DUBLIN, Apr. 11, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Global Leak Detection Market for Oil and Gas Industry 2017-2021" report to their offering.
The global leak detection market for oil and gas industry to grow at a CAGR of 7.35% during the period 2017-2021.
The report, Global Leak Detection Market for Oil and Gas Industry 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One trend in market is technology improvement in methane leak detection. Methane is the primary component of natural gas. It is emitted in the atmosphere at multiple stages of the oil and gas industry in many ways, and one such way is through pipeline leaks. This is a major challenge for the oil and gas industry as methane is 80 times more powerful than carbon dioxide in causing greenhouse gas emissions. It is also a challenge as it is a product loss for the industry. The small leaks if detected can have a major impact on the cost savings as well as reduction of incidents. It is a challenge to detect methane leaks, which are as low as 2 ppm.
According to the report, one driver in market is aging pipeline infrastructure. If properly maintained, the fuel pipelines can operate for 40 to 50 years. However, as they start aging the problem of corrosion starts. The aging pipelines are more prone to corrosion, which makes them more liable to leakage. Hence, they require leak detection systems to closely monitor and limit leakages to avoid accidents. The aging pipelines worldwide are currently leading the demand for the leak detection systems. The US exhibits strong demand due to its vast aging oil and gas pipeline infrastructure with more than two-third of the fuel pipelines in the US dating back to 1970. There have been recent disruptions in the operations of these pipelines due to gas and oil leaks. In a recent disruption of the Colonial Pipeline Company, the operations were shut for almost two weeks in September 2016. This has impacted with an increase in fuel oil prices by 20 cents.
- Pure Technologies
Other Prominent Vendors
- Atmos International
- EnTech Engineering
Key Topics Covered:
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by product
PART 07: Market segmentation by end-users
PART 08: Geographical segmentation
PART 09: Decision framework
PART 10: Drivers and challenges
PART 11: Market trends
PART 12: Vendor landscape
PART 13: Key vendor analysis
For more information about this report visit http://www.researchandmarkets.com/research/ptvddr/global_leak
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SOURCE Research and Markets