Pipeline Monitoring System Market Is Expected To Grow At A CAGR Of 7% By 2023

Market Highlights:

The pipeline monitoring systems market is expected to grow during the forecast period owing to increase in number of oil & gas leakages in production, pipelines, and storage tanks caused by the natural disasters and high pressure in the pipelines. The introduction of stringent government regulations for pipeline safety and security and the rapid expansion and up gradation of pipelines is further contributing to the growth of the market. The growth of pipeline monitoring systems is further contributed by the development of new devices and solutions for the monitoring of pipeline performance, optimization of resources, automating the functions, and safeguarding the operations.

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Market Research Analysis:

Based on technology, the ultrasonic testing segment is expected to dominate the market owing to its increased use by the oil and gas companies for detecting the small and large leakages. The small ball technology is also expected to grow and the growth of this technology can be attributed to the effective utilization of these balls through pipelines with long inspection capability from single deployment.

On the basis of application, the leak detection segment is expected to grow at the highest CAGR owing to the increase in focus on improving the control over pipeline infrastructure and automation of the process for improving the productivity, which would enable the monitoring of conditions of assets and alert the authorities in case of unauthorized events. The increase in investments by the oil & gas companies in pipeline monitoring infrastructures and safe transportation of the material through it is also fuelling the growth of the leak detection systems in the market.

Scope of the Report:

This study provides an overview of the global Pipeline Monitoring System market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global Pipeline Monitoring System market by its type, technology, application and region.

By Type

Metallic
Non-metallic
Concrete pipes
Asbestos cement pipes

By Technology

Ultrasonic testing
Smart ball
Magnetic flux leakage technology
Others

By Application

Operating Efficiency
Leak Detection
Pipeline Break Detection

By Region

North America
Asia Pacific
Europe
Rest of the World

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Key Players:

The key players of global Pipeline Monitoring System market report includes ABB (Switzerland), Emerson (U.S.), Honeywell International (U.S.), Schneider Electric (France), Siemens AG (India), Badger Meter (U.S.), Bentek Systems Ltd. (Canada), General Electric (U.S.), HollySys Automation Technologies (China) and Inductive Automation (U.S.) among others.

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This release was published on openPR.