Press release
Pipeline Monitoring System Market Set to Reach $23.66 Billion by 2029 with 8% Yearly Growth
Pipeline Monitoring System Market
Boosting the pipeline infrastructure is projected to spur the upgrade of the pipeline monitoring system market in the future. This infrastructure spans a wide range, covering all privately, publicly, or collectively owned channels, installations, or mechanisms for conveying or dispersing gas, oil, and petroleum products, as well as related goods or substances that serve the public either directly or indirectly. Pipeline monitoring systems enhance the pipeline infrastructure by incorporating IoT sensors to advance monitoring solutions, signal pipelines, and assign technicians to marked areas. To illustrate, in October 2023, the Petroleum and Natural Gas Regulatory Board (PNGRB), a government body in India, revealed that the country's natural gas pipeline infrastructure underwent major expansion as of June 2023, with more than 33,000 km of pipeline network authorized throughout India. Of the total, over 23,000 km is already in operation, while around 12,000 km is still under construction. This expansion is a testament to India's endeavors to construct a formidable pipeline network to improve natural gas distribution and satisfy its burgeoning energy demands. Consequently, the progression of the pipeline infrastructure is driving the pipeline monitoring systems market.
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What is the projected compound annual growth rate (CAGR) of the pipeline monitoring system market from 2025 to 2034, and what factors influence it?
In recent years, there has been substantial growth in the pipeline monitoring system market size. This market is projected to expand from $16.06 billion in 2024 to $17.29 billion in 2025, with a compound annual growth rate (CAGR) of 7.7%. The significant growth during the historical period can be credited to factors such as pipeline expansion projects, incident prevention, aging infrastructure, risk management, operational optimization, and environmental awareness.
In the coming years, the market size of the pipeline monitoring system is predicted to witness robust growth, reaching $23.66 billion by 2029 with a compound annual growth rate (CAGR) of 8.2%. This predicted growth during the forecast period is linked to factors such as big data analytics, IoT integration, climate change adaptation, a focus on cybersecurity, and the global energy transition. The forecast period is also expected to see trends such as advanced analytics and AI, remote monitoring and control, cybersecurity precautions, the integration of drones and UAVs, predictive maintenance, and environmental monitoring.
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How are the latest trends influencing the growth of the pipeline monitoring system market?
The emergence of technological advancements is a principal trend gaining traction in the market for pipeline monitoring systems. Major players in this market are concentrating their efforts on developing innovative technologies to maintain their market standing. For instance, Eni, an energy company based in Italy, in October 2023, unveiled a project targeting the enhancement of pipeline monitoring technology. This project is centered on crafting groundbreaking solutions to improve the safety, effectiveness, and dependability of pipeline networks. It utilizes top-of-the-line technology for real-time pipeline monitoring, identification of potential problems such as leaks, and ensuring supreme functioning. This noteworthy development marks a substantial stride towards bettering pipeline security and environmental safety, further underlining Eni's dedication to technological innovation within the energy domain.
What are the major segments of the pipeline monitoring system market and their role in driving growth?
The pipeline monitoring system market covered in this report is segmented -
1) By Type: Metallic, Non-Metallic, Concrete Pipes, Asbestos Cement Pipes
2) By Technology: Ultrasonic, PIG (Pipeline Inspection Gauge), Small Ball, Magnetic Flux Leakage, Fiber Optic, Other Technologies
3) By Application: Operating Efficiency, Leak Detection, Pipeline Break Detection
4) By End-User: Oil And Gas, Water And Wastewater, Other End-Users
Subsegments:
1) By Metallic: Steel Pipes, Copper Pipes, Aluminum Pipes, Cast Iron Pipes
2) By Non-Metallic: Polyethylene (PE) Pipes, Polyvinyl Chloride (PVC) Pipes, Polypropylene (PP) Pipes, Glass Reinforced Plastic (GRP) Pipes
3) By Concrete Pipes: Reinforced Concrete Pipes (RCP), Plain Concrete Pipes, Pre-stressed Concrete Pipes
4) By Asbestos Cement Pipes: Asbestos Cement Water Pipes, Asbestos Cement Sewer Pipes
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Which regions are key players in the growth of the pipeline monitoring system market?
North America was the largest region in the pipeline monitoring system market in 2024. Asia-Pacific is expected to be the fastest-growing region in the pipeline monitoring system market report during the forecast period. The regions covered in the pipeline monitoring system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the key firms paving the way for growth in the pipeline monitoring system market?
Major companies operating in the pipeline monitoring system market include ABB Ltd., Emerson Electric Company, Honeywell International Inc., Huawei Investment & Holding Co. Ltd., ORBCOMM Inc., Siemens AG, Schneider Electric SE, QinetiQ Group plc, Rockwell Automation Inc., TransCanada PipeLines Limited, PSI Group Inc., Pure Technologies Ltd., BAE Systems Inc., Pentair plc, Badger Meter Inc., Bentek Systems Ltd., General Electric Company, Perma-Pipe International Holdings Inc., AVEVA Group plc, Yokogawa Electric Corporation, OptaSense Ltd., International Business Machines Corporation, HollySys Automation Technology Co. Ltd., Inductive Automation Software LLC, Atmos International plc, Syrinix Ltd., Hifi Engineering (China) Co. Ltd., KROHNE Messtechnik GmbH, Sensornet Ltd., TTK Corporation
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What Is Covered In The Pipeline Monitoring System Global Market Report?
• Market Size Forecast: Examine the pipeline monitoring system market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the pipeline monitoring system market for a structured understanding.
• Key Players Overview: Analyze major players in the pipeline monitoring system market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the pipeline monitoring system market.
• Segment Contributions: Evaluate how different segments drive overall growth in the pipeline monitoring system market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the pipeline monitoring system market.
• Industry Challenges: Identify potential risks and obstacles affecting the pipeline monitoring system market.
• Competitive Landscape: Review strategic developments in the pipeline monitoring system market, including expansions, agreements, and new product launches.
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