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Pipeline Monitoring System Market (Type - Metallic, and Non-metallic; Technology - Ultrasonic, Pig, Smart Ball, Magnetic Flux Leakage, Fiber Optic Technology, and Others; End-user Industry - Crude & Refined Petroleum, Water & Wastewater, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

  • Published : September, 2021

  • Rep Id : EIM0291

  • Category : Energy, Mining and Infrastructure

  • Status : Published

A recent report published by Infinium Global Research on the pipeline monitoring system market provides an in-depth analysis of segments and sub-segments in the global as well as regional pipeline monitoring system market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional pipeline monitoring system market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of the global pipeline monitoring system market. According to the report, the global pipeline monitoring system market is projected to grow at a CAGR of 7.1% over the forecast period of 2020-2026.

 

Market Insight

The global pipeline monitoring system market was valued at USD 5475 million in 2020 and is projected to reach near USD 8270 million by 2026, growing at a CAGR of 7.1% from 2020 to 2026. The use of pipeline carrying petroleum products such as fossil fuels, gases, chemicals, and other essential hydrocarbon fluids is considered as a major that serve as assets to the economy of every nation. It is widely used for the transportation of hydrocarbon fluids over millions of miles worldwide. The structures of the pipelines are designed to resist several environmental loading conditions to ensure safe and reliable distribution from point of production to the distribution depot. However, instances of pipeline failure can result in severe ecological disasters, human casualties, and financial loss. In order to avoid such threats and maintain safe and reliable pipeline infrastructure, substantial research efforts have been devoted to implementing pipeline leak detection and localization using different approaches.

 

Increasing demand for oil & gas and a huge investment pool in the pipeline business are the major driving factors of the pipeline integrity market. Petrochemicals become an ever more important driver, with naphtha, liquefied petroleum gas (LPG), and ethane responsible for the high demand for oil & gas. This demand is steadily increasing from consumers in developing countries. Furthermore, factors such as government regulations for pipeline assessment and safety of pipelines and energy infrastructure are also driving the growth of the market. Rising investments in pipeline infrastructure and advancements in the field of integrity management are fueling the growth of the pipeline integrity market. The demand for pipeline development is increased due to aggressive exploration projects around the world uncover new hydrocarbon sources. However, the high cost of monitoring systems along with a lack of professionals are restraining market growth. Moreover, the Internet of Things (IoT) and a wireless sensor network for pipeline monitoring proving to be attractive in pipeline leak detection which is expected to provide growth opportunities to the market. The ongoing COVID-19 pandemic has hit each and every industry hard, but perhaps the global oil and gas industry is the one industry that has taken the biggest hit. The spread of this virus has forced many oil and gas companies to either stop or slow down their physical operations, which has impacted the pipeline monitoring system market. The oil and gas industry is still considered a strategic and essential sector for the economy of most countries. Some petroleum producers have therefore ceased operating during the pandemic not so much as a consequence of government intervention, as is the case in some other sectors.

 

Geographically, North America dominates the global pipeline monitoring system market due to the increasing shale gas & oil production and favorable regulations related to the licensing of Exploration & Production (E&P) activities. The United States has a highly integrated network of pipelines for transferring natural gas throughout the continent. The Asia Pacific is expected to present a noteworthy growth rate due to the augmented use of pipeline monitoring systems and heavy fuel consumption for petrochemical industries in emerging countries. Markets in developing countries such as China, India, Japan, Australia, and countries in the Middle East are projected to grow at a higher rate over the forecasted period. 


Segment Covered

The report on the global pipeline monitoring system market covers segments such as type, technology, and end-user industry. On the basis of type, the sub-markets include metallic and non-metallic. On the basis of technology, the sub-markets include ultrasonic, pig, smart ball, magnetic flux leakage, fiber optic technology, and others. On the basis of end-user industry, the sub-markets include crude & refined petroleum, water & wastewater, and others.



Pipeline Monitoring System Market


 

Companies Profiled: 

The report provides profiles of the companies in the market such as Honeywell International Inc., Schlumberger, Siemens, ORBCOMM, TransCanada PipeLines Limited, Elbit Systems Ltd., PT Testindo, Huawei Technologies Co., Ltd., Xylem Inc., and BAE Systems.

 

Report Highlights: 

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the pipeline monitoring system market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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