Distributed Temperature Sensing Market 2021 Technology Developments and Future Growth -Schlumberger Limited, Halliburton Company, Yokogawa Electric Corporation, Weatherford International PLC, Sumitomo Electric Industries, Ltd., Banner Engineering Corp, AP

The “Distributed Temperature Sensing Market” report is an in-depth study of the market, along with an analysis of its key segments. The relationship is built through extensive primary and secondary research. In-depth market data is generated through interviews and data collection from industry experts and professionals. The study is a detailed document on key aspects of the markets including trends, segmentation, growth prospects, opportunities, challenges, and competitive analysis.

The Distributed Temperature Sensing Market is expected to register a CAGR of 7% over the forecast period 2020 to 2025.

The report is updated with the impact of the currently ongoing COVID-19 pandemic. The pandemic has dynamically affected key market segments and changed the growth pattern and demands in the Distributed Temperature Sensing market. The report covers an in-depth analysis of these changes and provides an accurate estimate of the market growth forecast after the impact of the pandemic.

The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Global Distributed Temperature Sensing Market: Schlumberger Limited, Halliburton Company, Yokogawa Electric Corporation, Weatherford International PLC, Sumitomo Electric Industries, Ltd., Banner Engineering Corp, AP Sensing GmbH, OMICRON Electronics GmbH, OFS Fitel, LLC, Bandweaver Technologies, GESO GmbH & Co., NKT Photonics, Omicron Electronics GmbH, Micron Optics, Inc., Sensornet Limited

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Industry News and Developments:

- Feb 2020 - Schlumberger announced the opening of a world-class manufacturing center in King Salman Energy Park (SPARK). The center will manufacture various technologies including liner hangers and packers and valve technologies, such as GROVE valves and ORBIT rising stem ball valves, to help improve the efficiency of oil and gas operations in the Kingdom and neighboring countries.

- Nov 2019 - NKT Photonics expanded its reach to the United States by opening a new facility in Boston. This facility not only serves as sales and support but it also accommodates an application & service laboratory and state-of-art single-frequency fiber laser production.

Key Market Trends

Distributed Temperature Sensing Technology to have Major Application in Oil & Gas Production

- The oil and gas segment is anticipated to hold to the largest market share in the forthcoming years. DTS technology has become an indispensable part of the oil & gas industry. The need to know the vertical thermal profile and the real-time temperature is growing, leading to the widespread use of DTS across petrochemical plants, drilling, pipelines, floating-roof tanks/fixed-roof tanks, and others.

- DTS systems assist in continuous, real-time downhole monitoring to optimize the operational and economic performance of assets. This enables reservoir engineers to understand the injection and production dynamics better and, accordingly, maximize production and improve recovery, subsequently leading to improved profits.

- The DTS market has developed rapidly over the years, and DTS measurements are an integral part of the Oil & Gas industry. Because of its secure and reliable use even in hostile environments (HT, HP, H2S, explosion protection area), an increase in the use of DTS measurements can be expected. DTS measurements can be used in a wide range of applications, such as oil wells installation, monitoring pressure vessels, and monitoring for leaks in gas pipelines.

- The progress of unconventional resources, such as heavy oil, shale gas, and oil sands, has been growing in line with the rise in global energy demand. For instance, Yokogawa has developed the DTSX200 distributed temperature sensor (DTS) to facilitate the efficient recovery of unconventional resources by monitoring temperature distribution underground, thus improving the efficiency of natural resource production.

- An example is the application of DTS for gas lift performance monitoring in oil producers by measuring the thermal effects from the flow of lift gas through the valves into the production tubing to determine the active, inactive, and possibly leaking valves, and, also, the unloading depth.

APAC to Dominate the Market during Forecast Period

- Asia-Pacific region is the fastest-growing market for Distributed Temperature Sensing, owing to the established oil & gas production industry and increasing technological advancements in developing countries such as China, Japan, and South Korea.

- The growing construction activities globally and the expanding network of power transmission cables in technologically developing countries in APAC, such as China and India, are adding to the growth of the DTS market in this region.

- China, India, South Korea, and Australia are some of the principal nations contributing to the growth and development of the DTS market in this area. The presence of several oil & gas companies in APAC is also driving the growth of the DTS market.

- Further, many enterprises operating in this region are spending on R&D to develop distributed temperature sensors, that could bring in advancements in the oil & gas industry.

- For instance, TDLS8100 probe-type tunable diode laser spectrometer, developed by Yokogawa Electric Corporation, is used for high pressure and high-temperature gas concentration measurement applications and is intended for use in measuring the flowing gases.

- Further, various firms, such as India, China, and South Korea, are actively trying to strengthen their position by entering into numerous public and private collaborations to leverage distributed temperature sensing advancements for automation and other industrial applications.

- For instance, NKT Photonics inaugurated a new office in Shenzhen for expanding its reach to China. This facility is provided with the latest products from NKT Photonics' ultra-fast laser portfolio and a broad range of high-end measurement and test equipment. This expansion reinforces its presence in China and facilitates further growth.

For a comprehensive understanding of market dynamics, the global Distributed Temperature Sensing market is analyzed across key geographies namely: United States, China, Europe, Japan, South-east Asia, India, and others. Each of these regions is analyzed on basis of market findings across major countries in these regions for a macro-level understanding of the market.

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Influence of the Distributed Temperature Sensing market report:

-Comprehensive assessment of all opportunities and risks in the Distributed Temperature Sensing market.

–Distributed Temperature Sensing market recent innovations and major events.

-Detailed study of business strategies for growth of the Distributed Temperature Sensing market-leading players.

-Conclusive study about the growth plot of Distributed Temperature Sensing market for forthcoming years.

-In-depth understanding of Distributed Temperature Sensing market-particular drivers, constraints, and major micro markets.

-Favourable impression inside vital technological and market latest trends striking the Distributed Temperature Sensing market.

What are the market factors that are explained in the report?

-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

-Analytical Tools: The Global Distributed Temperature Sensing Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

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