Global Pipeline Security Market Trends, Business Overview, Industry Growth and Forecast to 2022-2028

The global pipeline security market is anticipated to grow at a significant CAGR of 6.3% during the forecast period (2022-2028). Since the 18th century, the pipeline system has been exploited for commercial purposes. Pipelines are the safest, most dependable, and efficient way to move vast amounts of natural gas, crude oil, chemicals, and water across national borders. Pipeline installations are the vital infrastructure of great importance and value, and their disruption can have a substantial impact on serving people's and organizations' requirements while also harming the environment. Natural gas demand is expected to grow at a greater rate than coal and oil demand in the future, which would require led huge pipeline infrastructure. This in turn will increase the need for pipeline security.
The market players are additionally, contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, in order to stay competitive in the market. For instance-

• In August 2020, PetroChina, a petrochemical firm, received a variety of solutions and technology from Honeywell UOP. For startup and efficient operation, Honeywell would provide technological licensing, engineering design, critical equipment, operator training sessions, and technical services.

• In April 2020, The Barauni refinery of IOC picked ABB. In the next three years, IOC's Barauni refinery will increase its crude oil processing capacity by 50% to 9 million tonnes per year, through ABB's stable grid connection. With this purchase from IOCL, ABB will be able to play a bigger role in fulfilling future energy demand with its cutting-edge technologies.

• In February 2020, EcoStruxure Power SCADA Operation 2020, the current version of Schneider Electric's software, has been improved. The platform is intended to enable real-time vision and control in order to respond quickly. With enhanced cybersecurity and visual customization capabilities, the EcoStruxure Power edge control portfolio keeps demanding processes running.

• In May 2019, for offshore oil well drilling machinery, ABB introduced a cloud-based SCADA system. This cloud-based visualization solution enables small-scale operators to remotely acquire information about their onshore oil well drillings in the same way that large corporations do without having to invest in a full on-premise SCADA system.

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Market Coverage
• The market number available for - 2021-2028
• Base year- 2021
• Forecast period- 2022-2028

• Segment Covered-
o By Product
o By Technology

• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World

Competitive Landscape- Honeywell International Inc., General Electric Co., ABB Ltd., Rockwell Automation, Inc., and Siemens AG, among others.

Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

A full report of Global Pipeline Security Market is available at:
https://orionmarketreports.com/global-pipeline-security-market/105680/

Global Pipeline Security Market Report by Segment

By Product
• Natural Gas
• Crude Oil
• Hazardous Liquid/Chemicals Pipelines
• Others

By Technology
• SCADA System
• Perimeter Security/Intruder Detection System
• Industrial Control Systems Security
• Video Surveillance & GIS Mapping
• Pipeline Monitoring
• Others

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Orion Market Reports (OMR) endeavors to provide exclusive blend of qualitative and quantitative market research reports to clients across the globe. Our organization helps both multinational and domestic enterprises to bolster their business by providing in-depth market insights and most reliable future market trends. Our reports address all the major aspects of the markets providing insights and market outlook to global clients.

This release was published on openPR.