DUBLIN, Mar 31, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Global Oil & Gas Pipeline Leak and Theft Detection Market, By Onshore Vs. Offshore, By Location of Application, By Source of Revenue, By Technology, By Method of Leak Detection, By Equipment/Device, Competition Forecast & Opportunities, 2012-2022" report to their offering.
The global market of oil & gas pipeline leak and theft detection is anticipated to cross $3.5 billion by 2022
Incidents of oil & gas pipeline spills on account of corrosion and pilferages have led to increasing demand for oil & gas pipeline leak and theft detection systems. Owing to increasing oil & gas production, pipeline infrastructure is continuously being developed across the world. A total of USD3.15 trillion would be invested in pipeline infrastructure until 2035, and more than half of it is expected to be spent on construction of natural gas pipelines.
Investments in pipeline infrastructure is expected to aid global oil & gas pipeline leak and theft detection market through 2022. Moreover, increasing reliance on natural gas of various industries is aiding oil & gas industry, consequently positively influencing global oil & gas pipeline leak and theft detection market. Another important factor expected to contribute to the growth of global oil & gas pipeline leak and theft detection market over the next five years is ageing pipelines. As of 2015, nearly 67% of oil & gas pipelines across the globe are more than 20 years old, while around 18% are 11-20 years old.
High damage caused to the environment in the event of leaks and spills also calls for strict actions from the government and other regulatory bodies, which makes leak and theft detection a compulsion for pipeline operators, thus adding global oil & gas pipeline leak and theft detection market. In terms of location of application, buried pipelines dominated global oil & gas pipeline leak and theft detection market in 2016, followed by subsea pipelines.
The segment is anticipated to maintain its dominance during the forecast period as well. Hardware segment in the major revenue generating segment of global oil & gas pipeline leak and theft detection market. However, software segment is projected to register highest growth in the global market of oil & gas pipeline leak and theft detection during forecast period.
Global Oil & Gas Pipeline Leak and Theft Detection Market 2012-2022 discusses:
- Global Oil & Gas Pipeline Leak and Theft Detection Market Size, Share & Forecast
- Segmental Analysis - By Onshore Vs. Offshore, By Location of Application (Buried Pipelines, Subsea Pipelines, and Refinery/ Petrochemical Complex), By Source of Revenue (Hardware, Software & Aftersales Services), By Technology (Ultrasonic/Acoustic, Flow Monitoring, Fiber Optic, Vapor Sensing & Others), By Method of Leak Detection (Internal Vs. External), By Equipment/Device (Flowmeters, Acoustic Sensors, Pressure Sensors/ Transducers, Intelligent Pigging/ Smart Ball Technology, Cable Sensors & Others)
- Regional Analysis - North America, Asia-Pacific, Europe, Middle East & Africa and South America
- Changing Market Trends & Emerging Opportunities
- Competitive Landscape & Strategic Recommendations
Market Trends & Developments
- Use of Self-propelled Robotic Devices in Pipeline Leak Detection
- Introduction of Smart Wireless Sensor Network for Pipeline Leak detection
- Installation of Smart Leak Detection System with CCTVs
- Growing Environmental Concerns
- Crude Oil Prices Influencing Investments in Pipeline Infrastructure
- Formation of Join Industry Projects (JIPs)
- Increasing Research & Development Activities
- Advancements in Intelligent Pigging Technology
- Agilent Technologies, Inc.
- Atmos International
- Cameron International
- Cisco Systems, Inc
- Emerson Process Management (Fischer Valves)
- Expro Holdings UK 3 Limited
- FLIR Systems, Inc.
- FMC Technologies Inc.
- General Electric (GE oil & gas)
- Honeywell International Inc.
- MFRI (Permapipe Inc.)
- MSA Safety Incorporated
- Mistras Group, Inc.
- PSI AG
- Pentair Ltd
- Pure Technologies Ltd.
- Schneider Electric
- Sensit Technologies
- Siemens AG
- TTK Leak detection
- Yokogawa Electric Corporation
For more information about this report visit http://www.researchandmarkets.com/research/zjhzx5/global_oil_and
Research and Markets
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SOURCE Research and Markets