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 CAGR of 6.70% during 2022-2027.
Pipeline Monitoring Systems Market Overview :
Modern solutions like pipeline monitoring systems make it possible to quickly and accurately track interior corrosion and bacterial activity in pipelines. In order to comply with regulatory monitoring standards, they gather samples without producing hazardous waste and deliver precise data. They are frequently used for monitoring integrity, finding leaks, analysis chemical treatment plans, and assessing operational conditions for pipelines. They help to improve efficiency and the manufacturing process, extend the useful life of assets, ensure safety and compliance, and reduce the risks of potential catastrophes like fire and explosion. As a result, pipeline monitoring systems are widely used in the water and wastewater, oil and gas, and crude and refined petroleum industries.
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.
Pipeline Monitoring Systems Market Trends and Drivers:
The global pipeline monitoring systems market is primarily driven by the rising instances of pipe leakages, breaks, corrosion, or cracks in end use sectors. Additionally, several favorable initiatives undertaken by governments of various countries to ensure workplace safety, promote disaster management, and meet working standards have augmented the product demand.
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Furthermore, recent technological advancements, such as the integration of pipeline monitoring systems with pipeline inspection gauges (PIGs), magnetic flux leakage technology, smart ball, and communication solutions like supervisory control and data acquisition (SCADA) for remote management and efficient operations, have catalyzed the market growth.
Other factors, including the aging pipeline infrastructure, increasing oil and gas exploration activities, and ongoing research and development (R&D) activities, are also anticipated to drive the market further.
|Pipeline Monitoring Systems Market Report Scope|
|Market size value in 2021||US$ 13.72 Billion|
|Market forecast in 2027||US$ 20.58 Billion|
|Growth Rate||CAGR of 6.70% from 2022 to 2027|
|Base year for estimation||2021|
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.
ABB Ltd., Honeywell International Inc., Huawei Technologies Co. Ltd., Orbcomm Inc., Pentair plc, PERMA-PIPE International Holdings Inc., PSI Software AG, Siemens 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
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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.