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Gas And Oil Pipeline Leak Detector Market Size, Share, Top Major Players, Business Strategies, Opportunities And Forecast To 2033
Gas And Oil Pipeline Leak Detector Market Size
As per the report, the gas and oil pipeline leak detector market size has grown strongly in recent years. It will grow from $2.95 billion in 2023 to $3.1 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The gas and oil pipeline leak detector market size is expected to see strongly grown in the next few years. It will grow to $3.76 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%.
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Increasing Global Energy Demand Drives Oil And Gas Pipeline Leak Detector Market
The rise in global energy consumption is expected to propel the growth of the oil and gas pipeline leak detector market going forward. Energy consumption refers to the amount of energy used or consumed by individuals, organizations, or countries for various purposes. Oil and gas pipeline leak detectors detect leaks early and accurately and help prevent the loss of valuable oil and gas resources. Minimizing leaks ensures that the energy transported through the pipelines reaches its intended destination without losses. For instance, according to the Energy Information Administration (EIA), a US-based government agency, in 2022, the primary energy consumption in the United States was 100.4 quadrillion British thermal units (quads), which represented a 3% increase from the previous year. Fossil fuels accounted for 79% of the total consumption, with petroleum being the primary source of energy, followed by natural gas and coal. Therefore, the rise in global energy consumption is driving the growth of the oil and gas pipeline leak detector market.
Revolutionizing Pipeline Monitoring With Introduction Of Praetorian System With Fiber Optic Sensing Technology
Technological advancements are the key trend gaining popularity in the oil and gas pipeline leak detector market. Major companies operating in the oil and gas pipeline leak detector market are focused on developing innovative products to strengthen their position in the market. For instance, in November 2022, Hawk Measurement Systems, a US-based manufacturer that develops level measurement and flows in a pipeline, launched Praetorian System for continuous real-time monitoring of oil and gas pipeline infrastructure. Fiber Optic Sensing (FOS) technology is used in HAWK's Praetorian System, in which Fiber Optic Cable is put along the pipeline and detects changes in sound, stress, temperature, or vibration, allowing the system to cross-reference and delete spurious signals and uses temperature as well as vibration (multi-variable sensing) to positively identify the leak.
The gas and oil pipeline leak detector market covered in this report is segmented -
1) By Location: Onshore, Offshore
2) By Medium: Oil And Condensate, Natural Gas
3) By Technology: Acoustic Sensors, Flowmeters, Cable Sensors, Vapor Sensors, Other Technologies
4) By Application: Fiber Optic, Vapor Sensors, Pressure Sensors, Infra-Red Detection, Flowmeters
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Major companies operating in the gas and oil pipeline leak detector market report are Schneider Electric SE, Synodon Inc., Siemens AG, Teledyne FLIR LLC, Atmos International Ltd., ClampOn AS, TTK Leak Detection System, Honeywell International Inc., Pentair plc, PSI AG, Krohne Messtechnik GmbH, Pure Technologies Ltd., Perma-pipe Inc., Laser Diagnostic Instruments AS, Arjay Engineering, Asel-Tech Inc., Yokogawa International Inc., Areva S.A., ABB Ltd., Bridger Photonics Inc., Yokogawa Electric Corp., Tenaris Inc., Mott Macdonald Group Ltd., Nippon Steel Corporation, ChelPipe Group, British Petroleum plc, Qatar Jet Fuel Company, Bharat Petroleum Corp. Ltd., Gazprom Neft PJSC, Primoris Services Corporation .
Contents of the report:
1. Executive Summary
2. Gas And Oil Pipeline Leak Detector Market Report Structure
3. Gas And Oil Pipeline Leak Detector Market Trends And Strategies
4. Gas And Oil Pipeline Leak Detector Market - Macro Economic Scenario
5. Gas And Oil Pipeline Leak Detector Market Size And Growth
…..
27. Gas And Oil Pipeline Leak Detector Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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