Europe Oil & Gas Pipeline Leak and Theft Detection Market to Cross $0.40 Billion by 2022
Increasing
exploration and production, rising investments in further expanding pipeline
infrastructure and growing demand for oil & gas are expected to fuel demand
for oil & gas pipeline leak and theft detection systems in Europe through
2022
According to a recently
published TechSci Research report, “Europe Oil & Gas Pipeline Leak and Theft Detection
Market By Onshore Vs.
Offshore, By Application, By Source of Revenue, By Equipment, and By Technology
Competition Forecast & Opportunities, 2012–2022”, the market
of Oil
& Gas pipeline leak and theft detection is anticipated to cross $0.40 billion by 2022.
Demand for natural gas is rising majorly for
power generation, which is one of the major factor fueling oil & gas
pipeline infrastructure in Europe. Gazprom, BASF, EON, ENGIE, OMV and Shell
together have decided to construct the Nord Stream 2 Gas Pipeline System. This
project is expected to have a capacity of 55 billion cubic meters per annum of
gas from Russia to Germany across the Baltic Sea. During 2017-2022, oil &
gas pipeline leak and theft detection market in Europe is expected to witness
moderate growth as the region is conducive for investments in pipeline infrastructure.
Use of flowmeters is anticipated to increase in the coming years, while fiber
optic is likely to be the most preferred external method of leak detection in Europe
through the forecast period.
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“Nearly 86% of crude oil demand
in Europe in 2006 was met through imports and is forecast to reach 90% by 2022.
This indicates high dependence on crude oil imports. Hence, oil & gas
pipeline infrastructure in Europe is expected to expand further in the coming
years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
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“Europe Oil & Gas
Pipeline Leak and Theft Detection Market By
Onshore Vs. Offshore, By Application, By Source of Revenue, By Equipment, and
By Technology Competition Forecast & Opportunities, 2012–2022” has
evaluated the future growth potential of Europe Oil & Gas pipeline leak and theft detection market and
provides statistics and information on market structure. The report is intended
to provide cutting-edge market intelligence and help decision makers take sound
investment evaluation. Besides, the report also identifies and analyzes
emerging trends along with essential drivers, challenges available in Europe Oil & Gas pipeline leak and
theft detection market.
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