Newark, Sept. 10, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 17.76 billion in 2023 global pipeline monitoring system market will reach USD 36.26 billion in 2033. Pipeline monitoring systems are essential tools used to oversee and analyze the condition of pipelines, focusing on aspects such as microbiological control and corrosion properties. These systems are designed to detect leaks, assess operational conditions, maintain pipeline integrity, and identify breaks, thereby reducing the risk of accidents like explosions and fires. They help enhance efficiency, extend asset longevity, and improve safety and reliability. Pipeline monitoring systems are available in various configurations, including both metallic and non-metallic models.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| Market Size in 2023 | $ 17.76 Billion |
| Market Size in 2033 | $ 36.26 Billion |
| CAGR | 7.4% |
| No. of Pages in Report | 150 |
| Segments Covered | Pipe Type, Technology, End-User, Regions |
| Drivers | Resource Sustainability |
| Opportunity | Increased demand for surveillance as pipeline infrastructure expands |
| Restraints | Operators have no reservations about implementing the surveillance system |
Key Insight of the Global Pipeline monitoring system Market
North America will dominate the market during the forecast period.
Historically, North America has been a leading market for pipeline monitoring systems, known for its innovative products and advanced applications. The growing oil and gas exploration and production activities in North American countries such as the United States, Canada, and Mexico are driving the demand for pipeline monitoring systems. Efforts by oil and gas companies, government agencies, and environmental organizations in this region focus on preventing spills and other environmental hazards, further boosting the market for pipeline monitoring solutions.
In 2023, metallic pipes dominated the market with the largest market share of 28.44%.
The pipe type segment is divided into metallic, concrete pipes, asbestos cement pipes, and non-metallic. In 2023, metallic pipes dominated the market with the largest market share of 28.44%.
In 2023, the ultrasonic technique accounted for the largest share of the market, with 25.66%.
The technology segment comprises PIGs, ultrasonic, smart ball, fiber optic technology, and magnetic flux leakage. In 2023, the ultrasonic technique accounted for the largest share of the market, with 25.66%.
The oil & gas segment accounted for the largest share of the market, with 37.82% for pipeline monitoring systems in 2023.
The end-user segment is divided into water & wastewater, oil & gas, and others. The oil & gas segment accounted for the largest share of the market, with 37.82% for pipeline monitoring systems in 2023.
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Market Dynamics
Driver: Resource Sustainability.
The construction of pipeline infrastructure requires substantial initial investment. With the global demand for energy rising and oil and gas reserves depleting, companies are compelled to implement highly efficient production technologies to reduce operational costs. Increased investment in monitoring systems is driven by the need to manage and secure these assets effectively. In response to heightened cyber threats targeting oil and gas facilities, companies are investing more in network and application monitoring to safeguard their infrastructure from potential attacks and ensure efficient operation.
Restraints: Reluctance to Adopt Surveillance Systems.
Many pipeline operators have been hesitant to adopt cybersecurity and monitoring technologies due to a lack of awareness and understanding. The network security solutions provided by IT companies often lack integration and are offered in isolation, making it difficult for operators to select comprehensive monitoring solutions. The challenge is further compounded by insufficient education on the importance of both physical and cyber monitoring systems, which hinders the adoption of these technologies in the pipeline sector.
Opportunities: Growing Demand for Surveillance.
As pipeline infrastructure expands to meet the rising demand for oil and gas, there is an increased need for effective monitoring systems. Extensive pipeline networks require advanced surveillance technology to detect leaks and prevent sabotage or terrorist attacks. The growth of pipeline infrastructure will drive demand for sophisticated monitoring solutions, creating profitable opportunities for vendors in the market.
Challenges: Funding and Aging Infrastructure.
Aging pipeline infrastructure, including pipes, valves, and hydrants, poses a significant challenge. Many sectors, such as water, gas, and oil, face issues related to outdated technology and lack of funding for R&D. The high upfront costs of modern monitoring systems deter small and medium-sized utilities from investing. The slow pace of infrastructure replacement further complicates the adoption of new technologies. Addressing these challenges may require better integration with advanced infrastructure and increased stakeholder involvement to create more effective pipeline management strategies.
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Some of the major players operating in the global pipeline monitoring system market are:
• Siemens AG
• Huawei Technologies Co. Ltd.
• Honeywell International Inc
• TransCanada PipeLines Limited
• BAE Systems
Key Segments covered in the market:
By Pipe Type
• Metallic
• Concrete pipes
• Asbestos cement pipes
• Non-metallic
By Technology
• PIGs
• Ultrasonic
• Smart Ball
• Fiber Optic Technology
• Magnetic Flux Leakage
By End-User
• Water & Wastewater
• Oil & Gas
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
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