According to the new market research report "Pipeline Monitoring System Market by Pipe Type (Metallic, Non-Metallic), Technology (Ultrasonic, PIGs, Smart Ball, Magnetic Flux Leakage, Fiber Optic Technology), Solution, End-use Industry, and Region - Global Forecast to 2026", published by MarketsandMarkets™, the global Pipeline Monitoring System Market size is projected to grow from USD 13.2 billion in 2021 to USD 19.2 billion by 2026, at a CAGR of 7.8% from 2021 to 2026.
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Browse in-depth TOC on "Pipeline Monitoring System Market"
97 – Tables
42 – Figures
171 – Pages
Pipeline Monitoring System Market Key Players
Siemens AG (US), Honeywell International Inc. (US), Huawei Technologies Co. Ltd. (China), BAE Systems (UK), and TransCanada PipeLines Limited (Canada), amongst others, are the key players operating in the pipeline monitoring system market.
Siemens AG is a leading engineering and manufacturing company in Europe operating in the principal divisions of Digital Industries, Smart Infrastructure, Mobility and Siemens Healthineers, which together form the Industrial Businesses and Siemens Financial Services (SFS). These divisions represent the main activities of the company. Its focus is on the areas of electrification, automation, and digitalization. Siemens AG Gas and Power, which is headquartered in Houston, Texas, is the only company in the world that can provide fully integrated products, solutions, and services across the energy value chain of oil & gas production, power generation, and transmission.
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The pipeline monitoring systems market is expected to witness high growth as a result of increased number of oil & gas leakages in production, pipelines, and storage tanks due to natural disasters and high pressure along with stringent government regulations for pipeline safety and security and expansion and upgradation of pipelines. The growth in trend of the development of new devices and solutions to monitor the pipeline performance, optimize the resources, automate the functions, and safeguard the operations fuels the growth of pipeline monitoring systems.
In terms of value, the metallic pipes segment is estimated to lead the pipeline monitoring system market in 2020.
The metallic pipes segment accounted for the largest market share in the pipeline monitoring system market. Ductile iron pipes, stainless steel pipes, aluminum pipes, and other types, such as cast-iron pipes, corrugated pipes, and copper pipes, are considered under metallic pipes. Iron-based pipes may get corrosive when treated with highly oxygenated water steam; thus, metallic pipes made with steel have a higher demand from the end-user industries. Metallic pipes are also more conducive to heat and less corrosion-resistant than non-metallic pipes.
In terms of value, leak detection is estimated to be the fastest-growing segment in the pipeline monitoring system market.
The leak detection segment is expected to grow at the highest CAGR from 2021 to 2026. This could be attributed to the increasing focus on improving the control over pipeline infrastructure and automating the process to improve productivity, which would enable the monitoring of the conditions of assets and raise an alarm in case of unauthorized events. One of the major reasons of leak detection application to grow includes, increase in investments from oil & gas companies in pipeline monitoring infrastructures and safe transportation of the material through it.
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The APAC region is projected to be the fastest-growing region in the pipeline monitoring system market during the forecast period.
The APAC region is projected to be the fastest-growing region in the Pipeline Monitoring System Market in terms of both value and volume from 2021 to 2026. This region is witnessing the highest growth rate due to the rapid economic expansion. According to the IMF, China and India are among the fastest-growing economies globally. India is expected to overtake China with the highest growth rate, thus driving the global economy. The expansion of existing pipelines and development of new ones increased incidents of oil and gas leakages in pipelines and storage tanks at production facilities, and formulation of stringent regulations by the governments for the implementation of leak detection technologies and systems in different countries of APAC, and rapidly growing industrial sectors are expected to drive the market in APAC.
Benefits of the Report:
⏩ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.
⏩ Top-down and bottom-up approach for regional analysis
⏩ Porter’s five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.
⏩ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market
TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 25)
1.1 OBJECTIVES OF THE STUDY
1.2 MARKET DEFINITION
1.3 MARKET SCOPE
FIGURE 1 PIPELINE MONITORING SYSTEM MARKET SEGMENTATION
1.3.1 YEARS CONSIDERED
1.3.2 REGIONAL SCOPE
FIGURE 2 PIPELINE MONITORING SYSTEM MARKET, BY REGION
1.4 CURRENCY CONSIDERED
1.5 UNIT CONSIDERED
1.6 STAKEHOLDERS
1.7 LIMITATIONS
2 RESEARCH METHODOLOGY (Page No. - 29)
2.1 RESEARCH DATA
FIGURE 3 PIPELINE MONITORING SYSTEM MARKET: RESEARCH DESIGN
2.2 DATA TRIANGULATION
2.2.1 SECONDARY DATA
2.2.2 PRIMARY DATA
FIGURE 4 DATA TRIANGULATION
FIGURE 5 LIST OF STAKEHOLDERS INVOLVED AND BREAKDOWN OF PRIMARY INTERVIEWS
2.3 MARKET SIZE ESTIMATION
FIGURE 6 APPROACH 1: BASED ON SUPPLY-SIDE ANALYSIS
2.3.1 APPROACH – 2
FIGURE 7 PIPELINE MONITORING SYSTEM MARKET: TOP DOWN APPROACH
2.4 RESEARCH ASSUMPTIONS & LIMITATIONS
2.4.1 ASSUMPTIONS
FIGURE 8 LIMITATIONS
2.4.2 RISK ASSESSMENT
TABLE 1 LIMITATIONS & ASSOCIATED RISKS
TABLE 2 RISKS
3 EXECUTIVE SUMMARY (Page No. - 36)
FIGURE 9 METALLIC PIPE TYPE TO HAVE LARGER MARKET SHARE DURING FORECAST PERIOD
FIGURE 10 LEAK DETECTION TO BE FASTEST-GROWING SOLUTION SEGMENT
FIGURE 11 APAC TO BE FASTEST-GROWING PIPELINE MONITORING SYSTEM MARKET FROM 2021–2026
Continued...
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