Stratview Research publishes a new report titled Pipeline Monitoring System Market which is segmented by Pipe Type (Metallic Pipes, Non-Metallic Pipes, and Others), by Technology Type (Ultrasonic, PIG, Smart Ball, Magnetic Flux Leakage, Fiber Optic Technology, and Others), by Solution Type (Leak Detection, Operating Condition, Pipeline Break Detection, and Others), by End-Use Industry Type (Crude & Refined Petroleum, Water & Wastewater, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
The pipeline monitoring system market was estimated at USD 13.53 billion in 2021 and is likely to grow at a CAGR of 7.65% during 2022-2028 to reach USD 22.74 billion in 2028.
The prime factor that is contributing to the demand for pipeline monitoring systems is the increasing number of oil & gas leakages during the production process.
What is a pipeline monitoring system?
Pipeline monitoring systems are used to evaluate corrosion and bacteriological control programs in pipelines. The system is used to collect data for pipeline risk evaluation and integrity monitoring in order to satisfy regulatory monitoring requirements.
Global Pipeline Monitoring System Market Report Segments:
Based on the pipe type, the market is segmented as metallic, non-metallic, and others. The metallic segment held the largest share of the market in 2021 and is expected to remain dominant during the forecast period. The significant share of the metallic segment is attributed to metals being the major materials for the construction of pipes owing to durability and corrosion resistance.
Based on the technology type, the pipeline monitoring system market is segmented as ultrasonic, PIG, electronics and semiconductors, coating, fiber optic technology, energy, and others. The ultrasonic segment accounted for the largest share by technology in 2021, owing to stringent regulations for the safety and security of pipelines coupled with pipeline upgradation and expansion. The segment is likely to lead the market during the forecast period as well.
Based on the solution type, the market is segmented as leak detection, operating condition, pipeline break detection, and others. The leak detection segment held the largest share of the market in 2021 and is expected to remain dominant during the forecast period. The significant share of the leak detection segment is attributed to huge investments in pipeline monitoring infrastructures by oil & gas companies.
Based on the end-use industry type, the pipeline monitoring system market is segmented as crude & refined petroleum, water & wastewater, and others. The crude & refined petroleum segment accounted for the largest share in 2021, owing to the higher stakes involved, and the segment is estimated to maintain its dominance during the forecast period as well.
In terms of regions, North America is estimated to be the largest market for pipeline monitoring systems during the forecast period. On the other hand, the Asia-Pacific market is expected to grow with a lucrative CAGR on account of the rapid construction of new pipelines in developing nations of the region, with China and India as the major growth engines.
Why is this report beneficial?
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
It also offers –
- Market Overview
- Key Manufacturers Profiles
- Market Analysis by Region
- Market Segment by Type
- Market Segment by Application
- Raw Material and Supply Chain
- Other Key Research Findings
All the data compiled by the market experts is the outcome of rigorous primary and secondary research conducted on the market players and reliable sources, including company white papers, journals, press releases, and more.
Key players active in the market –
The following are some of the key players in the Pipeline Monitoring System Market:
- Orbcomm Inc.
- Honeywell International Inc
- PSI AG
- Siemens AG
- Huawei Technologies Co. Ltd.
- Bae Systems Inc.
- Pure Technologies
- C-Fer Technologies
- Perma-Pipe Inc.
Customization of the report –
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