Farmington, Jan. 27, 2023 (GLOBE NEWSWIRE) -- The Global Pipeline Monitoring System Market Size Is Projected To Reach Approximately USD 13,749.90 Million By 2030, at a CAGR Of 7.80% From 2023 To 2030. The pipeline monitoring system market is growing because more pipelines are being built to move and distribute oil and gas around the world. Corrosion is causing more and more pipelines to leak, which makes it more important to have monitoring systems for pipelines. Oil and gas companies are putting in place monitoring systems quickly to cut down on waste, lessen their impact on the environment, and make sure everyone is safe.
Request Sample Copy of Report “Pipeline Monitoring System Market - Global Industry Analysis, Size, Share, Growth Opportunities, Future Trends, Covid-19 Impact, SWOT Analysis, Competition and Forecasts 2022 to 2030”, published by Contrive Datum Insights.
Recent Developments:
- In May 2021, Huawei and SINO-PIPELINE International entered into a strategic cooperation agreement in Shenzhen. SINO-PIPELINE International is expected to offer sophisticated business capabilities and resources, while Huawei is expected to provide leading ICT technology and professional personnel. The ultimate objective of the agreement is to establish a long-term strategic relationship. Together, the businesses are expected to utilize digital transformation to foster collaboration on projects such as intelligent pipeline networks, assisting SINO-PIPELINE International in its goal of becoming a world-class global corporation by 2030.
- In March 2021, TC Energy Corporation (TC Energy) and TC PipeLines, LP (TCP) completed the merger pursuant to an agreement and plan of merger dated December 14, 2020. As a result of this merger, TC Energy is expected to acquire all of the outstanding publicly held common units of TCP and become an indirect, wholly-owned subsidiary of TC Energy.
Segment Analysis:
Technology Insights
In 2021, the acoustic/ultrasonic segment made the most money, 24.6%. Over the next five years, it is expected to grow at a CAGR of over 6%. Acoustic and ultrasonic monitoring technology can use high-frequency sound waves and noise patterns to find where a leak or flaw is in a wide range of pipelines. It uses acoustic emission sensors that usually work by noticing changes in the way background noise is spread out. An acoustic leak detector can tell the difference between the sound of a leak and the sound of water flowing normally. The market will grow next year because of this. But acoustic monitoring technology can't find small leaks that don't add to or make the background noise louder.
Pipe Type Insights
In 2021, 77.6% of the market was made up of metal pipeline monitoring systems. During the period covered by the forecast, they are expected to grow at the fastest CAGR, which is over 8%. Metal pipes are used a lot to make things and move them in oil and gas, petrochemical, refinery, and power plants.
Application Insights
In 2021, 44.1% of the market's revenue came from leak detection, and it is expected to grow at a CAGR of over 7% over the next five years. With the help of leak detection solutions, people who run pipelines can make their leak detection programmes work better. The leak detection systems automatically tell the operators if a pipeline breaks, so they can act right away to stop the spill and limit how much and how long it lasts.
Industry Vertical Insights
In 2021, 68.6% of the market's total revenue came from the oil and gas segment. During the time frame of the forecast, it is expected to grow at a CAGR of more than 8%. The oil and gas segment includes crude oil, natural gas, biogas fuels, petroleum, and refineries. In the oil and gas business, the main way to move things is through a pipeline. Pipeline monitoring systems are being put in place so that it is safe and accidents don't happen. Also, using detection systems makes less of an impact on the environment, cuts down on waste, and gives real-time analysis that makes it easy to find mistakes and fix them quickly.
Regional Outlook:
According to the Report, North America had a big part of the market in 2021. Since a long time ago, North America has been one of the most important places to sell pipeline monitoring systems. This is because oil and gas exploration and production are growing, which means that pipeline monitoring technologies are becoming more important. Oil and gas companies, government agencies, and environmental groups are working to stop oil spills, gas leaks, and other accidents because there are more pipelines in the US, Canada, and Mexico.
Europe was the place with the most growth in 2021.
Buy this Premium Research Report@
https://www.contrivedatuminsights.com/buy/248457/?Mode=PM
Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 7.80% from 2023 to 2030. |
| Revenue Forecast by 2030 | USD 13,749.90 Million |
| By Technology | PIGs, Smart Ball, Acoustic/Ultrasonic, Magnetic Flux Leakage Technology, Fiber Optic Technology, Mass Volume/Balance, LIDAR, Vapor Sensing, Others |
| By Pipe Type | Metallic, Non-metallic, Others |
| By Application | Leak Detection, Operating Condition, Pipeline Break Detection, Others |
| By Industry Vertical | Oil & Gas, Water & Wastewater, Others |
| By Companies | ABB Ltd., Emerson Electric Co., Generic Electric Co., Honeywell International Inc., Huawei Investment and Holding Co. Ltd., ORBCOMM Inc., QinetiQ Group Plc, Rockwell Automation Inc., Schneider Electric SE, Siemens AG |
| Regions and Countries Covered |
|
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Market Drivers:
Pipelines have grown a lot because oil and gas use has gone up in most big countries. To move oil and gas products, pipelines are built in many different places and over many hundreds of kilometres. Since there are so many pipelines, it takes more tools to keep track of how they are doing. Companies use high-tech sensors and monitoring tools to find leaks in pipe systems. Scada pipeline monitoring companies are putting in place physical security measures like monitoring from the air and the ground and video surveillance to protect pipelines from terrorist attacks and sabotage.
Market Opportunities:
Pipeline Monitoring System market growth will be boosted even more by new technology-based solutions. Several leaders have come up with cutting-edge technological solutions to make it easier for O&G giants to find lead. For example, Hifi HDS just released a brand-new app for managing pipeline pigs. The business does more than just find pipeline leaks before they happen. It also has other commercial applications that add value.
Key Segments Covered:
Top Market Players:
ABB Ltd., Emerson Electric Co., Generic Electric Co., Honeywell International Inc., Huawei Investment and Holding Co. Ltd., ORBCOMM Inc., QinetiQ Group Plc, Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and others.
By Technology
- PIGs
- Smart Ball
- Acoustic/Ultrasonic
- Magnetic Flux Leakage Technology
- Fiber Optic Technology
- Mass Volume/Balance
- LIDAR
- Vapor Sensing
- Other
By Pipe Type
- Metallic
- Non-metallic
- Others
By Application
- Leak Detection
- Operating Condition
- Pipeline Break Detection
- Others
By Industry Vertical
- Oil & Gas
- Water & Wastewater
- Others
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
Check out more related studies published by Contrive Datum Insights:
- Pipe Wrenches Market - The Global Pipe Wrench Market Is Projected To Grow From USD 1.02 Billion In 2017 To USD 1.36 Billion In 2030, At A CAGR Of 3.3% From 2017 To 2030. The Asia Pacific region dominated the global market in terms of revenue, with a share of over 40.0% in 2019.
- Pipeline Maintenance Services Market - The global Pipeline Maintenance Services market size is expected to reach close to $34.8 Billion by 2030 with an annualized growth rate of 7.9% through the projected period. United States has been leading the market for several years.
- Oil Pipeline Transportation Market - The global Oil Pipeline Transportation market was valued at from USD 65 Million in 2022, and is projected to grow at a CAGR of 7.5% during the forecast period. Asia Pacific is expected to witness the highest growth during the forecast period.
Customization of the Report: The report can be customized as per client needs or requirements.For any queries, you can contact us on anna@contrivedatuminsights.com or +1 215-297-4078. Our sales executives will be happy to understand your needs and provide you with the most suitable reports.
About Us:
Contrive Datum Insights (CDI) is a global delivery partner of market intelligence and consulting services to officials at various sectors such as investment, information technology, telecommunication, consumer technology, and manufacturing markets. CDI assists investment communities, business executives, and IT professionals to undertake statistics-based accurate decisions on technology purchases and advance strong growth tactics to sustain market competitiveness. Comprising of a team size of more than 100 analysts and cumulative market experience of more than 200 years, Contrive Datum Insights guarantees the delivery of industry knowledge combined with global and country-level expertise.
Social: Facebook / LinkedIn / Twitter
Contact Us:
Anna B. | Head Of Sales
Contrive Datum Insights
Phone: +91 9834816757 | +1 2152974078
Email: anna@contrivedatuminsights.com
Website:
https://www.contrivedatuminsights.com
Contrive Datum Insights Press Releases
Latest Contrive Datum Insights Latest Reports
