Pipeline monitoring systems are used to provide quick and accurate on-line monitoring of internal & external corrosion activities in pipelines. The global pipeline monitoring systems market was valued at $4,514 million in 2016, and is expected to reach $7,371 million by 2023, registering a CAGR of 7.5% from 2017 to 2023.
The pipeline monitoring systems market growth is driven by the increased oil & gas leakages, stringent government regulations concerning safety & monitoring, and growth in prevention of large storage tanks from natural disasters. In addition, high investments made in pipeline infrastructure are expected to propel the pipeline monitoring systems market growth. However, political instability is expected to hamper the pipeline monitoring systems market growth.
Pipeline monitoring systems are used to collect samples without production of hazardous waste and thus take precautionary measures for both onshore and offshore oil fields. Β
The global pipeline monitoring systems market is segmented on the basis of pipe, technology, end user, and geography. Based on pipe type, itis bifurcated into metallic and non-metallic pipe. By technology, itis categorized into ultrasonic testing, pipeline inspection gauges (PIGs), smart ball, magnetic flux leakage technology, and others.
The pipeline monitoring systems market is analyzed across four regions, namely, North America, Europe, Asia-Pacific, and LAMEA. North America is expected to dominate the global market during the analysis period, due to the presence of large number of pipeline networks. In addition, North America is preventing pipelines from terrorist attacks and other uncertain disasters, thereby investing high amounts on pipeline safety and monitoring systems. The market in Asia-Pacific is expected to grow at a significant rate due to upcoming pipeline projects undertaken by China, Japan, Malaysia, and India among others.
The report includes comprehensive analysis of the key players in this pipeline monitoring systems market such as Orbcomm Inc., Transcanada Company, PSI AG, Pure Technologies, Honeywell International Inc., Perma Pipe Inc., Siemens AG, Huawei Technologies Co. Ltd., BAE Systems, Inc., and Pentair PLC.
The other prominent players in the pipeline monitoring systems industry include Atmos International, Clampon AS, ABB Group, Future Fibre Technologies, Senstar Inc., Syrinix, Radiobarrier, TTK, Krohne Group, and Thales Group.
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