Oil and Gas Pipeline Leak Detection - Global Industry Analysis 2020

Rapid growth in the oil and gas sector is likely to boost growth in the oil and gas pipeline leak detection market. The global demand for oil and gas pipeline leak detection market is primarily driven by the growing energy demand. Furthermore, increased global demand for fuel is expected to propel growth in the oil and gas pipeline network around the world. Rapid development of pipeline network increases the risk of oil and gas pipeline leakage; it may further lead to a potential disaster and accidents. Pipelines are one of the key modes of transporting oil and gas from the point of production to the point of consumption; and are increasingly used to transport oil and gas owing to the efficient and safe mode of transport. Pipeline material corrosion and failure are some of the major reasons for the oil and gas pipeline leakages.

The oil and gas pipeline leakage can result in significant revenue loss as well as loss of goodwill to the market players in the oil and gas pipeline industry. Rise in demand for exploration and production activities around the world is anticipated to boost growth in the global oil and gas pipeline leak detection market. The global oil and gas pipeline leak detection market is anticipated to register substantial growth in the future on account of factors mentioned above; these factors are further anticipated to attract investment in the pipeline leakage detection market.

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Large-scale expansion of oil and gas across the globe is estimated to drive growth in the oil and gas pipeline leak detection market. The global oil and gas pipeline leak detection market can be segmented on the basis of technology and geography to provide a holistic view of the market. On the basis of technology, the global oil and gas pipeline leak detection market can be segmented as Flow meters, Infra-red detection, Fiber optic sensors, and Pressure sensors.

Increased investment in the offshore development and development of remote field is anticipated to bolster growth in the global oil and gas pipeline leak detection market. The global oil and gas pipeline leak detection market is estimated to rise significantly in the future. The following underlying factors are the key drivers of growth in this market. Market’s growth is primarily driven by rising energy demand around the world. Furthermore, increased oil and gas demand is anticipated to bolster growth in the global oil and gas pipeline leak detection market. Additionally, rise in exploration and production activities are anticipated to propel growth in the global oil and gas pipeline leak detection market across the globe. Increasing environmental concerns regarding oil spills and gas leakage are also likely to play a key role in growth of the global oil and gas pipeline leak detection market.

The global oil and gas pipeline leak detection market is rising and is estimated to rise at a significant rate in the future. North America is expected to hold the largest market share in the global oil and gas pipeline leak detection market. The Middle East and Africa is one of the fastest growing markets; and is estimated to rise at the highest rate in the future. Large-scale expansion in the pipeline network in this region is projected to increase the demand for oil and gas pipeline leak detection market. Asia Pacific and Europe are emerging oil and gas pipeline leak detection market; and are likely to play a key role in growth of the global market.

Some of the key players in the global oil and gas pipeline leak detection market include Honeywell International, Inc., Pure Technologies, Perma-Pipe, Inc., Schneider Electric and Siemens AG.

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