Pipeline Monitoring System Market Expected to Rise at A High CAGR, Driving Robust Sales and Revenue till 2028

The market research report on the Pipeline Monitoring System Market aims to help users discover detailed information regarding trends in the market. The report also throws light on the overview of the thorough analysis of the correlated key players active in the market, covering their competitive landscape, supply chain analysis, and latest developments like investments, expansion, technological growth, etc.

Market Forecast:

The pipeline monitoring system market was estimated at USD 13.53 billion in 2021 and is likely to grow at a CAGR of 7.65% during 2022–2028 to reach USD 22.74 billion in 2028.

The prime factor that is contributing to the demand for pipeline monitoring systems is the increasing number of oil & gas leakages during the production process.

What is a pipeline monitoring system?

Pipeline monitoring systems are used to evaluate corrosion and bacteriological control programs in pipelines. The system is used to collect data for pipeline risk evaluation and integrity monitoring in order to satisfy regulatory monitoring requirements.

Here are the key players mentioned in the report –

• Orbcomm Inc.
• Transcanada
• Honeywell International Inc
• PSI AG
• Siemens AG
• Huawei Technologies Co. Ltd.
• Bae Systems Inc.
• Pure Technologies
• C-Fer Technologies
• Perma-Pipe Inc.

Segment Analysis:

Market segmentation included in this report divides the Pipeline Monitoring System Market into subgroups based on demographics, needs, priorities, shared interests, and other behavioral characteristics that help to better understand the target audience. The user can be from benefitted by using this targeting in product, sales, and marketing strategies.

As per the report, the market is segmented by:

Based on the pipe type, the market is segmented as metallic, non-metallic, and others. The metallic segment held the largest share of the market in 2021 and is expected to remain dominant during the forecast period. The significant share of the metallic segment is attributed to metals being the major materials for the construction of pipes owing to durability and corrosion resistance.

Based on the technology type, the pipeline monitoring system market is segmented as ultrasonic, PIG, electronics and semiconductors, coating, fiber optic technology, energy, and others. The ultrasonic segment accounted for the largest share by technology in 2021, owing to stringent regulations for the safety and security of pipelines coupled with pipeline upgradation and expansion. The segment is likely to lead the market during the forecast period as well.

Based on the solution type, the market is segmented as leak detection, operating condition, pipeline break detection, and others. The leak detection segment held the largest share of the market in 2021 and is expected to remain dominant during the forecast period. The significant share of the leak detection segment is attributed to huge investments in pipeline monitoring infrastructures by oil & gas companies.

Based on the end-use industry type, the pipeline monitoring system market is segmented as crude & refined petroleum, water & wastewater, and others. The crude & refined petroleum segment accounted for the largest share in 2021, owing to the higher stakes involved, and the segment is estimated to maintain its dominance during the forecast period as well.

In terms of regions, North America is estimated to be the largest market for pipeline monitoring systems during the forecast period. On the other hand, the Asia-Pacific market is expected to grow with a lucrative CAGR on account of the rapid construction of new pipelines in developing nations of the region, with China and India as the major growth engines.

COVID-19 IMPACT

The coronavirus pandemic affected almost all the sectors of the economy in 2020. Many businesses across the globe saw their supply chains interrupted, demand for their products and services decline, scarcities in supplies and inputs, etc.

While the majority of organisations had to face losses due to the pandemic, there are a few that have remained stable during this period and are projected to expand gradually in the future. The study on the Pipeline Monitoring System Market by Stratview Research provides a sneak peek into its business success in 2020 to upcoming 5 years.

Sneak peek into the Report:

This report focuses on the various types, segments, and growth in the Pipeline Monitoring System Market. It offers valuable insights into business dynamics and allows current and potential market participants to make strategic decisions.

The report also benchmarks the major parameters like -

• Industry Outlook
  • Market Segmentation & Value Chain Analysis
  • Industry Dynamics
  • Drivers
  • Restraints
  • Growth Opportunities
  • Regional Outlook
  • Country-level Analysis
  • Competitive Landscape
  • Company Market Share Analysis
  • Key Company Profiles/ Market Players

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