New York, May 10, 2023 (GLOBE NEWSWIRE) -- In 2022, the Global Pipeline Monitoring System Market was valued at USD 15.1 Billion and is expected to reach USD 31.1 Billion in 2032. This market is estimated to register the highest CAGR of 7.7% between 2023 and 2032. Pipeline monitoring and safety has become an important part of the sectors like energy, petroleum, oil and gas, and many such sectors.
This high importance of the pipeline monitoring system among these sectors is due to the benefits of these pipeline monitoring systems to prevent pipeline leakage and breaking of pipelines. The breaking of a pipeline or leakage in the pipe can cause severe effects like a negative impact on the environment. If the pipeline carrying liquid or gas is flammable, then its leakage can also catch fire. To avoid such incidents from happening, the pipeline monitoring system has huge importance among industries.
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Key Takeaway:
- By Technology, ultrasonic leads the segment by covering the major revenue share of 23.8%.
- By Pipe Type, metallic pipes dominate over non-metallic pipes by covering a major revenue share of 74.4%.
- By Application, the leakage detection segment leads with a 42.6% share.
- By End-use Industry, 66.8% revenue share is covered by the oil and gas industry.
- North America held a revenue share of approximately 32.8% in 2022
- Asia Pacific market is anticipated to grow at a CAGR of 7.6%
Sometimes the liquid or gas carried in the pipeline is very reactive, and it can develop high pressure on the pipes. This can result in unwanted incidents like pipe leakage and pipe breakage. These incidents directly affect the prices of oil and gas across the world. Pipe leakage or pipe breakage can result in the loss of huge amounts of oil and gas. This results in high prices of oil and gas in the global market. Due to this, many companies are adopting the pipeline monitoring system to avoid such incidents.
Factors affecting the growth of the Pipeline Monitoring System Market?
Several factors can affect the growth of the pipeline monitoring system market. Some of these factors include:
- Increasing Pipeline Network: The demand for oil and gases has risen significantly in the past few years. Therefore, to transport and distribute the oil and gases across the regions and countries, many governments and companies are establishing the pipeline network to supply the oil and gases. This has increased the demand for the pipeline monitoring system in the market.
- Rising Oil and Gases Theft: Terrorists and thieves are stealing the oil and gases from the pipeline networks which supply the oil and gas between the countries. This is expected to he;p the market grow.
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Top Trends in Global Pipeline Monitoring System Market
The ongoing trend of integrating advanced technologies like human-machine interface, distributed vibration sensing, distributed vibration sensing, and programmable logic controllers in pipeline monitoring has positively affected the market growth of pipeline monitoring systems. As a result, many companies are providing advanced features in the pipeline monitoring system that can efficiently function and provide accurate monitoring data to the user. This is promoting more companies to adopt the pipeline monitoring system in their companies to avoid unwanted incidents and monitor the flow within the pipeline system.
Market Growth
The oil and gas demand has risen significantly in the past few years. Therefore, to transport and distribute the oil and gases across the regions and countries, many governments and companies are establishing the pipeline network to supply the oil and gases. This has increased the demand for the pipeline monitoring system in the market. Moreover, oil theft from the pipeline networks supplies the oil and gas between the countries. Due to this, companies in the oil and gas industry are experiencing huge losses. Therefore, the companies are adopting the pipeline monitoring system to monitor the activities in the pipeline system.
Regional Analysis
North America leads the global pipeline monitoring system market by covering a major revenue share of 32.8%. The growth of North America is attributed to the availability of advanced infrastructure within the region. With the increasing pipeline network across the region, oil leaks, gas leaks, and pipeline breakage incidents have also risen. Therefore, to prevent these incidents, the companies are adopting the pipeline monitoring system in their companies. However, the Asia Pacific region is expected to grow at a CAGR of 7.6%. The presence of many companies offering the pipeline monitoring system is driving the growth of the Asia Pacific region.
Competitive Landscape
The competitive landscape of the market has also been examined in this report. The pipeline monitoring system market is fragmented into many companies. Key players in the market are investing in research and development for the integration of advanced technologies in the pipeline monitoring system. The companies are adopting various strategies like collaboration, partnership, acquisition, and mergers to expand their market share across regions and strengthen their position in the market. Some of the major players include ABB Ltd., Honeywell International Inc., Emerson Electric Co., Huawei Investment and Holding Co. Ltd., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Generic Electric Co., ORBCOMM Inc., QinetiQ Group Plc, Xylem Inc., and other key players.
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Scope of the Report
| Report Attribute | Details |
| Market Value (2022) | USD 15.1 billion |
| Market Size (2032) | USD 31.1 billion |
| CAGR (from 2023 to 2032) | 7.7% |
| North America Revenue Share | 32.8% |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
Market Drivers
Increasing Pipeline networks across the world are increasing the demand for the pipeline monitoring system. With rising energy demand across the world, the oil and gas reserves have been depleting drastically in the last few years. The companies are adopting the pipeline monitoring system in their operations to meet this high market demand. It helps companies monitor oil and gas transportation efficiently and keep track of it. This is driving the growth of the pipeline monitoring system market. Moreover, the increasing incidents like oil stealing, leakage, and pipe bursting are forcing companies to adopt the pipeline monitoring system. These key factors are driving the growth of the pipeline monitoring system.
Market Restraints
The lack of funding for the pipeline monitoring system from the oil and gas industry is hindering the growth of the pipeline monitoring system market. The federal authorities' unwillingness to develop an advanced pipeline monitoring system is also obstructing the companies from adopting advanced technologies like pipeline monitoring systems in their companies. Also, pipeline monitoring systems require skilled and trained employees for their operations. But a lack of proper understanding and exposure to the pipeline monitoring system is restricting the companies from adopting the pipeline monitoring systems. This is restraining the growth of pipeline monitoring systems in the market.
Market Opportunities
The increasing pipeline network infrastructure is anticipated to create many lucrative opportunities in the market for companies to develop efficient pipeline monitoring systems. The pipeline infrastructure has increased significantly in the last few years. The rising energy demand across the world has forced companies to develop the oil and gas transporting pipeline network across the world. The companies have installed thousands of miles of pipeline network to distribute and transport oil and gas between the countries.
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Report Segmentation of the Pipeline Monitoring System Market
Technology Insight
The ultrasonic dominates the global pipeline monitoring system market by covering a major revenue share of 23.8%. The ability of ultrasonic monitoring technology to detect the location of the leak in the pipeline or the flaw in the pipeline with the help of noise patterns and high-frequency sound waves is driving the growth of the ultrasonic pipeline monitoring system in the technology segment of the pipeline monitoring system market. Moreover, the LiDAR is anticipated to grow at a high CAGR of 8.6% over the forecast period. LiDAR is an optical technology that uses pulsed lasers from the transmitter. The system receiver receives the reflected light and develops the distance map. It helps the pipeline monitoring system by avoiding incidents of leakage, corrosion, and contamination in the pipeline. This is fueling the growth of LiDAR in the technology segment of the pipeline monitoring system.
Pipe Type Insight
Based on pipe type, the metallic leads the pipe type segment of the pipeline monitoring system market by accounting for the major revenue share of 74.4%. The wide use of these pipes in the oil and gas, power plants, and many such industries for transportation and distribution are driving the growth of the metallic pipes in the pipe type segment of the pipeline monitoring system market. The use of metallic pipes like carbon steel, alloy, stainless, and duplex steel pipes offers high strength, great corrosion resistance, and weldability. The metallic pipes can be used underground as well as underwater due to their capability of handling high pressure.
Application Insight
Leak detection is a mostly used application of the pipeline monitoring system. The system detects the location of the pipe leak and alerts the operator of the pipe leak to avoid the spillage of oil and gases. This is driving the growth of leak detection in the application segment of the global pipeline monitoring system market.
End-Use Industry Insight
Oil and gas dominate the end-use industry segment, with the account's highest share of 66.8%, due to the increased adoption of the pipeline monitoring system in the oil and gas industry for monitoring the transportation and distribution of oil and gases. The increasing losses to the oil and gas industry companies due to leakage, pipeline breaking, and the oil-stealing by terrorists, has forced the companies to adopt the pipeline monitoring system market.
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Market Segmentation
Based on Technology
- Ultrasonic
- LIDAR
- Smart Ball
- PIG
- Magnetic Flux Leakage Technology
- Other Technologies
Based on Pipe Type
- Metallic
- Non-Metallic
Based on Application
- Operating Condition
- Pipe Leakage Detection
- Leak Detection
- Other Applications
Based on End-Use Industry
- Water and Wastewater
- Oil and Gas
- Other End-Use Industries
Based on Geography
- North America
- The US
- Canada
- Mexico
- Western Europe
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Market Key Players:
- ABB Ltd.
- Honeywell International Inc.
- Emerson Electric Co.
- Huawei Investment and Holding Co. Ltd.
- Rockwell Automation Inc.
- Schneider Electric SE
- Siemens AG
- Generic Electric Co.
- ORBCOMM Inc.
- QinetiQ Group Plc
- Xylem Inc.
- Other Key Players
Recent Development of the Pipeline Monitoring System Market
- In November 2021, ProFlex Technologies and Siemens AG partnered. In this partnership, ProFlex Technologies is providing the digital Pipe-Safe leading leak detection technology to Siemens AG, which provides help to the employees monitoring the gas, oil, and petrochemicals and preventing the leaks.
- In June 2021, EuRoPol GAZ S.A. collaborated with ABB to strengthen the reliability and upgrade the security levels for all five gas compressor stations of the EuRoPol GAZ S.A. located in the Polish region of the gas pipeline.
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