According to the latest report by IMARC Group, titled “Pipeline Monitoring Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the global pipeline monitoring systems market. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global pipeline monitoring systems market size reached a value of US$ 13.72 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 20.58 Billion by 2027 exhibiting a growth rate (CAGR) of 6.70% during 2022-2027.
A pipeline monitoring system is widely utilized to monitor corrosions and leakages in oil and gas pipelines and storage tanks caused due to high pressure and natural disasters. It accurately monitors pipelines by scanning fluids and gases under actual operating conditions using commercially available monitoring instruments. It also helps to optimize productivity, improve production process, increase asset lifespan, monitor pipeline networks, leak detection, and enhance safety and compliance while eradicating potential disasters, including fire and explosion. At present, pipeline monitoring systems are commercially available in varying types, such as metallic and non-metallic.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Pipeline Monitoring Systems Market Trends and Drivers:
The market is primarily driven by the expanding refined petroleum, water, and wastewater industries, which leads to rising instances of corrosion, pipe leakages, breaks, and cracks. In addition, the integration of these large-scale systems with magnetic flux leakage technology, pipeline inspection gauges (PIGs), smart balls, and several communication solutions, including human-machine interface (HMI) and supervisory control and data acquisition (SCADA) for executing remote management represents another growth-inducing factor.
Moreover, governments of numerous countries are taking favorable initiatives to promote workplace safety while meeting the working standards, which is facilitating the widespread adoption of pipeline monitoring systems in the crude and refined petroleum industries.
Furthermore, significant investments in research and development (R&D) activities for developing highly efficient facilities to improve production technology and reduce operating costs, along with the increasing oil and gas exploration activities across the globe, are also creating a positive outlook for the market.
Pipeline Monitoring Systems Market Report Scope
Market size value in 2021
US$ 13.72 Billion
Market forecast in 2027
US$ 20.58 Billion
CAGR of 6.70% from 2022 to 2027
Base year for estimation
Global Pipeline Monitoring Systems Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Pipeline Monitoring Systems Companies:
ABB Ltd. (SWX: ABBN)
Honeywell International Inc. (NASDAQ: HON)
Huawei Technologies Co. Ltd.
Pentair plc (NYSE: PNR)
PERMA-PIPE International Holdings Inc. (NASDAQ: PPIH)
PSI Software AG
TC Energy Corporation
Thales Group and Xylem Inc.
The report has segmented the market on the basis of region, pipe type, technology, application and end use industry.
Breakup by Pipe Type:
- Metallic Pipe
- Non-metallic Pipe
Breakup by Technology:
- Ultrasonic Testing
- Smart Ball
- Magnetic Flux Leakage Technology
- Pipeline Inspection Gauges (PIGs)
Breakup by Application:
- Leak Detection
- Pipeline Break Detection
- Operating Condition
Breakup by End Use Industry:
- Oil and Gas
- Water and Wastewater
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Explore Report Description with TOC & List of Figure: https://www.imarcgroup.com/pipeline-monitoring-systems-market
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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