Europe Oil & Gas Pipeline Leak and Theft Detection Market growth to Grow with a robust CAGR through to 2028
Increasing
energy consumption and expanding import and export of oil and gas is expected
to drive the Europe Oil & Gas Pipeline Leak and Theft Detection Market
growth in the forecast period, 2024-2028.
According to TechSci Research report, “Europe Oil
& Gas Pipeline Leak and Theft Detection Market - By Country, Competition,
Forecast and Opportunities, 2018-2028”, the Europe Oil & Gas Pipeline
Leak and Theft Detection Market is expected to register a robust during the
forecast period, 2024-2028.
Significant environmental
damage can result from leaks and spills, prompting increased attention to these
incidents and making leak and theft detection imperative for pipeline
operators. This is contributing to the growth of the oil & gas pipeline
leak and theft detection market in Europe.
European
countries are increasingly investing in the modernization and expansion of
their energy infrastructure. This includes the construction of new pipelines,
as well as the rehabilitation and upgrading of existing ones. With the growing
extent and interconnectivity of these pipelines, there is a significant
anticipated increase in demand for advanced leak and theft detection systems.
Pipeline operators will actively seek state-of-the-art solutions to ensure the
integrity and safety of their networks, thereby creating opportunities for
technology providers and service companies.
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market data Figures spread through 135 Pages and an in-depth TOC on
"Europe Oil & Gas Pipeline Leak and Theft Detection Market”
Based on source
of revenue, Software segment has emerged as the predominant market leader. The
software segment of the Europe Oil & Gas Pipeline Leak and Theft Detection
Market has been experiencing consistent growth in recent years. This growth is
driven by increasing investments in pipeline safety and security solutions,
regulatory compliance requirements, and the need for advanced data analytics.
Monitoring and Analytics Software solutions gather and analyze data from
various sensors, including pressure, temperature, and flow sensors, to identify
anomalies and potential leaks. Predictive maintenance software utilizes machine
learning algorithms to forecast equipment failures and proactively schedule
maintenance, minimizing the risk of leaks caused by equipment malfunctions. The
software segment is rapidly evolving, with a notable emphasis on the
integration of advanced technologies such as artificial intelligence (AI) and
machine learning (ML). AI and ML algorithms can analyze large volumes of sensor
data in real-time, enhancing the accuracy of leak and theft detection.
Stringent environmental regulations in Europe necessitate pipeline operators to
invest in software solutions that ensure compliance, encompassing software for
monitoring emissions, tracking spills, and managing environmental impact
assessments.
Based on technology,
Vapor sensing segment is expected to grow during the forecast period. Vapor sensing technologies encompass
various methods for detecting the presence of volatile gases and substances in
and around pipelines. Gas sensors are specifically designed to detect gases
such as methane, hydrogen, or volatile organic compounds (VOCs) that may
indicate a leak. IR sensors can detect specific gases based on their absorption
of infrared light. Vapor sensors are utilized to identify and locate leaks in
pipelines by detecting the gases or substances released during a leak event.
These sensors are also effective in detecting unauthorized access or tampering
with pipelines, such as siphoning or tapping, for theft purposes. The
increasing popularity of miniaturized gas sensors is attributed to their
portability and suitability for remote monitoring applications. Vapor sensing
solutions are progressively integrated with IoT platforms and networks to
facilitate real-time monitoring and data analysis. Vapor sensing technologies
play a crucial role in aiding pipeline operators to comply with stringent
environmental and safety regulations in Europe, minimizing environmental
impact, and ensuring the safety of nearby communities.
Major companies
operating in Europe Oil & Gas Pipeline Leak and Theft Detection Market are:
- Siemens AG
- Honeywell International Inc.
- Schneider Electric SE
- Baker Hughes
- ABB Ltd
- TotalEnergies
- TechnipFMC
- ROSEN Group
- T.D. Williamson, Inc.
- SENSIT Technologies
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“Russia is
expected to dominate the market during the forecast period. Regulatory harmonization and alignment between Russia
and European countries can facilitate the exchange of technologies and best
practices in pipeline leak and theft detection. This alignment can help reduce
barriers to entry for Russian companies in the European market while promoting
the sharing of expertise and advancements in this field.,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based management
consulting firm.
“Europe Oil & Gas Pipeline Leak and Theft
Detection Market By Location of Application (Buried, Subsea and Petrochemical),
By Method of Leak (Internal and External), By Source of Revenue (Hardware,
Software and Aftersales services), By Equipment (Flowmeters, Cable sensors,
Pressure sensors, Acoustic sensors and Others), By Technology
(Ultrasonic/acoustic, Vapor sensing, Fiber optic, Flow monitoring and Others),
By Country, By Competition Forecast & Opportunities, 2018-2028”,
has evaluated the future growth potential of Europe Oil & Gas Pipeline Leak
and Theft Detection Market and provides statistics & information on market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Europe Oil &
Gas Pipeline Leak and Theft Detection Market.
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