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Pipeline Monitoring System Market Worth $26.72 Billion by 2030: Grand View Research, Inc.

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Grand View Research, Inc

15 Dec, 2022, 10:35 GMT

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SAN FRANCISCO, Dec. 15, 2022 /PRNewswire/ -- The global pipeline monitoring system market size is expected to reach USD 26.72 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to expand at a CAGR of 7.7% from 2022 to 2030.

Key Industry Insights & Findings from the report:

  • Oil and gas manufacturers are adopting monitoring systems to reduce wastage, minimize environmental footprint, and ensure safety.
  • The adoption of leak detection systems has ensured safety, feasibility, real-time analysis, and improved performance owing to the improved pipeline infrastructure.
  • The pipeline monitoring systems are utilized to locate corrosion, flow constrictions, and liquid accumulations and collect samples by evaluating risk and bacteriological control programs.
  • The monitoring/detection systems provide accurate real-time monitoring of internal corrosion, gasses, fluids, and oil contamination.
  • The acoustic/ultrasonic segment is expected to dominate the market and expand at a CAGR of 6.8% from 2022 to 2030.
  • The metallic pipeline monitoring system segment is projected to grow at the highest CAGR of 8.1% over the forecast period.
  • The leak detection application is expected to dominate the market and expand at a CAGR of 7.2% from 2022 to 2030.
  • The oil & gas industry is anticipated to grow at the highest CAGR of 8.2% over the forecast period.
  • The primary source markets for pipeline monitoring systems are the U.S., Saudi Arabia, China, India, the U.K., Canada, Germany, Brazil, France, and Mexico. The U.S. will be the primary source market for pipeline monitoring system companies. The advanced pipeline infrastructure and advanced technologies integrated within the pipelines are influencing the campaigns aimed at this market to have the most significant impact.

Read 100-page market research report for more Insights, "Pipeline Monitoring System Market Size, Share & Trends Analysis Report By Technology, By Pipe Type, By Application, By Industry Vertical, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Pipeline Monitoring System Market Growth & Trends

The pipeline monitoring systems are utilized to locate corrosion, flow constrictions, and liquid accumulations and collect samples by evaluating risk and bacteriological control programs. The pipeline monitoring systems are generally employed within the following applications: plants & refineries, refined products, wet gas & crude pipelines, water & wastewater, offshore platforms, and pipeline terminals. The monitoring/detection systems provide accurate real-time monitoring of internal corrosion, gasses, fluids, and oil contamination.

The industry's growth is attributed to the increasing installations of pipelines utilized for the transportation and distribution of oil and gas supplies globally. Moreover, the growing cases of leakage due to corrosion within pipelines propel the demand for pipeline monitoring systems. The installation of pipeline monitoring/detection systems has reduced geo-hazards, thefts, internal leakage, and ruptures. Furthermore, the advent of pigging technology within existing and new pipelines are positively influencing the growth of the market.

Advancing technological aspects within pipeline infrastructure, such as Human Machine Interface (HMI), Distributed Vibration Sensing (DVS)/Distributed Acoustic Sensing (DAS), Distributed Temperature Sensing (DTS), and Programmable Logic Controller (PLC), have strengthened the downstream process monitoring capabilities, intuitive interface software, and detection algorithms. The improving technological solutions integrated within monitoring systems have significantly propelled the growth of the market.

Oil and gas manufacturers are rapidly adopting monitoring systems to reduce wastage, minimize environmental footprint, and ensure safety. The adoption of leak detection systems has ensured safety, feasibility, real-time analysis, and improved performance owing to the improved pipeline infrastructure. Manufacturers employ hardware- and software-based methods classifying leakage detection systems into three primary groups: internal, external, and non-technical methods. The detection/monitoring methods comprise ground penetration radar, pressure point analysis, fiber optic sensor, negative pressure wave, acoustic emission, and dynamic modeling.

The COVID-19 pandemic has highly affected the oil & gas industry, restraining the transportation and distribution of oil and gas. The setback of the oil and gas industry has also affected the development of the pipeline monitoring system industry. This impact resulted in the prolonged refining of petroleum & crude and temporarily halted the consumption of oil & gas in large volumes. The pandemic also resulted in delayed project completion due to the lack of workforce due to the pandemic restrictions enacted globally. Moreover, the pandemic also influenced the prices of crude oils, making them highly volatile.

A few companies working in space tourism are ABB Ltd., Emerson Electric Co., Generic Electric Co., Honeywell International Inc., QinetiQ Group Plc, Huawei Investment and Holding Co. Ltd., ORBCOMM Inc., Rockwell Automation Inc., Siemens AG, and Schneider Electric SE. For instance, in April 2021, ABB Ltd. announced the launch of its Mobile Gas Leak Detection System, which is a cloud-connected Unmanned Aerial Vehicle (UAV)-based system: HoverGuard. The UAV-based gas leak detection system quantifies greenhouse gases, such as carbon dioxide, methane, & water vapors, and sends a quick response with precision, and provides accurate information on complex environmental processes that cause pollution.

Pipeline Monitoring System Market Segmentation

Grand View Research has segmented the global pipeline monitoring system market based on technology, pipe type, application, industry vertical, and region

Pipeline Monitoring System Market - Technology Outlook (Revenue, USD Million, 2017 - 2030)

  • PIGs
  • Smart Ball
  • Acoustic/Ultrasonic
  • Magnetic Flux Leakage Technology
  • Fiber Optic Technology
  • Mass Volume/Balance
  • LIDAR
  • Vapor Sensing
  • Others (Beta Foil Technology and Leo Technology)

Pipeline Monitoring System Market - Pipe Type Outlook (Revenue, USD Million, 2017 - 2030)

  • Metallic
  • Non-metallic
  • Others

Pipeline Monitoring System Market - Application Outlook (Revenue, USD Million, 2017 - 2030)

  • Leak Detection
  • Operating Condition
  • Pipeline Break Detection
  • Others

Pipeline Monitoring System Industry Vertical Outlook (Revenue, USD Million, 2017 - 2030)

  • Oil & Gas
  • Water & Wastewater
  • Others

Pipeline Monitoring System Market - Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • Russia
    • Norway
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Qatar

List of Key Players in the Pipeline Monitoring System Market

  • ABB Ltd.
  • Emerson Electric Co.
  • Generic Electric Co.
  • Honeywell International Inc.
  • Huawei Investment and Holding Co. Ltd.
  • ORBCOMM Inc.
  • QinetiQ Group Plc
  • Rockwell Automation Inc.
  • Schneider Electric SE
  • Siemens AG

Check out more related studies published by Grand View Research:

  • Smart Home Hardware Market - The global smart home hardware market size was estimated to reach USD 50,272.7 million by 2028 and is expected to expand at a CAGR of 12.7% from 2022 to 2028, according to a new report by Grand View Research, Inc. The increasing consumer focus on home security devices is the key factor that drives the growth of the smart home hardware Industry. In addition, growing demands for energy-efficient appliances also drive the smart home hardware market. However, high costs incurred for the installation and maintenance of smart home hardware are limiting the adoption among consumers is the major restraint for the smart home hardware market. Most of the key players operating in the market are adopting a strategy of new product development to fulfill the growing needs and to capture maximum market share globally.
  • Vacuum Cleaner Market - The global vacuum cleaner market size is expected to reach USD 26.4 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 9.8% from 2022 to 2030. The growing per capita income in developing countries is one of the key factors leading to the increased consumer demand for advanced vacuum cleaners. Moreover, the COVID-19 pandemic has made people pay more attention to cleanliness and hygiene to maintain a sense of safety in private and public spaces. This is estimated to drive the market over the next few years. For instance, in November 2021, Kent RO Systems Ltd. launched a zoom vacuum cleaner with a bagless and cordless design. The vacuum cleaner has a cyclonic technology with a 130W suction motor to properly clean all the dirt and dust. Further, it also has a HEPA filter to prevent air pollution and maintain hygiene and clean surroundings.
  • Laser Processing Market - The global laser processing market size is expected to reach USD 38.22 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 9.1% from 2022 to 2030. The rising utilization of expensive laser-drilling techniques for oil and gas exploration purposes is projected to substitute the traditional methods. Decreasing drilling costs are anticipated to increase the feasibility of uneconomic oil deposits, thus positively impacting the market growth. The growing need for this type of processing in industrial solar modules is further expected to fuel the market growth.

Browse through Grand View Research's Electronic Devices Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: +1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com   
Web: https://www.grandviewresearch.com   
Grand View Compass | Astra ESG Solutions    
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