Pipeline Monitoring System Market worth $ 13.7 Billion in 2021 - Exclusive Report by xResearch offering Market Sizes, Forecast, & Competitive Landscape

According to a new report published by xResearch, titled, “Pipeline Monitoring System Market Insights, Trends, Opportunity & Forecast, 2021–2030,” the global pipeline monitoring system market size is anticipated to witness moderate growth during the forecast period i.e. 2021-2030. The increasing number of underwater & underground pipelines and oil and gas production activities across the world; the rising number of oil & gas leakages in production, pipelines, and storage tanks due to natural disasters and high pressure; the escalating demand for pipeline monitoring systems across the crude & refined petroleum and water & wastewater industries; the proliferating awareness regarding the significance of pipelines networks; and the growing need to detect & prevent small leaks or damages; are among the major factors contributing to the growth of the global pipeline monitoring system market.

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According to pipe type, the metallic segment captured largest share of the global pipeline monitoring system market in 2020. The segment’s position is anticipated to remain unchanged during the forecast period of 2021-2030. According to end-use industry, the crude & refined petroleum segment acquired the largest share of the global pipeline monitoring system market in 2020. The segment is expected to retain its dominance further in the market during the forecast period. According to technology, the ultrasonic segment led the global pipeline monitoring system market in 2020. The segment is projected to maintain with its lead in the market during the forecast period. On the other hand, the PIGs segment is expected to attain the highest CAGR in the market during the forecast period. According to solution, the leak detection segment dominated the global pipeline monitoring system market in 2020, and is expected to continue doing the same over the forecast period.

Geographically, the North American region accounted for 35.0% market share and led the global pipeline monitoring system market in 2020, followed by Europe and Asia-Pacific. The region is predicted to further retain its dominance in the market during the forecast period. The U.S., Canada, and Mexico are among the key contributors to the market's growth in the region. The Asia Pacific region is projected to achieve the highest growth in the market during the forecast period of 2021-2030. Countries such as India, China, Japan, Singapore, and Indonesia are among the key contributors to the growth of the market in the region.

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Some of the major pipeline monitoring system companies profiled in the report include Huawei Technologies Co. Ltd., BAE Systems, Honeywell International Inc, PSI AG, Siemens AG, ABB group, Schneider, GE, Perma Pipes, and TransCanada Pipelines Ltd.

The global pipeline monitoring system market is segmented into pipe type, solution, technology, end-use industry, and region. Based on pipe type, it is classified into metallic, non-metallic, and others. The others segment is further categorized into concrete pipes and asbestos cement pipes. Based on solution, it is classified into leak detection, pipeline break detection, operating condition, and others. Based on technology, it is classified into ultrasonic, PIGs, smart ball, magnetic flux leakage, fiber optic technology, and others. Based on end-use industry, it is classified into crude & refined petroleum, water & wastewater, and others.

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The global pipeline monitoring system market is analyzed across North America (U.S. & Canada), Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Indonesia, Thailand, Australia, New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of Latin America) and Middle East & Africa (GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, and Rest of Middle East & Africa).

Key Insights of Pipeline Monitoring System Market

• On the basis of pipe type, the metallic segment captured largest share of the global pipeline monitoring system market in 2020. The segment’s position is anticipated to remain unchanged during the forecast period of 2021-2030.
• On the basis of end-use industry, the crude & refined petroleum segment acquired the largest share of the global pipeline monitoring system market in 2020. The segment is expected to retain its dominance further in the market during the forecast period.
• On the basis of technology, the ultrasonic segment led the global pipeline monitoring system market in 2020. The segment is projected to maintain with its lead in the market during the forecast period. On the other hand, the PIGs segment is expected to attain the highest CAGR in the market during the forecast period.
• On the basis of solution, the leak detection segment dominated the global pipeline monitoring system market in 2020, and is expected to continue doing the same over the forecast period.
• On the basis of region, the North America accounted for 35.0% market share and led the global pipeline monitoring system market in 2020, followed by Europe and Asia-Pacific. The region is predicted to further retain its dominance in the market during the forecast period.
• On the basis of region, the Asia Pacific region is projected to achieve the highest growth in the market during the forecast period of 2021-2030.

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This release was published on openPR.