Saudi Arabia Pipeline Monitoring System Market is Expected to Grow at High CAGR by 2028 Owing to Rising Shift Toward Online Platforms
Rise
in security concerns will drive the growth of the Saudi Arabia pipeline
monitoring system market during the forecast period.
According
to TechSci Research report, “Saudi Arabia Pipeline Monitoring System Market
- By Region, Competition, Forecast and Opportunities, 2028”, Saudi Arabia
is the country with the fastest manufacturing growth, according to projected
average annual increase. Moreover, rising attention is being focused on
managing the rising number of leakage incidents in oil and gas pipelines, adhering
to onerous laws governing pipeline safety and leak detection, and the
establishment of additional channels. The government regulations governing
pipeline safety and leak detection, as well as the development of new routes,
are major drivers for the growth of the oil and gas leak detection industry in
Saudi Arabia. The Saudi Arabia pipeline monitoring system market is flourishing
as a result of Saudi Arabia's expanding energy consumption and increased import
and export of oil and gas. One of the main factors propelling the oil and gas
leak detection industry is the government rules governing pipeline safety and
leak detection. To meet the country's growing domestic energy demand, Saudi
Arabia is witnessing significant investments in the oil and gas industry,
which, in turn, will boost the growth of the Saudi Arabia pipeline monitoring
system market during the forecast period.
Recently,
several pipeline construction contracts for providing feedstock to the
petrochemical and refinery industries were awarded. With the growth of the GCC
pipeline network, there is an increasing need for reliable, affordable leak
detection systems. Due to growing environmental and pipeline safety concerns,
as well as the ability to reduce operators' clean-up costs, the Saudi Arabia
pipeline monitoring system market is anticipated to grow. Such factors are
anticipated to spur the growth of the Saudi Arabia pipeline monitoring system
market during the forecast period. However, the expansion of the Saudi Arabia
pipeline monitoring system market is expected to be constrained by the high
cost of oil and gas pipeline leak detection technology during the forecast
period.
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over XX market data Figures spread through XX Pages and an in-depth TOC on "Saudi Arabia Pipeline Monitoring System Market"
The
Saudi Arabia pipeline monitoring system market is divided into type,
technology, and end-user industry. Based on type, the market is divided into
metallic and non-metallic. Based on technology, the market is segmented into
ultrasonic, PIG, smart ball, magnetic flux leakage, fiber optic technology, and
others. Based on end user industry, the market is segmented into crude &
refined petroleum, water & wastewater, and others.
The
ultrasonic category, which accounted for the largest revenue share in 2023, is
anticipated to grow rapidly over the coming years. Through the use of
high-frequency sound waves and noise patterns, ultrasonic monitoring technology
can locate leaks and flaws within a wide range of pipelines. Acoustic emission
sensors are used, usually in response to changes in the background noise
pattern. By distinguishing and characterizing leak noises from those produced
by normal water flow, an acoustic detection device can identify leaks, thereby
driving the growth of the market. However, acoustic monitoring technology is
unable to pick up minor leakage that do not generate more audible background
noise.
The
metallic segment in the Saudi Arabia pipeline monitoring system market
contributed high CAGR in 2023, and it is anticipated to expand at the quickest
CAGR during the forecast period. Metallic pipes are frequently utilized in
manufacturing and transportation processes in oil and gas, petrochemical,
refinery, and power plants. Utilizing metallic pipes offers high corrosion
resistance, weldability, and higher yield & tensile strength. Examples
include alloy steel pipes, stainless steel pipes, carbon steel pipes, and
duplex stainless steel (DSS) pipes. These pipes work well for underground and
underwater transit because they can withstand high temperature and pressure and
perform more effectively when connected with pipeline monitoring systems. Due
to their low cost and comparatively low maintenance requirements, metallic
pipes are being used more frequently.
Key market players in the Saudi Arabia pipeline
monitoring system market include:
- ABB Electrical Industries Co. Ltd
- Honeywell Turki Arabia Ltd.
- Siemens Ltd
- Huawei Technologies Co., Ltd.
- Ge - Grid Solutions Arabia Ltd
- Rockwell Automation Saudi Arabia
- Schneider Electric Saudi Arabia
- Xylem Inc.
- Luna Innovations Incorporated
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“In
2023, metallic segment held the majority of the market's revenue. Pipeline
operators can enhance the efficacy of their leak detection programs by using
the leak detection solutions. In the event of a pipeline breakdown, leak
detection technologies automatically notify the operators, allowing them to take
rapid action to reduce the duration and volume of the spill. To provide
real-time analysis via land-based and aerial surveillance to monitor pipelines
carrying oil & gas products, the operators use leak detection solutions
utilizing volume & mass balance meter in, volume & mass balance meter
out, combination rate of change, simple rate of change, and computational
monitoring systems,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based global management consulting firm.
“Saudi
Arabia Pipeline Monitoring System Market–By Type (Metallic, Non-metallic), By
Technology (Ultrasonic, PIG, Smart Ball, Magnetic Flux Leakage, Fiber Optic
Technology, Others), By End-User Industry (Crude & Refined Petroleum, Water
& Wastewater, Others), By Region, Competition, Opportunities and Forecast,
2018-2028”, has
evaluated the future growth potential of the Saudi Arabia pipeline monitoring
system market and provides statistics and information on market structure,
size, share, and future growth. The report is intended 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 present in the Saudi Arabia
pipeline monitoring system market.
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