As Increasing Number of Leakages Caused in Wells; Leak Detection Market Estimated to Reach US$ 1373.7 Million by 2021 Scrutinized in New Research: Says Absolute Markets Insights

Depending on the highly effective leak detection technique, which can accurately monitor the ricks, this is a factor in driving market growth, where the risks of leakages can be controlled. Some of the potential benefits of leak detection techniques are: improved environmental quality and reduced risk of contamination, early detection of leaks, which in turn helps in reducing cost these are the few factors helping the leak detection market to fuel the growth in future.

Government and environmental organizations have urged oil and gas companies to invest more in equipment, which are still reliable. There are few challenges with the current leak detection technology, which hide the efforts of oil & gas companies that are trying to effectively mitigate leakage. The primary challenge with the current technology is that it should have the capacity to perform identification, quantification, localization and classification. However, this has led to low quality and demand of techniques, creating high competition in the global leak detection market.

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Most Prominent Key Players include in this study: Siemens AG, Honeywell International Inc., Baker Hughes, Inc., Krohne Group, Schneider Electric, Ziebel A.S., Future Fibre Technologies Ltd., Fotech Solutions Ltd., Omnisens S.A., Silixa Ltd. Schlumberger Limited, TGT and others.

The energy demand is on hike with social and economic development in the many countries globally. Oil and gas exploration and production are core activities of oil and gas industries. The purpose of research is to analyze the commercially viable reserve of oil and gas. New technologies are providing diverse but uncertain opportunities for production activities in oil and gas in many parts of the world. Hence, the exploration and production activities are expected to increase and develop in the future, contributing to the growth in the leak detection market.

The Fiber Optic Sensors is Projected to be the Dominant Segment During the Forecast Period, 2018-2026

Fiber Optic Sensor is one of the leak detection type, which is used for monitoring the leakage of pipeline as well as detects through temperature. Long-spaced temperature profile inspection by optical fiber, which offers a very effective way to check the leakage with pipelines.. Due to its major properties such as, extended range, long-term stability, transportable system as well as cost effective for large no. of measurement points, that helps to view and analyze all its data with one single interface, which in turn favours the market to hold substantial position worldwide.

Emerging pipeline projects in Middle-East and Africa is driving the Leak Detection Market Growth

Due to the large number of planned projects for pipelines, due to the wide network of pipelines, the Middle East and Africa have the most market for identifying oil and gas pipeline leakage. For instance, in East Africa, Ugandan section of the pipeline are planned to installed with 230km of 33kV power cables and 296km of fibre-optic cables in near future as well as many new projects are lined up for installation. As a result, this region is projected for the best growth rate during the forecast period 208-2026.

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Segmentation on the basis of Technology:
• Fiber optic leak detection
 Distributed Temperature Sensing (DTS),
 Distributed Acoustic Sensing (DAS)
• Vapour-Sensing Tubes, Enhanced Real-time Transient Mode (E-RTTM)
• Acoustic Pressure Waves

Segmentation on the basis of Product Type:
• Flow Meters
• Fiber Optic Sensors
• Pressure Sensors

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Segmentation on the basis of Regions:

North America
 U.S.
 Rest of North America

Europe
 France
 The UK
 Spain
 Germany
 Italy
 Rest of Europe

Asia Pacific
 China
 Japan
 India
 Southeast Asia
 Rest of Asia Pacific

Middle East and Africa
 GCC Countries
 Southern Africa
 Rest of Middle East and Africa

Latin America
 Brazil
 Rest of Latin America

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We convert complex data and findings presented by researchers from some of the most conflict challenged markets in the world into explicit market research reports. Our market studies covers a market size of over 30 sectors ranging from agriculture to IT & Telecom, from consumer goods to machinery and equipment and so forth. Market Research is often overlooked by companies, who tend to invest undue time and money on marketing and sales. We believe that market research is harmfully important to win market share.

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This release was published on openPR.