Global Pipeline Monitoring System Market to dominated by Crude & Petroleum industry till 2026
Growing safety concerns and
rise in demand for oil and gas industry is expected to drive the demand of the
global pipeline monitoring system market for the forecast period.
According to TechSci Research report, “Pipeline
Monitoring System Market - Global Industry Size, Share, Trends, Opportunity
and Forecast, 2016-2026 Segmented By Type (Metallic, Non-metallic, Others), By
Technology (Ultrasonic testing, Smart ball, Magnetic flux leakage technology
and Others), By End-User Industry (Crude & Petroleum,
Water & Wastewater, Others), By Application (Operating Efficiency, Leak
Detection, Pipeline Break Detection) and By Region”, the global pipeline monitoring system market is
expected to grow at a steady CAGR for the forecast period, 2022-2026. Pipelines
are used to carry liquids, including wastewater, water and oil, and gas. These
pipes are constructed in extremely harsh conditions, which could deteriorate
pipe quality, resulting in leakage. Pipeline monitoring systems are used to
collect samples without producing the waste and therefore aids in taking
precautionary measures for both the offshore and onshore fields. The increase
in oil and gas leakage and the presence of strict government regulations
providing the required safety and monitoring of pipelines are expected to fuel
the market demand. The growing concerns regarding pipeline security and the
surge in the expenditure to build durable and quality pipeline monitoring
systems are expected to accelerate the market demand.
However, the need for high initial investment and the
unavailability of funding in developing economies may restrain the growth of
the global pipeline monitoring system market for the forecast period.
Browse XX Figures spread through 110 Pages and an
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Global
pipeline monitoring system market is segmented into type, technology, end-user
industry, application, regional distribution, and company. Based on the type, the market is divided into
metallic, non-metallic, and others. The metallic segment type is expected to
account for major market share for the forecast period, 2022-2026. Metals are
the core material used for the construction of pipes and are superior in
strength and durability. Metal pipes exhibit excellent properties independent
of the liquid flowing through the pipe.
Based
on the end-user industry, the market is divided into crude & petroleum,
water & wastewater, and others. The crude & petroleum segment is
expected to hold a significant market share for the forecast period, 2022-2026.
The rise in the number of pipeline construction activities due to the growing
energy requirements influences market demand.
Based
on the technology, the market is divided into ultrasonic testing, smart ball,
magnetic flux leakage technology, and others. The ultrasonic testing technology
segment is expected to dominate the market for the next five years. It is in high demand the maintain the quality
and fault detection in the manufacturing and metallurgy industry. Ultrasonic
testing for pipeline inspection does not harm the pipe or the operators and
provides instantaneous results. It is highly sensitive, which aids in providing
precise results along with the presence of a wide detection range, thereby
making it suitable for various applications.
Based
on application, the market is divided into operating efficiency, leak
detection, pipeline, and break detection. The leak detection segment is
expected to hold a significant market share for the forecast period. The leak
detection system detects the presence of a leak on the basis of physical parameters
such as pressure, temperature, flow, and density which aids in the damage
detection of the pipeline infrastructure. The increase in the investments by
the oil and gas companies to ensure the safe transportation and pipeline
monitoring system is contributing to the market growth.
Orbcomm
Inc., Transcanada, Honeywell International Inc, PSI AG, Siemens AG, Huawei
Technologies Co. Ltd., Bae Systems Inc., Pure Technologies, C-Fer Technologies,
Perma-Pipe Inc. are the leading players operating in global pipeline monitoring
system market.
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“Market
players are investing a vast amount in technological advancements to monitor
the pipeline monitoring system efficiently. Innovative techniques to monitor
the pipeline performance, utilize the resources, and use the automation
technology to achieve higher security and safety of the workplace and workers are
expected to contribute to market growth. Also, the use of novel technologies,
including the internet of things, connected pipelines, digital acoustic
sensing, and stringent government regulations emphasizing the safety of the
pipelines to avoid the occurrence of accidents, is expected to propel the
global pipeline monitoring system market growth till 2026” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global management
consulting firm.
“Pipeline Monitoring
System Market - Global Industry Size, Share, Trends, Opportunity and Forecast,
2016-2026
Segmented By Type
(Metallic, Non-metallic, Others), By Technology (Ultrasonic testing, Smart
ball, Magnetic flux leakage technology and Others), By End-User Industry (Crude
& Petroleum, Water & Wastewater, Others), By Application (Operating
Efficiency, Leak Detection, Pipeline Break Detection) and By Region” has
evaluated the future growth potential of global pipeline monitoring system
market and provided statistics & information on market size, shares, 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 the of global pipeline
monitoring system market.
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