Dallas, Texas, Oct. 28, 2022 (GLOBE NEWSWIRE) -- Pipeline safety is the activity of making sure that pipes are operated safely and without endangering the environment or people. Oil, natural gas, and water are just a few of the items that can be transported through pipes. Pipelines can also be used to carry dangerous substances like radioactive materials and chemical substances. Considering pipelines can be hazardous if they are not used properly, pipeline safety is a crucial problem. The pipeline safety market provides a range of services, including consulting, risk analysis and assessment, education and awareness campaigns, and installation and maintenance services. The market also provides other services including system integration, project management, and support.
In order to transfer gas and oil safely and successfully around the world, the pipeline safety market is required. This is because the most reliable and effective method of transporting these goods is through pipelines, and any outages might result in serious issues. As pipelines that are not properly maintained can result in oil spills and other environmental catastrophes, environmental concerns are also contributing to the expansion of this sector.
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Leading players of pipeline safety market including:
ABB Ltd
Honeywell International Inc.
Schneider Electric
Senstar Corporation
Thales Group
Huawei Technologies Co.
BAE Systems
Siemens AG.
The market for pipeline safety is predicted to increase to US$ 17.22 billion by 2029, with a CAGR of 9.20% throughout that time. One of the key reasons promoting the expansion of this market is the rising demand for safe and secure pipelines for the global transit of oil and gas. Other important aspects projected to drive the growth of this market in the coming years include expanding investments in pipeline infrastructure and growing environmental pollution concerns.
The pipeline safety industry has several market participants. By offering cutting-edge services and solutions that can enhance pipeline safety, these businesses are anticipated to significantly contribute to the expansion of this market. In order to create new technology that can further increase the safety of pipelines, these businesses are also anticipated to make significant investments in research and development.
The solutions market is anticipated to expand at a quicker rate over the course of the forecast period as a result of both market participants' increased adoption of these solutions and the expanding demand for practical, cost-effective solutions that may help increase pipeline safety. Due to the region's rising need for oil and gas transportation, the onshore segment is anticipated to expand more quickly during the projected period. Due to the growing number of offshore projects that Market participants are pursuing, the offshore segment is also anticipated to develop at a significant rate.
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In light of the increasing demand for this product around the world as well as the growing worries about environmental pollution, the natural gas segment among end users is anticipated to expand at a quicker rate during the forecast period. As per region, North America is anticipated to have the largest market for pipeline safety throughout the forecast period. This is brought on by both an increase in pipeline infrastructure investment and the rising demand for gas and oil in this region.
The new ecoStruxure for Pipelines solution was introduced in 2019, according to Schneider Electric SE. With the aid of this system, oil and gas firms will be able to manage their pipelines more safely and effectively.
Table of Contents:
1. Introduction
2. Research Methodology
3. Market Outlook
4. Pipeline safety Market by Component, 2019-2029 (USD Billion)
4.1. Solutions
4.2. Services
5. Pipeline safety Market by Application, 2019-2029 (USD Billion)
5.1. Onshore
5.2. Offshore
6. Pipeline safety Market by Vertical, 2019-2029 (USD Billion)
6.1. Natural Gas
6.2. Crude Oil
6.3. Refined Products
6.4. Other Verticals
7. Pipeline safety Market by Region 2019-2029 (USD Billion)
7.1. North America
7.1.1. US
7.1.2. Canada
7.2. Europe
7.2.1. UK
7.2.2. Germany
7.2.3. France
7.2.4. Rest of Europe
7.3. Asia Pacific
7.3.1. China
7.3.2. Japan
7.3.3. India
7.3.4. Rest of Asia Pacific
7.4. South America
7.4.1. Brazil
7.4.2. Mexico
7.4.3. Rest of South America
7.5. Middle East & Africa
8. Competitive Landscape
9. Company Profiles
10. Appendix
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