Oil & Gas Pipeline Leak and Theft Detection Market in APAC to Cross $ 0.9 Billion by 2022
Surging oil &
gas consumption across the region and rising investments in oil & gas
production to fuel growth in Asia-Pacific oil & gas leak and theft
detection market through 2022
According to a recently published
TechSci Research report, “Asia-Pacific
Oil and Gas Pipeline Leak and Theft Detection Market By Onshore Vs. Offshore, By Application, By Source of Revenue, By
Equipment, and By Technology Competition Forecast & Opportunities,
2012–2022”, oil and gas
pipeline leak
and theft detection market
in Asia-Pacific region is anticipated to cross $ 0.91 Billion by 2022. Increasing demand for oil & gas leak and theft
detection systems in Asia-Pacific can be attributed to growing demand for fuel,
rising offshore drilling activities and surging pipeline projects.
China and India are expected to experience highest growth in deep-water
oil & gas activities. Increasing demand for natural gas in countries like
Australia is expected to propel development of pipeline infrastructure in the
region. Moreover, rising capital intensive developments in unconventional
sources and growing offshore exploration in Asia-Pacific have
resulted in an increase in demand for oil & natural gas, thereby aiding
growth in APAC oil & gas pipeline leak and theft detection market.
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Asia-Pacific market is expected to
continue to be a major market for downstream activities on the back of high
energy demand in the region. In India, during 2016-2017, a total of 15,918km of
natural gas pipeline network is expected to be added to the existing 16,250km,
which is expected to increase the existing capacity of 306 million standard cu.
meter per day (mscmd) to 415 million standard cu. meter per day (mscmd).
Moreover, internal
method of leak detection is the preferred method of detecting leaks in the
region, since internal methods of leak detection are more cost effective when
compared to external methods. Additionally, there are no specific guidelines
pertaining to the process of leak detection in most of the nations in this
region, which is discouraging the use of cost intensive leak detection methods.
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“Asia-Pacific oil & gas pipeline leak and theft
detection market is expected to increase at a moderate rate, when compared to
the growth that was witnessed by the market over the past five years. Growth in
the market can be attributed to increase in planned and under construction oil
& gas pipeline projects in the region to cater to the rising energy demand.”, said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“Asia-Pacific Oil and Gas Pipeline Leak and
Theft Detection Market By Onshore Vs. Offshore, By Application, By Source of
Revenue, By Equipment, and By Technology Competition Forecast &
Opportunities, 2012–2022” has evaluated the future growth potential of Asia-Pacific oil and gas pipeline leak
and theft detection market and provides statistics and information on
market structure. The report is intended to provide cutting-edge market
intelligence and help decision makers take sound investment evaluation.
Besides, the report also identifies and analyzes emerging trends along with
essential drivers, challenges available in Asia-Pacific oil and gas pipeline leak and theft detection market.
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