The Pipeline Safety Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Pipeline Safety Global Market Report 2024, The pipeline safety market size has grown strongly in recent years. It will grow from $9.15 billion in 2023 to $10.05 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to stringent regulatory compliance, growing environmental concerns, expansion of pipeline networks, public safety and perception, prevention of accidents and leakages.
The pipeline safety market size is expected to see rapid growth in the next few years. It will grow to $14.75 billion in 2028 at a compound annual growth rate (CAGR) of 10.1%. The growth in the forecast period can be attributed to integration of advanced analytics, adoption of remote monitoring, emphasis on cybersecurity measures, focus on proactive maintenance. Major trends in the forecast period include drone technology for surveillance, enhanced communication and collaboration platforms, regulatory compliance management, augmented reality (AR) for training and maintenance, hybrid pipeline monitoring solutions.
The increase in demand for oil and gas leads to the development of pipeline infrastructure, which eventually drives the growth of the pipeline safety market. For instance, in January 2021, the Government of India announced the plan to spend $60 billion for establishing gas infrastructures such as pipelines, liquefied natural gas terminals, and city gas distribution networks. in March 2023, according to the US Energy Information Administration, a US-based government agency, there was crude oil output with 12.4 million b/d in 2023 from 11.7 million b/d in 2022 in US. Additionally, in September 2022, the average daily consumption of natural gas in the US was 86.6 billion cubic feet (Bcf/d) in 2022, which was the highest annual consumption of natural gas compared to the previous year. The rise in the usage of piped gas lines contributes to the demand for the pipeline safety market growth.
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The pipeline safety market covered in this report is segmented –
1) By Component: Solutions, Services
2) By End User: Natural Gas, Crude Oil, Refined Products, Other End Users
3) By Application: Onshore, Offshore
Major companies operating in the pipeline safety market are focusing on introducing advanced solutions with technology, such as vibroacoustic wave detection systems, to provide a competitive edge in the market. Vibroacoustic wave detection systems are technology capable of providing real-time analysis, monitoring, and leak detection for pipelines. For instance, in March 2023, Eni S.p.A., an Italy-based oil industry company, launched the Eni Vibroacoustic Pipeline Monitoring System (E-VPMS). Pipeline Monitoring System (E-VPMS) is a proprietary technology developed for continuous real-time monitoring of oil and gas pipelines. The Eni Vibroacoustic Pipeline Monitoring System (E-VPMS) uses vibroacoustic wave detection technology to monitor both fluid behavior within the pipe and acoustic waves traveling along the pipe wall. It contains multiple sensors at discrete distances along the pipeline. It is used on block valve stations for buried pipelines and for transporting crude oil, refined products, and injection water. It has alarms to transmit to operations teams in real time to notify them of incidents and events.
The pipeline safety market report table of contents includes:
- Executive Summary
- Pipeline Safety Market Characteristics
- Pipeline Safety Market Trends And Strategies
- Pipeline Safety Market - Macro Economic Scenario
- Global Pipeline Safety Market Size and Growth
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- Global Pipeline Safety Market Competitive Benchmarking
- Global Pipeline Safety Market Competitive Dashboard
- Key Mergers And Acquisitions In Pipeline Safety Market
- Pipeline Safety Market Future Outlook and Potential Analysis
- Appendix
Top Major Players :
- Exxon Mobil Corporation
- Chevron Corporation
- Marathon Petroleum Corporation
- Valero Energy Corporation
- The Phillips 66 Company
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A new research study from “Data Bridge Market Research” with title Pipeline Safety Market Insights 2019, Global Analysis and Forecast to 2026 provides an in-depth assessment of the Pipeline Safety Market including key market trends, upcoming technologies, industry drivers, challenges, regulatory policies, key players company profiles and strategies.
Some of the leading key players profiled in this study: RCP Inc., Nuka Research & Planning Group, LLC., Schneider Electric, Siemens, ABB, BAE Systems., Thales Group, Senstar Corporation, Syrinix, POLUS-ST, GENERAL ELECTRIC Global pipeline safety market is set to witness a substantial CAGR of 9.6 % in the forecast period of 2019 to 2026.
The report contains data of the base year 2018 and historic year 2017Grab Sample Report + All Related Tables & Charts of Global Web Mapping Market Study Now @ https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-pipeline-safety-marketMarket Definition: Global Pipeline Safety Market Pipeline safety is used as oil and liquid products are transferred over the long-distance through pipelines.
Technologies such as SCADA for pipeline monitoring have been widely recognized within the global petroleum and gas business Top Manufacturers Covered in the Report: Few of the major competitors currently working in the Global pipeline safety market are RCP Inc., Nuka Research & Planning Group, LLC., Schneider Electric, Siemens, ABB, BAE Systems., Thales Group, Senstar Corporation, Syrinix, POLUS-ST, GENERAL ELECTRIC, Huawei Technologies Co., Ltd., TransCanada Pipelines Limited, Buckeye Partners, L.P, Elbit Systems Ltd, GPS – SECURITY , Holly Energy Partners, Phillips 66 Pipeline LLC, Accenture Recent Developments in the Market: In July 2019, Linestar Integrity Services LLC finished the acquisition of remote operation center LLC and the Compliance group Inc. With this acquisition Linestar is planning to increase its compliance and technical services offering.
In December 2018, MISTRAS Group, Inc. completed the acquisition of Onstream Pipeline Inspection Services Inc.
This will capitalize the company’s control in the midstream industry and would speed up the growth by the tactical efforts to contribute a pillar of pipeline credibility to the portfolio of services.
The report "Pipeline Safety Market by Component (Solutions (Pipeline Monitoring System, Secure Communication, Perimeter Intrusion Detection, SCADA for Pipelines, and ICS Security) and Services), Application, Vertical, and Region - Global Forecast to 2025", size is expected to grow from USD 7.9 billion in 2020 to USD 12.2 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 9.2% during the forecast period.
Improved spending by most oil and gas companies for pipeline infrastructure, network monitoring, and leak detection and rise in the number of oil and gas leakage incidence/accidents driving the adoption of pipeline safety market.Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=187556390Need to understand the customer needs for tailor-made pipeline safety solutions to drive the growth of pipeline safety services during the forecast periodThe demand for pipeline safety services is driven by the growing need for improved pipeline operations performance about pipeline operation scheduling and reduced operational cost of liquid/gas delivery across the globe.
The success of pipeline safety depends on how well pipeline solutions are implemented and used to handle its operations.
The benefits gained by the effective utilization of pipeline safety solutions and offering tailor-made solutions as per the needs of organizations are the major factors driving the demand for services associated with pipeline safety solutions.Rising demand to monitor proper pipeline functioning and avoid disturbance in operating conditions to drive the growth of the pipeline monitoring systems segment to hold a larger market sizePipeline monitoring is required to detect small pipeline leaks faster and more reliably while simultaneously monitoring third-party interferences and other external pipeline threats to prevent leaks altogether.
It automates the process to improve productivity, enabling readers to monitor their assets current condition and raise the alarm in case of unauthorized events.
This is mainly because of the presence of various developed economies, such as Canada and the US, and due to the focus on innovations obtained from R and various technologies.
Global Pipeline Safety Market was valued US$5.90 Bn in 2017 and is expected to reach US$11.80 Bn by 2026, at a CAGR of 9.05% during a forecast period.
The report is majorly segmented into Technology & Solution, Services, Vertical, and Region.
Further, Pipeline Safety Market based on Technology & Solution includes Perimeter intrusion detection, secure communication, Satellite monitoring, video surveillance, SCADA for pipelines, Pipeline monitoring system, Leakage Detection, External threat, Pig tracking, integrated fiber optics monitoring, and Industrial control system security.
Services segment is sub-segmented into Professional services, Consulting services, Risk management, Repair and maintenance, Pipeline integrity management, Further, Vertical includes Natural gas, Crude oil, Refined products, Others.
Risk management is highly required in all pipeline safety solution deployments.
Due to terrorist attacks, chemical & gas leakage along with the impact of natural calamities on pipelines increases the need for pipeline safety.
