Pipeline Monitoring System Market size Is Expected To Grow At A CAGR Of 7% By 2027 :
Market research future published a half cooked research report on Pipeline Monitoring System Market size . The global market for Pipeline Monitoring System Market size is expected to grow over the CAGR of 7% approximately during the period 2017 to 2023.
The Pipeline Monitoring System Market size is expected to grow during the forecast period owing to increase in number of oil gas leakages in production, pipelines, and storage tanks caused by the natural disasters and high pressure in the pipelines. The introduction of stringent government regulations for pipeline safety and security and the rapid expansion and up gradation of pipelines is further contributing to the of the market. The of pipeline monitoring systems is further contributed by the development of new devices and solutions for the monitoring of pipeline performance, optimization of resources, automating the functions, and safeguarding the operations.
Scope of the Report:
This study provides an overview of the Pipeline Monitoring System Market size , tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the Pipeline Monitoring System Market size by its type, technology, application and region.
The key players of Pipeline Monitoring System Market size report includes ABB (Switzerland), Emerson (U.S.), Honeywell International (U.S.), Schneider Electric (France), Siemens AG (India), Badger Meter (U.S.), Bentek Systems Ltd. (Canada), General Electric (U.S.), HollySys Automation Technologies (China) and Inductive Automation (U.S.) among others.
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Market Research Analysis:
Based on technology, the ultrasonic testing segment is expected to dominate the market owing to its increased use by the oil and gas companies for detecting the small and large leakages. The small ball technology is also expected to grow and the of this technology can be attributed to the effective utilization of these balls through pipelines with long inspection capability from single deployment.
On the basis of application, the leak detection segment is expected to grow at the highest CAGR owing to the increase in focus on improving the control over pipeline infrastructure and automation of the process for improving the productivity, which would enable the monitoring of conditions of assets and alert the authorities in case of unauthorized events. The increase in investments by the oil gas companies in pipeline monitoring infrastructures and safe transportation of the material through it is also fuelling the of the leak detection systems in the market.
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Rest of the World
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