Increasing demand for fuel worldwide has been driving expansion in the oil & gas pipeline network across the globe. However, such rapid expansion in pipeline network also poses huge threats as the risk of pipeline leakage increases significantly. As oil and gas pipelines are loaded with hazardous material, a single leak can transform into a potential disaster. Leakage from pipelines can result in major accidents, as has been observed in several incidences in the past. Pipeline material failure and corrosion have been the major causes of leakage in oil and gas pipelines. Pipeline leakages cause significant losses for the company, including monetary and in the form of lost goodwill. Often, negligent companies are highly penalized for the severe damages caused by oil spills or gas leakage. Besides losses to the company, incidences of pipeline leakage cause adverse damage to the environment. With growing number of oil and gas exploration activities globally as well as increasing environmental concerns, the demand for oil & gas pipeline leak detection systems is expected to surge during the forecast period. Pipeline leak detection system comprises various components, often provided as a turn-key solution by majority of players, which are integrated with a monitoring system to provide efficient and effective leak detection.
According to “Global Oil & Gas Pipeline Leak Detection Market Forecast & Opportunities, 2019”
indicates that the global market for oil & gas pipeline leak detection systems is forecast to reach USD2.5 billion through 2019. The report discusses four key leak detection technologies that include flow monitoring, pressure monitoring, fiber optic sensors and infra-red leak detection, which is used in the detection of leakages in buried as well as un-buried hydrocarbon pipelines. The demand for leak detection systems is expected to grow steadily across all regions globally, with Middle East & Africa likely to exhibit the fastest growth during the forecast period. The MEA region has been witnessing strong growth in the oil and gas sector in recent years, which has led to large-scale expansion of pipeline network in the region, particularly Middle East, thus benefitting the market for pipeline leak detection systems. The Americas captured the largest share in the global leak detection market, a trend likely to continue in the next five years. Some of the leading players in the global leak detection market include Siemens, Pure Technologies, Schneider Electric, Honeywell International and Perma-Pipe among others. As the global pipeline industry proliferates, the demand for fast, accurate and efficient leak detection systems is expected to increase considerably in the years to come. “Global Oil & Gas Pipeline Leak Detection Market Forecast & Opportunities, 2019”
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Why You Should Buy This Report?
- Global Oil & Gas Pipeline Leak Detection Gas Market Size, Share & Forecast
- Technology Analysis – Pressure Sensors, Fiber Optic Sensors, Infra-Red Detection and Flow Meters
- Regional Market Analysis by Value
- Changing Market Trends & Emerging Opportunities
- Competitive Landscape & Strategic Recommendations
- To gain an in-depth understanding of oil & gas pipeline leak detection systems in the global market
- To identify the on-going trends and anticipated growth in the coming years
- To obtain research based business decision and add weight to presentations and marketing materials
- To gain competitive knowledge of leading players
- To avail 10% customization in the report without any extra charges and get the research data or trends added in the report as per the buyer’s specific needs
The information contained in this report is based upon both primary and secondary sources. Primary research included interviews with leak detection service provider companies. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.