DUBLIN, Feb. 4, 2022 /PRNewswire/ — The “Global Oil & Gas Pipeline Leak Detection Market, By Type (Upstream, Midstream and Downstream), By Internal v/s External, By Internal Leak Detection Method, By External Leak Detection Method, By Application, By End Use, By Region, Competition, Opportunity and Forecast, 2016-2026” report has been added to ResearchAndMarkets.com’s offering.
The Global Oil & Gas Pipeline Leak Detection Market was valued at $2401.32 million in 2020 and is anticipated to grow with a CAGR of 10.21% to reach the value of $4390.43 million by 2026.
Growing energy requirements, rising offshore & onshore exploration activities in the oil & gas industry, and increasing investments by oil & gas market players to prevent gas leakage are the primary factors driving the growth of the Global Oil & Gas Pipeline Leak Detection Market in the forecast period.
Rising incidences of leakages in pipelines can lead to huge loss of lives and monetary losses, making the market players adopt safety measures during oil & gas exploration activities. The imposition of new guidelines by the Pipeline & Hazardous Materials Safety Administration (PHMSA) for the market players and system operators to maintain the pipeline structure to lower the risk of leakage is expected to fuel the adoption of leak detection systems all over the globe.
Ongoing construction of new pipelines and up-gradation of existing systems is accelerating the adoption of new technologies and equipment to lower the risk while oil & gas exploration activities. Leak detection systems are being actively installed in aging pipeline structures as they exhibit higher chances of leakage, corrosion and therefore need continuous monitoring. However, fluctuations in crude oil prices and difficulty obtaining permission to set up new pipeline projects may hinder the growth of the Global Oil & Gas Pipeline Leak Detection Market in the forecast period.
The Global Oil & Gas Pipeline Leak Detection Market is segmented on the basis of type, internal v/s external, internal leak detection method, external leak detection method, application, end-use, competitional landscape, and regional distribution. Based on the application, the market is bifurcated into onshore and offshore. The onshore segment is expected to hold the largest market share in the forecast period, 2022-2026. Availability of a large number of oil & gas reserves, high demand for natural gas, and the rapid adoption of advanced technologies by the market players are expected to drive the growth of the onshore segment in the forecast period.
Some of the major players operating in the Global Oil & Gas Pipeline Leak Detection Market are Honeywell International, Inc., Atmos International Inc., Siemens AG, FLIR Systems Inc., and Schneider Electric SA.
Objective of the Study:
- To analyze the historical growth in the market size of the Global Oil & Gas Pipeline Leak Detection Market from 2016 to 2020.
- To estimate and forecast the market size of the Global Oil & Gas Pipeline Leak Detection Market from 2021 to 2026 and growth rate until 2026.
- To classify and forecast the Global Oil & Gas Pipeline Leak Detection Market based on of type, internal v/s external, internal leak detection method, external leak detection method, application, end-use, competitional landscape, and regional distribution.
- To identify the dominant region or segment in the Global Oil & Gas Pipeline Leak Detection Market.
- To identify drivers and challenges for the Global Oil & Gas Pipeline Leak Detection Market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Global Oil & Gas Pipeline Leak Detection Market.
- To identify and analyze the profiles of leading players operating in the Global Oil & Gas Pipeline Leak Detection Market.
- To identify key sustainable strategies adopted by the market players in the Global Oil & Gas Pipeline Leak Detection Market.
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Impact of COVID-19 on Global Oil & Gas Pipeline Leak Detection Market
5. Voice of Customer
5.1. Brand Satisfaction Level
5.2. Major challenges faced by leak detection system providers
5.3. Major factors responsible for leakage in oil & gas pipeline
5.4. Major techniques used for leak detection in oil & gas pipelines
6. Global Oil & Gas Pipeline Leak Detection Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Type (Upstream, Midstream and Downstream)
6.2.2. By Internal v/s External
6.2.3. By Internal Leak Detection Method (Mass Volume Balance, Negative Pressure Wave, Pressure Point Analysis, Real Time Transient Monitoring (RTTM))
6.2.4. By External Leak Detection Method (Fiber Optic Leak Detection, Liquid Sensing Cable, Vapor Sensing Cable and Acoustic Emission)
6.2.5. By Application (Onshore v/s Offshore)
6.2.6. By End Use (Buried Pipelines, Subsea Pipelines and Refinery/Petrochemical Complex)
6.2.7. By Region
6.2.8. By Company
6.3. Market Map
7. North America Oil & Gas Pipeline Leak Detection Market Outlook
8. Asia-Pacific Oil & Gas Pipeline Leak Detection Market Outlook
9. Europe Oil & Gas Pipeline Leak Detection Market Outlook
10. South America Oil & Gas Pipeline Leak Detection Market Outlook
11. Middle East & Africa Oil & Gas Pipeline Leak Detection Market Outlook
12. Market Dynamics
12.1. Drivers
12.2. Challenges
13. Market Trends & Developments
14. Competitive Landscape
14.1. Competition Outlook
14.2. Company Profiles
14.2.1. Honeywell International, Inc.
14.2.2. Atmos International Inc.
14.2.3. Siemens AG
14.2.4. FLIR Systems Inc.
14.2.5. Schneider Electric SA
14.2.6. Bridger Photonics Inc.
14.2.7. ClampOn AS, Pentair PLC
14.2.8. Pure Technologies Ltd.
14.2.9. Ttk-Leak Detection System
14.2.10. Yokogawa Electric Corporation
15. Strategic Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/e82s7w
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