Pipeline Monitoring System Market was valued at USD 13.5 billion in 2021 and is projected to reach USD 23.7 billion in 2029, growing at a CAGR of 7.3% during 2022-2029
The factors driving the growth of Pipeline Monitoring System Market includes rising concerns related to terrorist threats and cyber-attacks on oil and gas infrastructure systems, increasing incidences of leakage in the oil and gas sector, emerging need to replace the oil and gas pipelines and improvements in the living standards. Moreover, growing adoption of information and communication technologies such as Supervisory Control and Data Acquisition (SCADA), Intelligent Video Surveillance (IVS) and Human Machine Interface (HMI), increasing demand for metallic pipes, rise in the launch of innovative products and rapid urbanization, are some of the additional factors supplementing the market growth. In addition, the increasing investments by major companies on research and development, strategic mergers and collaborations between key players and rising population growth rates, are further contributing towards the market growth.
Request a free sample of this report
However, growth of the Pipeline Monitoring System Market is hindered due to inadequate knowledge amongst the end-users about pipeline monitoring systems.
The major players operating in the market are Huawei Technologies Co., Ltd., Siemens, Xylem Inc., TransCanada Pipelines Limited, ORBCOMM, PSI Software AG, BAE Systems, PERMA-PIPE International Holdings, Inc., Honeywell International Inc, and C-FER Technologies Inc, among others.
Based on Pipe Type, the Metallic Pipes segment is predicted to grow at a significant CAGR during the forecast period
As per the Pipeline Monitoring System Market Global Forecast, metallic pipes are highly durable, elastic, environment friendly and easy to maintain, are some of the features pushing growth of the segment.
Based on Technology, the Ultrasonic segment is projected to expand at a robust CAGR over the forecast period
Ultrasonic technology improves accuracy, detects deviating conditions, and minimizes power consumption, are propelling Pipeline Monitoring System Market size.
Based on Region, the Asia-Pacific region is anticipated to grow at a remarkable CAGR during the forecast period
Rapid economic growth across India, China, and Indonesia, growing adoption of advanced technologies by manufacturers, increasing per capita incomes and high population growth rates, are further contributing towards the market growth.
Key Developments
- In 2019, Honeywell International Inc. completed the acquisition of Rebellion Photonics, which is a provider of intelligent, innovative, and visual gas monitoring solutions. This acquisition strengthened company’s portfolio of process technologies, automation, and gas detection solutions and has fastened the transformation process to a software-industrial company.
Market Segmentation
Segmentation by Pipe Type
- Non-Metallic Pipes
- Metallic Pipes
- Others
Segmentation by Technology
- PIG
- Ultrasonic
- Magnetic Flux Leakage
- Smart Ball
- Fiber Optic Technology
- Others
Segmentation by Solution
- Operating Condition
- Leak Detection
- Pipeline Break Detection
- Others
Segmentation by End-Use Industry
- Water & Wastewater
- Crude & Refined Petroleum
- Others
Segmentation by Region
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: [email protected]
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: https://www.gmiresearch.com/
