New York, United States, Nov. 07, 2023 (GLOBE NEWSWIRE) -- The Global Pipeline Monitoring System Market Size is expected to reach USD 30.8 Billion by 2032, at a CAGR of 7.5% during the forecast period 2022 to 2032.
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The pipeline monitoring system is an advanced framework of hardware and software systems for monitoring, managing, and analyzing pipelines in a range of industries, including oil and gas, water distribution, and other fluid transportation networks. The primary goal of this type of system is to ensure the safety, integrity, and performance of the pipeline infrastructure. Pipeline monitoring systems are essential for ensuring pipeline safety and effectiveness, reducing downtime, preventing environmental harm, and cutting the cost of repairs and maintenance. Many reasons have contributed to the considerable growth of the global pipeline monitoring system market, including rising demand for crude oil and natural gas, increased concerns about pipeline safety and transparency, regulatory restraints, and technological advancements in pipeline monitoring. Furthermore, new pipeline facilities make extensive use of communication and information technology breakthroughs such as Supervisory Control and Data Acquisition, Intelligent Video Surveillance, Human Machine Interface, and Programmable Logic Controller. These advancements are assisting in the development of an interactive pipeline infrastructure that allows oil and gas businesses to remotely oversee and run their commercial operations.
Browse key industry insights spread across 200 pages with 120 market data tables and figures & charts from the report on "Global Pipeline Monitoring System Market Size, Share, and COVID-19 Impact Analysis, By Pipe Type (Metallic, Non-Metallic, Others), By Technology (Acoustic/Ultrasonic, PIGs, Smart Ball, LIDAR, Vapor Sensing, Mass Volume/Balance, Magnetic Flux Leakage, Fiber Optic Technology, Others), By Application (Leak Detection, Operating Condition, Pipeline Break Detection, Others), By End-Users (Oil Industry, Natural Gas, Biofuel, Petrochemical Industries, Water & Wastewater Treatment, Chemical Industries, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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The metallic segment is dominating the market with the largest revenue share over the forecast period.
On the basis of pipe type, the global pipeline monitoring system market is segmented into the metallic, non-metallic, and others. Among these, the metallic segment is dominating the market with the largest revenue share of 78.6% over the forecast period. Metallic pipes are widely utilized in oil and gas, petrochemical, refinery, and power plants for both production and delivery. Because iron-based pipes corrode when exposed to highly oxygenated water steam, end-user sectors prefer steel-based pipes. These pipes are becoming more popular since they are affordable and require little maintenance.
The acoustic/ultrasonic segment is witnessing significant CAGR growth over the forecast period.
On the basis of technology, the global pipeline monitoring system market is segmented into acoustic/ultrasonic, PIGs, smart ball, LIDAR, vapor sensing, mass volume/balance, magnetic flux leakage, fiber optic technology, and others. Among these, the acoustic/ultrasonic segment is witnessing significant CAGR growth over the forecast period. Acoustic and ultrasonic monitoring systems use sound waves to detect leaks, fractures, and other pipeline safety issues.
The leak detection segment is expected to hold the largest share of the global pipeline monitoring system market during the forecast period.
Based on the Application, the global pipeline monitoring system market is divided into leak detection, operating condition, pipeline break detection, and others. Among these, the leak detection segment is expected to hold the largest share of the global pipeline monitoring system market during the forecast period. This section focuses on pipeline leak detecting technology and systems. Using leak detection solutions, pipeline operators can improve the efficiency of their leak detection systems.
The oil industry segment accounted for the largest revenue share of more than 57.2% over the forecast period.
On the basis of End-Users, the global pipeline monitoring system market is segmented into the oil industry, natural gas, biofuel, petrochemical industries, water & wastewater treatment, chemical industries, and others. Among these, the oil industry segment is dominating the market with the largest revenue share of 57.2% over the forecast period. The oil industry market includes crude oil, biogas fuels, petroleum, and refineries. Manufacturers are implementing pipeline monitoring systems to ensure safety and avert disasters because pipelines are the backbone of transportation in the oil business.
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North America dominates the market with the largest market share over the forecast period.
North America is dominating the market with more than 48.7% market share over the forecast period. The North American region, which comprises the United States and Canada, accounts for the majority of the global pipeline monitoring system market. The growing emphasis on fixing aging pipeline systems and reducing leaks, spills, and accidents has resulted in a greater use of monitoring devices. On the contrary, Asia Pacific is predicted to grow the fastest during the forecast period. The Asia Pacific area is witnessing rapid growth in the oil and gas sector, thanks to its developing economies such as China and India. Furthermore, government initiatives aimed at increasing pipeline safety and limiting environmental impacts help the market grow. During the forecast period, the Europe market is expected to rise at a rapid CAGR.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the Market. Major vendors in the Global Pipeline Monitoring System Market include Schneider Electric SE, Siemens AG, Honeywell International Inc., Huawei Technologies Co. Ltd., BAE Systems, TransCanada Pipe Lines Limited, ABB Ltd., Emerson Electric Co., Generic Electric Co., ORBCOMM Inc., QinetiQ Group Plc, Rockwell Automation Inc., PSI AG, Pentair PLC, Sentar Inc., Pure Technology, Orbcomm Inc., and several others.
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Recent Developments
- On August 2022, Israel Natural Gas Lines has announced a strategic investment in Prisma Photonics, which is developing an innovative solution for real-time monitoring of vital infrastructure. The investment deal comes one year after the firms agreed to implement Prisma Photonics' PrismaFlowTM system for continuous monitoring on gas pipeline segments in Israel.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Pipeline Monitoring System Market based on the below-mentioned segments:
Pipeline Monitoring System Market, Pipe Type Analysis
- Metallic
- Non-Metallic
- Others
Pipeline Monitoring System Market, Technology Analysis
- Acoustic/Ultrasonic
- PIGs
- Smart Ball
- LIDAR
- Vapor Sensing
- Mass Volume/Balance
- Magnetic Flux Leakage
- Fiber Optic Technology
- Others
Pipeline Monitoring System Market, Application Analysis
- Leak Detection
- Operating Condition
- Pipeline Break Detection
- Others
Pipeline Monitoring System Market, End-Users Analysis
- Oil Industry
- Natural Gas
- Biofuel
- Petrochemical Industries
- Water & Wastewater Treatment
- Chemical Industries
- Others
Pipeline Monitoring System Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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