Leak Detection Market for Oil & Gas - Expected to Reach USD 2.71 Billion by 2020 and Grow at a CAGR of 7.1% Between 2015 and 2020

DUBLIN, November 30, 2015 /PRNewswire/ --

Research and Markets (http://www.researchandmarkets.com/research/h79fft/leak_detection) has announced the addition of the "Leak Detection Market for Oil & Gas by Technology, by Type and Region - Global Forecast to 2020"  report to their offering. 

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With the increasing demand for energy throughout the globe causes the requirement for new oil and gas pipelines to transport hydrocarbons to market which is driving the demand for leak detection systems in the past few years. Rise in demand for oil & gas exploration and production activities around the world, increasing fuel consumption, and environmental concerns are the opportunities in leak detection market for oil & gas. 

The market is expected to grow at a CAGR of 7.1% between 2015 and 2020. Leak detection market for oil & gas based on technologies has been segmented into negative pressure wave analysis, E-RTTM, fiber optic sensing cables, vapor sensing tubes, mass-volume balance method, and others. The market is divided into upstream and midstream & downstream on the basis of type. 

This report describes the market trends, drivers, restraints, opportunities, and challenges for the leak detection market and forecasts the market between 2015 and 2020 on the basis of type, technology, and geography. Factors driving the leak detection market include increased number of oil & gas leakages at production, pipelines and storage tanks, due to natural disasters and high pressures. 

The negative pressure wave technology accounts for the major share in the leak detection market. Market for this segment was valued at USD 585.4 Million in 2014 while market for E-RTTM technology is expected to grow at the highest CAGR of 8.3% between 2015 and 2020. 

North America is the largest shareholder in the leak detection market and trend is expected to be the same between 2015 and 2020 while leak detection market for oil & gas in the countries such the U.S., China, Iran, India, Canada, Iraq, Russia, Ukraine, and Saudi Arabia is expected to grow rapidly in comparison with other regions. 

Scope of the report: 

On the basis of technology:

• Negative pressure wave
• E-RTTM
• Fiber optic cables
• Vapor sensing tubes
• Mass-volume balance method

On the basis of type:

• Upstream
• Midstream 
• Downstream.

On the basis of region:

• North America
• Latin & Central America
• Europe
• Asia-Pacific (APAC)
• Middle East
• Africa.

Target audience: 

• Various leak detection system manufacturing companies
• Research and development organizations
• Technology providers and investors
• Associations working on leak detection technologies
• Component and software providers

Key Players: 

• Atmos International
• Clampon as
• Honeywell International Inc
• Krohne Group
• PSI AG
• Pentair PLC
• Perma-Pipe, Inc
• Pure Technologies Ltd
• Schneider Electric S.E.
• Siemens AG
• TTK

For more information visit http://www.researchandmarkets.com/research/h79fft/leak_detection

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SOURCE Research and Markets