Startview Research has launched a market research report titled ‘Pipeline Monitoring System Market’ that is compiled by leveraging findings as well as insights about the market that helps businesses to stay ahead in the competitive market. It also helps the market players in selecting targets, guiding where to invest, giving users detailed information about company profiles, etc. This report provides reliable and accurate market data, that can work as the key to the growth of any business. The report estimates future trends, challenges, linchpins, opportunities, revenue, and future sales count in the target market along with forecasting for a 5-year period.

According to this report, Pipeline Monitoring System Market was estimated at USD 13.53 billion in 2021 and is likely to grow at a CAGR of 7.65% during 2022-2028 to reach USD 22.74 billion in 2028.

The prime factor that is contributing to the demand for pipeline monitoring systems is the increasing number of oil & gas leakages during the production process.

What is a pipeline monitoring system?

Pipeline monitoring systems are used to evaluate corrosion and bacteriological control programs in pipelines. The system is used to collect data for pipeline risk evaluation and integrity monitoring in order to satisfy regulatory monitoring requirements.

COVID-19 IMPACT

The oil & gas industry has been highly affected by the global pandemic in the year 2020. The hit that the oil & gas industry took also affected the development of the pipeline monitoring system market. Monitoring system deployment projects were delayed during the pandemic due to a lack of workforce. These factors negatively affected the growth of the pipeline monitoring system market.

Market Segments' Analysis

Stratview Research has bifurcated the Pipeline Monitoring System Market by the following –

• Pipe Type (Metallic Pipes, Non-Metallic Pipes, and Others),

• Technology Type (Ultrasonic, PIG, Smart Ball, Magnetic Flux Leakage, Fiber Optic Technology, and Others),

• Solution Type (Leak Detection, Operating Condition, Pipeline Break Detection, and Others),

• End-Use Industry Type (Crude & Refined Petroleum, Water & Wastewater, and Others),

• Region (North America, Europe, Asia-Pacific, and Rest of the World).

Based on the pipe type, the market is segmented as metallic, non-metallic, and others. The metallic segment held the largest share of the market in 2021 and is expected to remain dominant during the forecast period. The significant share of the metallic segment is attributed to metals being the major materials for the construction of pipes owing to durability and corrosion resistance.

Based on the technology type, the pipeline monitoring system market is segmented as ultrasonic, PIG, electronics and semiconductors, coating, fiber optic technology, energy, and others. The ultrasonic segment accounted for the largest share by technology in 2021, owing to stringent regulations for the safety and security of pipelines coupled with pipeline upgradation and expansion. The segment is likely to lead the market during the forecast period as well.

Based on the solution type, the market is segmented as leak detection, operating condition, pipeline break detection, and others. The leak detection segment held the largest share of the market in 2021 and is expected to remain dominant during the forecast period. The significant share of the leak detection segment is attributed to huge investments in pipeline monitoring infrastructures by oil & gas companies.

Based on the end-use industry type, the pipeline monitoring system market is segmented as crude & refined petroleum, water & wastewater, and others. The crude & refined petroleum segment accounted for the largest share in 2021, owing to the higher stakes involved, and the segment is estimated to maintain its dominance during the forecast period as well.

In terms of regions, North America is estimated to be the largest market for pipeline monitoring systems during the forecast period. On the other hand, the Asia-Pacific market is expected to grow with a lucrative CAGR on account of the rapid construction of new pipelines in developing nations of the region, with China and India as the major growth engines.

Key Players

• Orbcomm Inc.

• Transcanada

• Honeywell International Inc

• PSI AG

• Siemens AG

• Huawei Technologies Co. Ltd.

• Bae Systems Inc.

• Pure Technologies

• C-Fer Technologies

• Perma-Pipe Inc.

Market Features

This report on the Pipeline Monitoring System Market is one of the important tools with the help of which the users can obtain a well perspective and understanding of the target market and customer. The details in the report cover Covid19 impact on the market and also predict how long will it take to recoup which aids in reducing business failures.

- Trend analysis, pricing, and competitive analysis are some of the vital factors covered in this report.

- This report consists of an in-depth analysis of the market to help businesses in improving decision-making.

- Pipeline Monitoring System Market report aims at evaluating future sales as well as trends for the prediction period of 5 years.

- This report helps to keep the users updated with key changes that take place in the present market.

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