Distributed Temperature Sensing Market to Grow Due to Increased Demand from Oil & Gas Sector
Increase in the demand for high precision & very high
response time for temperature sensing with rising demand from oil & gas
applications all over the globe will boost the manufacturing of advanced distributed
temperature sensing systems for the rapidly growing industries.
According to TechSci Research report, “Distributed Temperature Sensing Market - Global
Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F,” the global distributed temperature
sensing market is growing on account of the increasing demand for monitoring
continuous temperature change over the long distances with larger surface areas
in the oil & gas sectors of the rapidly growing industries. Moreover, the
need for the enhanced safety and security for maximum productivity will
positively influence the Global Distributed Temperature Sensing Market in the
upcoming years.
In the Global Distributed Temperature
Sensing Market, North America was the largest contributor of the market share
in 2022. United States (US) is the largest contributing country in the region
for the forecast period, followed by Canada and Mexico. Being the world’s
largest Distributed Temperature Sensing manufacturers and exporter, North
America’s growing urbanization and research technologies are contributing to
the country’s leading market position. Meanwhile, Asia-Pacific is growing at a
quicker pace due to its increasing temperature monitoring demand in the
forecast years with the ongoing advancements in R&D for the need for
miniature sensing systems in the upcoming years.
With the rise in the need for
technological advancements in the fiber-optics industry, the global distributed
temperature sensing market is going to grow in the coming years. Those
opto-electronic devices provide a continuous outline for the temperature
distribution along the cable. Initiated in the 1980s, distributed temperature
sensing systems have experienced significant improvements in the technology and
the application scenario over the last decades. Distributed temperature sensing
systems are one of the most promising directions in the development of systems
for controlling the temperature of high-voltage power lines, fire alarm
systems, oil and gas fields, etc.
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The Global Distributed Temperature Sensing Market can be segmented based on
operating principle, fiber type, application, region and competitive landscape.
In terms of operating principle, the market can be divided into Optical Time
Domain Reflectometry and Optical Frequency Domain Reflectometry. The Optical
Time Domain Reflectometry segment dominated in 2022 due to the high demand for
high accuracy and precision in detecting temperature change over larger
distances with the growing economies. The demand for the ease of monitoring
continuous change in the temperature drives the Optical Time Domain
Reflectometry segment of the Global Distributed Temperature Sensing Market.
On the basis of Fiber type, the market
is branched into Single-Mode Fiber and Multi-Mode Fiber. The Single-Mode Fiber
segment dominated the market in 2022 owing to its need for temperature
monitoring in larger surfaces of petroleum sectors, submarines and underground
areas. This increase is due to the high temperature monitoring in hydrogen
based darkening effect. Based on application, the market can be segmented into
Oil & Gas, Power Cable Monitoring, Process & Pipeline Monitoring, Fire
Detection and Environmental Monitoring. The Oil & Gas segment accounts for
the largest market share in 2022 due to the increasing proliferation in the
industries with the generation of significant revenue in the market.
Companies operating in the market are
using organic strategies to develop and launch new products with mergers and
acquisitions to boost their shares in the Global Distributed Temperature
Sensing Market. Significant players in the market are concentrating on
accomplishing ideal operational expenses, upgrading the system response time,
enhancing accuracy, boosting productivity with high funding in R&D, and
boosting performance in the competitive Distributed Temperature Sensing market.
Key market players in the Global Distributed Temperature Sensing market
include:
- Baker Hughes
Company
- Schlumberger
Limited
- LIOS
Technology GMBH
- Halliburton
Company Corporation
- Yokogawa
Electric Corporation
- AP Sensing
GmbH
- Bandweaver
Technologies Pvt. Ltd.
- Sensornet
Limited
- Sumitomo
Electric Industries, Ltd.
- Weatherford
International plc
Recent Developments
In
October 2019, OneSubSea, a secondary of Schlumberger, was endowed a contract by
A/S Norske Shell (Norway), an oil & energy company. The company signed the
agreement for an engineering, procurement, construction, and installation
(EPCI) contract for the resource of a subsea multiphase compression system for
the Ormen Lange field in the Norwegian Sea.
In
February 2020, SOCAR-AQS (Azerbaijan) and Halliburton employed a memorandum of
understanding (MOU) to form a new mutual endeavor to provide a broad collection
of oilfield products and facilities in Azerbaijan.
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“Ongoing advancements in R&D with the need for miniature sensing systems
across the globe are boosting the Global Distributed Temperature Sensing Market
in the forecast years. The extensive need for temperature sensing systems with
high precision among subsea areas of industries is a boosting factor for the
market globally. Moreover, supportive government policies for distributed
temperature sensing technologies has also been positively influencing the
market with a continuous urge for launching new products in the upcoming years.”
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“Distributed Temperature Sensing
Market - Global Industry Size,
Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Operating Principle
(Optical Time Domain Reflectometry and Optical Frequency Domain Reflectometry),
By Fiber Type (Single-Mode Fiber and Multi-Mode Fiber), By Application (Oil
& Gas, Power Cable Monitoring, Process & Pipeline Monitoring, Fire
Detection and Environmental Monitoring), By Region, Competition Forecast &
Opportunities, 2028”, has evaluated the future growth potential of Global Distributed
Temperature Sensing Market and provides statistics and information on
market structure, size, share, and future 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 Global Distributed
Temperature Sensing Market.
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