The Global Pipeline Monitoring Systems Market Size was valued at $13,867.2 million in 2020, and is projected to reach $29,115.8million by 2030, registering a CAGR of 7.6% from 2021 to 2030.Pipeline safety and monitoring has become a need for sectors such as natural gas, petroleum, oil and gas, energy, and others. Pipeline monitoring and testing are required to prevent pipeline damage. The leakage or breaking might cause significant damage and have a negative impact on the environment. Pipeline monitoring systems market expansion is fueled by factors such as the rapid rise of leakage issues in the oil and gas sectors, as well as the increased consumption of petroleum products throughout the world.
As the liquid and gas products that run through the pipelines are extremely reactive, the pipeline can occasionally develop excessive pressure, resulting in pipe breakage. Owing to excessive pressure in the pipes, accidents, or natural disasters, leak detection difficulties are on the rise in the liquid & gas sectors, resulting in numerous occurrences such as pipe leaking, pipe breakage, and pipe bursting. These accidents tend to raise oil & gas prices and supplies throughout the world. As a result, leak detection is a major problem in the sector. And hence such factor is expected to increase the demand for pipeline monitoring systems market growth and provide lucrative opportunities in the market.
Market Dynamics
Moreover, pipeline infrastructure has increased significantly owing to growth demands for oil and gas in most major countries. Pipelines for the transportation and distribution of oil and gas products are being installed across various regions across thousands of km. For instance, in May 2021, Honeywell International will provide UOP technology to Numaligarh Refinery Ltd, Indian Ministry of Petroleum and Natural Gas for generating cleaner-burning diesel fuel and enhance crude oil conversion in accordance with India's BS-VI emission requirements. Hence, the need for pipeline monitoring systems has been spurred by the enormous networks of pipelines for oil & gas and petroleum sectors.
The novel coronavirus has rapidly spread across various countries and regions, causing an enormous impact on the lives of people and the overall community. It began as a human health condition and has now become a significant threat to global trade, economy, and finance. The COVID-19 pandemic has halted the production of many products in the pipeline monitoring systems business due to the lockdown. Furthermore, the number of COVID-19 cases is expected to reduce in the near future as the vaccine for COVID-19 is introduced in the pipeline monitoring systems market. This has led to the reopening of pipeline monitoring systems companies at their full-scale capacities. This will help the market to recover by the start of 2022.After COVID-19 infection cases begin to decline, equipment &machinery producers must focus on protecting their staff, operations, and supply networks to respond to urgent emergencies and establish new methods of working.
By Pipe Type
Non-Metallic Pipe segment is projected to grow at a significant CAGR
The pipeline monitoring systems market is segmented on the basis of material type, technology, end user, and region. By material type, the market is categorized into metallic and non-metallic. Depending on technology, the market is divided into ultrasonic testing, PIGs, smart ball, magnetic flux leakage technology and others. By end user, it is fragmented into petroleum, water & waste water and others. Region wise, the global market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Spain, Russia, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
By Technology
Ultrasonic Testing segment holds dominant position in 2020
Competition Analysis
Key companies profiled in the pipeline monitoring systems market report include Orbcomm Inc., Transcanada Company, PSI AG, Pure Technologies, Honeywell International Inc., Perma Pipe Inc., Siemens AG, Huawei Technologies Co. Ltd., BAE Systems, Inc. and Pentair PLC.
By Region
Asia-Pacific holds a dominant position in 2020 and is expected to grow at a significant rate during the forecast period.
Key Benefits For Stakeholders
- The report provides an extensive analysis of the current and emerging pipeline monitoring systems market trends and dynamics.
- In-depth pipeline monitoring systems market analysis is conducted by constructing market estimations for key market segments between 2021 and 2030.
- Extensive analysis of the pipeline monitoring systems market is conducted by following key product positioning and monitoring of top competitors within the market framework.
- A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
- The global pipeline monitoring systems market forecast analysis from 2021 to 2030 is included in the report.
- The key players within pipeline monitoring systems industry are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the Pipeline monitoring systems industry.
Pipeline Monitoring Systems Market Report Highlights
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Analyst Review
The market for pipeline monitoring systems provides a positive perception for the oil and gas sector. The deployment of pipeline monitoring systems has increased in both established and emerging areas in the present corporate environment. In order to supply clients with unique and contemporary security products, the organizations use effective procedures such as pipeline monitoring systems.
The pipeline monitoring systems market continues to advance and expand owing to leakage or pipeline breakage incidence. Such incidents force oil & gas sectors to install efficient monitoring solutions. Leakage monitoring, breakage protection, and incident management are all ensured by the monitoring systems. Furthermore, key players have expanded their pipeline monitoring business by adopting strategic moves such as acquisition, partnerships, and agreement. For instance, in October 2021, Xylem partnered with Dragon Inc. the global leader in cyber security for industrial controls systems and operational technology environments, to bring best-in-class industrial cyber security to critical infrastructure in the water sector. Such factors are expected to provide lucrative growth in pipeline monitoring systems during the forecast period.
The pipeline monitoring system market size was valued at $13,867.2 million in 2020.
Based on technology type, the ultrasonic testing holds the maximum market share of the pipeline monitoring system market in 2020.
The pipeline monitoring system market is projected to reach $29,115.8 million by 2030.
Increase in leakage problems and rise in oil & gas plants are the key trends in the pipeline monitoring system market.
The product launch is key growth strategy of pipeline monitoring system industry players.
The company profile has been selected on factors such as geographical presence, market dominance (in terms of revenue and volume sales), various strategies and recent developments.
High installation cost and global political instability are the effecting factors for pipeline monitoring system market.
The end users of pipeline monitoring system include petroleum, water & wastewater and others.
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