Press release
Oil and Gas Pipeline Leak Detection Market Size Is Set To Fly High In Years To Come | ClampOn AS, Krohne Messtechnik GmbH, TTK Leak Detection System
A recent study conducted by the strategic consulting and market research firm, Report Ocean, revealed that the oil & gas pipeline leak detection market was worth USD 3.5 billion in the year 2021. It is estimated to grow at a CAGR of 7.40%, earning revenue of around USD 5.7 billion by the end of 2028. With the increasing energy consumption and expanding import and export of oil and gas among states and nations, the oil & gas pipeline leak detection industry is thriving at a rapid pace. Furthermore, government rules governing pipeline safety and leak detection are a significant driving force for the oil and gas pipeline leak detection market. However, the high cost and complications associated with the installation of oil and gas pipeline leak detection technology may act as a huge restraining factor for the market growth.
Download Free Sample of This Strategic Report: https://reportocean.com/industry-verticals/sample-request?report_id=MR345
Rising Partnerships Of Industry Players Is Driving The Oil & Gas Pipeline Leak Detection Market
With the expanding demand for leak detection technologies, the market players are increasingly engaging in partnerships and collaborations to develop innovative technologies and launch new offerings. For instance, Hifi Engineering Inc., sensing and monitoring technology for intelligent wellbores and pipelines company, recently announced the release of the HDS Pipeline Pig Management Application (PMA) for pipelines as a part of their patented high fidelity distributed sensing platform.
Increasing Launches Of Advanced Detection Technologies Is Propelling The Growth Of The Market
The oil & gas pipeline leak detection companies are increasingly launching new products to gain a competitive edge and increase their product penetration. For instance, EPIC Midstream Holdings, LP recently launched safe and reliable pipeline transfer for crude oil and natural gas liquids customers. They are offering damage prevention, enhanced pipeline integrity, etc.
Oil & Gas Pipeline Leak Detection Market - By Technology
Based on technology, the oil & gas pipeline leak detection market is segmented into acoustic sensors, flowmeters, cable sensors, vapor sensors, and others. The technology of acoustic sensors has the biggest market share. It is one of the most important components of lead detection since it detects the leak's noise. Due to the increasing integration of modern technologies such as the Internet of Things, other sensors such as wire sensors and vapor sensors have a considerable market share (IoT).
Request To Download Sample of This Strategic Report:- https://reportocean.com/industry-verticals/sample-request?report_id=MR345
Oil & Gas Pipeline Leak Detection Market - Regional Insights
Geographically, the oil & gas pipeline leak detection market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. Due to increased energy and natural gas consumption, the Asia-Pacific region holds the highest share of the oil and gas pipeline leak detection market. However, the Middle-Eastern countries such as Saudi Arabia, Iraq, United Arabia Emirates, etc., are anticipated to register a high growth rate during the forecast period. These countries are major oil-producing countries and are also their biggest exporters, due to which the demand for oil and gas pipeline leak detection is rising at a high rate.
Impact of COVID-19 on Oil & Gas Pipeline Leak Detection Market
The unprecedented COVID-19 pandemic breakout interrupted the oil and gas pipeline leak detection market. The epidemic resulted in oil and gas import and export restrictions, as well as a considerable drop in worldwide demand. Furthermore, due to labor scarcity and social distance conventions, oil and gas pipeline installation activities were temporarily suspended. All of these obstacles made the expansion of the oil and gas pipeline lead detection industry extremely difficult, further hindering the market growth.
Competitive Landscape
The leading market players of the oil & gas pipeline leak detection market are Siemens AG, Bridger Photonics Inc., Honeywell International Inc., Perma-pipe Inc., PSI AG, Synodon Inc., FLIR International, Schneider Electric SE, ClampOn AS, Krohne Messtechnik GmbH, TTK Leak Detection System, Atmos International, and other prominent players.
The oil & gas pipeline leak detection market is mainly dominated by multinational corporations. The companies constantly launch new methods of leak detection and integrate advanced technologies such as sensors to innovate their offers. They also increasingly adopt competitive strategies such as partnerships, mergers, acquisitions, collaborations, etc., to gain a market edge.
Request To Download Sample of This Strategic Report:- https://reportocean.com/industry-verticals/sample-request?report_id=MR345
Market Segment:
By Location (Onshore, Offshore)
By Technology (Acoustic Sensors, Flowmeters, Cable Sensors, Vapor Sensors, Others)
By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA)
Dont miss the business opportunity of the oil & gas pipeline leak detection market. Consult our analysts to gain crucial insights and facilitate your business growth.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the oil & gas pipeline leak detection market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the oil & gas pipeline leak detection market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
Request full Report : https://reportocean.com/industry-verticals/sample-request?report_id=MR345
About Report Ocean:
We are the best market research reports provider in the industry. Report Ocean believes in providing quality reports to clients to meet the top line and bottom line goals which will boost your market share in today's competitive environment. Report Ocean is a 'one-stop solution' for individuals, organizations, and industries that are looking for innovative market research reports.
Get in Touch with Us:
Report Ocean:
Email: sales@reportocean.com
Address: 500 N Michigan Ave, Suite 600, Chicago, Illinois 60611 - UNITED STATES
Tel:+1 888 212 3539 (US - TOLL FREE)
Website: https://www.reportocean.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Oil and Gas Pipeline Leak Detection Market Size Is Set To Fly High In Years To Come | ClampOn AS, Krohne Messtechnik GmbH, TTK Leak Detection System here
News-ID: 2926676 • Views: …
More Releases from Report Ocean
Japan Internet Advertising Market CAGR of 24.9%, Behind the Scenes Techniques fo …
The Japan Internet Advertising Market has demonstrated remarkable growth, reaching a valuation of USD 29.49 Billion in 2021. With the digital landscape continually evolving, it is forecasted to soar to an impressive USD 112.04 Billion by 2027. This surge represents an anticipated compound annual growth rate (CAGR) of 24.9% over the projected period, highlighting the dynamic and rapidly expanding nature of the digital advertising sector in Japan.
Internet Advertising are set…
Location Analytics Market Through the Looking Glass Techniques for a Profound Un …
This comprehensive market research report offers an in-depth analysis of the global location analytics market from 2019 to 2026. Valued at USD 10,813.6 million in 2019, the market is forecasted to surge to USD 29,878.5 million by 2026, demonstrating a robust Compound Annual Growth Rate (CAGR) of 15.6% throughout the projection period. This report delves into the key drivers, restraints, opportunities, and challenges that are shaping the market, providing stakeholders…
Affiliate Marketing Platform Market Eyes Wide Open Maximizing the Value of Obser …
The Global Affiliate Marketing Platform Market, valued at USD 19,217.4 million in 2021, is projected to witness significant growth over the next decade, reaching an estimated value of USD 36,902.1 million by 2030.
This report provides an in-depth analysis of the market dynamics, growth drivers, challenges, and opportunities that will influence the affiliate marketing landscape over the forecast period of 2021-2030. With a Compound Annual Growth Rate (CAGR) of 7.7%,…
Global Clear Brine Fluids Market Growth Forecast and Trends (2022-2030)
The global clear brine fluids market was valued at US$ 0.95 billion in 2021. It is anticipated to experience growth, reaching a valuation of US$ 1.39 billion by 2030. This growth trajectory translates to a compound annual growth rate (CAGR) of 3.1% during the forecast period from 2022 to 2030. Clear brine fluids, crucial in the oil and gas industry for drilling and completion processes, are poised for increased demand,…
More Releases for Detection
Source Leak Detection
Water leaks are one of the most common problems faced by homeowners. Whether it's a leaking pipe, roof, or pool, if left unchecked, leaks can cause significant damage, increase water bills, and require costly repairs. Leak detection is an essential service that helps identify and repair leaks early, saving water and preventing long-term damage. At Source Leak Detection, we use advanced, non-invasive methods to quickly locate and fix leaks in…
Latent TB Detection Market: Government Initiatives to Promote Tuberculosis Detec …
The growth of the market is attributed to the increasing prevalence of tuberculosis and government initiatives to promote tuberculosis detection. However, multidrug resistant tuberculosis (MDR-TB) is likely to hamper the growth of the Latent TB Detection market to a certain extent.
The latent TB detection market is expected to reach US$ 1,684.86 million in 2027 from US$ 1,131.82 million in 2019. The market is estimated to grow with a CAGR of…
Chemical Detection Technology Market Analysis 2019 Top Growing Companies: S.E.In …
Global Chemical Detection Technology Market Research Report 2019-2025
Chemical detection technology is used to detect chemical agents (CA), toxic industrial chemicals (TIC), and toxic industrial materials (TIM). Chemical detection technologies plays a vital important role in the monitoring of chemical plants and industries.
The report provides a basic overview of the industry including definitions and classifications. The Chemical Detection Technology Market analysis is provided for the international markets including development tends,…
X-ray security screening system market comprehensive Growth On Morpho Detection, …
MarketStudyReport.com offers 2017 report on global X-Ray Security Screening System market that evaluates industry growth trends through historical data and estimates future prospects based on comprehensive research. The report extensively provides the market share, growth, trends and forecasts for the period 2017-2024.
X-ray security screening system market is expected to grow over the estimated timespan, owing to the increasing adoption at the border crossing points to ensure safety and security.…
Financial Fraud Detection Software Market Report 2018: Segmentation by Type (Mon …
Global Financial Fraud Detection Software market research report provides company profile for Banker's Toolbox, Verafin, Cellent Finance Solutions, Safe Banking Systems, Truth Technologies, Gemalto NV, SEKUR.me, CipherCloud, SIGNIFYD Inc, Riskified Ltd, ACI Worldwide, EastNets and Others.
This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of volume, revenue, YOY growth rate,…
Explosive Trace Detection Market – Product advantages 2028 | Smiths Detection, …
Global Explosive Trace Detection Market: Overview
The global explosive trace detection market is prognosticated to witness a surge in its growth due to the increase in terrorist activities across the world. One of the primary factors augmenting the demand in the global explosive trace detection market could be the growing need to improve security screening procedures. There are a number of government regulations implemented to bring a much needed change in…
