipelines transport over 70% of crude oil and petroleum products in the United States, whereas pipelines transport approximately 97 percent of natural gas and petroleum products in Canada.
Because of the increased number of pipelines across North American countries, oil and gas firms, government organizations, and environmental authorities are focusing on preventing oil spills, gas leaks, and other calamities. This is incentivizing oil and gas corporations to deploy crawler camera systems to examine pipelines.
Pipelines are subject to particular rules set by the US Department of Homeland Security (DHS) due to their sensitivity to physical threats.
Eastern Europe Demand Outlook for Magnetic Crawlers
European nations e.g. Russia, Czech Republic, Serbia, Hungary and Poland collectively account for sizeable contribution in general manufacturing, oil & gas industry, wherein pipeline inspection plays a crucial role in carrying forward this industry with all standards for safety and cost savings.
Magnetic crawlers are used frequently for pipeline inspection across many of the industries here in Europe.
Who are the Key Manufacturers and Suppliers of Magnetic Crawlers?
Some of the leading manufacturers and suppliers of Magnetic Crawlers include
- VERTIDRIVE
- Gridbots Technologies Private Limited
- NDT Technologies (P) Limited
- Eddyfi
- Saudi Aramco
- ULC Robotics
- Gecko Robotics
- Nexxis etc.
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