LONDON, Sept. 29, 2016 /PRNewswire/ -- Executive Summary
A comprehensive research report created through extensive primary research (inputs from industry experts, companies, stakeholders) and secondary research, the report presents the analysis of Asia Pacific Leak Detection Systems (LDS) market on the basis of Application (Onshore, Offshore), by Region (Eastern Asia Pacific, South-Eastern Asia Pacific, Southern Asia Pacific) and By Country (China, Japan, South Korea, Taiwan, Australia, Vietnam, Malaysia, Indonesia, Burma, Thailand, Singapore, India, Pakistan).
Rise in offshore drilling activities, increasing demand for life-of-field inspections, technological advancements, cost effective inspection system, increasing pipeline projects, rising demand for leak detection systems, rise in demand for fuel are the basic reasons behind increased demands for the Asia Pacific oil & gas leak detection system market.
China and India are expected to experience the highest growth owing to deepwater oil & gas activities. Demand in Asia will be diverse with deepwater expenditure in India, Indonesia and Malaysia; and investment in China & Japan. Rise in Capital Intensive developments in unconventional sources, and increase in offshore exploration in Asia Pacific have further propelled the demand for oil and natural gas, thereby accelerating the market for equipment for detecting leaks through the pipeline spreads. Additionally, governments have been investing in the oil and gas pipeline infrastructure, which would propel the leak detection market until 2021.
The report speaks about the offshore and onshore allocation of the market share wherein rise in the offshore explorations would drive the market in the offshore oil and gas industry. Moreover, the percentage share of the onshore market is anticipated to decline but would still be higher than offshore market until the year 2021. But higher installation cost, water contamination, environmental & public health is one of the biggest restraints faced by this industry. Increase in oil & gas production with an extensive system of pipeline spread has surged the need for detecting more leaks further driving the market for leak detection systems. With the high demand for energy in the Asia Pacific nations there has been an increase in exploration activities leading to growth in the market for leak detection equipment.
According to recently published Azoth Analytics report "Global Asia Pacific Oil & Gas Leak Detection System Market: Opportunities and Forecasts (2016-2021)", Asia Pacific Oil & Gas Leak Detection System Market is forecasted to grow at a CAGR of 3.23% during 2016 – 2021F, on account of increased activities in exploration and production activities in the oil and gas sector along with rise in number of pipeline projects and offshore oil & gas explorations in various Asia Pacific nations.
The oil and gas industry in Eastern Market holds the highest share by region having a 3.42% CAGR from 2011-2015 followed by South-Eastern Market and Southern Market, respectively. China has high exporting capacity for Natural Gas as well as is world's largest net importer of petroleum and other liquids, in part because of China's rising oil consumption.
According to Azoth Analytics research report, "Asia Pacific Oil & Gas Pipeline Leak Detection System (LDS) Market: Opportunities and Forecasts (2016-2021)", Asia Pacific Oil & Gas Leak Detection System Market is projected to exhibit a CAGR of over ~3.23% during 2016 - 2021. Few of the leading companies profiled in the report include Krohne Group, PSI AG, Siemens, Pentair Ltd., Honeywell International Inc., Schneider Electric, Enbridge Inc.
Scope of the Report
The report provides coverage:
- Eastern Asia Pacific
- South-Eastern Asia Pacific
- Southern Asia Pacific
- Rest Of Asia Pacific
- South Korea
Customization of the Report
The report could be customized according to the client's specific research requirements. No additional cost will be required to pay for limited additional research.
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