Leak detection is a system that detects leakage in oil & gas pipelines and convey information to pipeline controllers. Leak detection systems increase efficiency, safety, and reliability of oil & gas pipelines by reducing inspection time and downtime. It provides information in the form of alarm or others to assist controllers in making decision and take appropriate action.
Increased number of leakages at oil & gas production, pipelines, &storage tanks and government regulations for safety & security are factors driving the growth of the world leak detection market for oil & gas. In addition, expansion upgradation of exploration, pipelines, drilling sites, and refineries supplements the growth. However, high cost and limitations in feasibility are factors hindering the growth of the market. The demand for oil & gas exploration and production activities and environmental concerns would create opportunities in the market.
The world leak detection market for oil & gas is segmented based on technology, type, and geography. On the basis of technology, the market is classified into negative pressure wave, mass-volume balance method, fiber optic cables, E-RTTM, vapor sensing tubes, and others. The types covered in the report include upstream, downstream, and midstream. The regions, such as North America, South & Central America, Europe, Asia-Pacific, and Latin America, Middle East and Africa (LAMEA) would experience tremendous growth.
The prominent companies operating in the market are Honeywell International Inc., Perma-Pipe Inc., PSI AG, Pure Technologies Ltd., Atmos International, TTK, Pentair Ltd., Siemens AG, ClampOn AS, Krohne Group, and Schneider Electric S.E. Expansions, partnerships, collaborations, mergers & acquisitions, joint ventures, and others are some of the strategies adopted by these companies to strengthen their position in the market.
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