Oil and Gas Pipeline Leak Detection Market to Perceive Substantial Growth During 2024
The
natural resources of oil and gas are in limited resources and require
heavy investments for a fruitful extraction. Additionally, the
leakage of oil and gas often leads to substantial damage of property
and sometimes life too, besides severely affecting the environment
for a long term. As a result, it is paramount for the players
operating in the oil and gas industry to install efficient detection
methods. As the demand for oil and gas surges further, the dependency
on these pipelines to delivery consistently is mounting. This is
clearly reflecting on global oil and gas pipeline leak detection
market, which is expected to expand at a healthy growth rate during
the forecast period of 2016 to 2024.
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Report Overview @
This
report on global market for oil and gas pipeline leak detection
market is a comprehensive analysis of all the techniques available,
and based on factors that are expected to impact the growth rate in
next few years, it provides figurative estimations until 2024. One of
the key aspect of the report is its section on company profiles,
wherein several prominent players have been analyzed for their market
share and other recent developments. The global oil and gas pipeline
leak detection market can be categorized on the basis of technology
and geography. By technology, the market can be divided into flow
meters, fiber optic sensors, infra-red detection, and pressure
sensors.
The
rapid growth of the oil and gas sector, which is fueled by the
surging demand for energy, is the primary driver of this market.
Additionally, the escalating demand for energy is leading to extended
exploration and production activities and in the recent times,
several new pipeline network have come up. Pipeline material failure
and corrosion have been the major causes of leakage in oil and gas
pipelines. Concurrently, the need for proper leak detection
techniques to avoid potential disaster and accidents is on the rise.
Increased investment in offshore energy recourses is another driver
for the global market for oil and gas pipeline leak detection. Flow
monitoring, fiber optic sensors, pressure monitoring, and infra-red
leak detection are the four prominent leak detection technologies
that are used for the detection of leakages in buried as well as
un-buried hydrocarbon pipelines.
Geographically,
report studies the lucrativeness of the regional markets of North
America, Europe, Asia Pacific, the Middle East and Africa, and rest
of the world. Currently, the Middle East and Africa region
constitutes the maximum market for oil and gas pipeline leak
detection, owing to vast network of pipeline, which is extending even
further. As a result, this region is projected for the best growth
rate during the forecast period. The region of North America is
dominated by the developed economy of the U.S. which resides several
prominent players in this market and hence is expected to remain a
prosperous region over the course of next few years.
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Some
of the prominent companies in global oil and gas pipeline leak
detection market are Siemens AG, Pure Technologies Ltd., Schneider
Electric SA, Pentair Ltd., Krohne Messtechnik GmbH, PSI AG,
Perma-Pipe, Inc., FLIR Systems, Inc., ATMOS International, Energy
Solutions International, Asel-Tech, Inc., and Honeywell
International, Inc.
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