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“Pipeline monitoring systems market projected to grow at a CAGR of 7.1%”
The pipeline monitoring systems market size is projected to grow at a CAGR of 7.1% during the forecast period of 2016–2026 and reach USD 8.72 billion by 2026. The pipeline monitoring systems market is growing as it is a single system that detects small leaks or damages securely and reliably while simultaneously monitoring for third-party interference and other external pipeline threats to prevent leaks altogether. Other factors such as increased number of oil & gas leakages in production, pipelines, and storage tanks due to natural disasters and high pressure along with stringent government regulations for pipeline safety and security and expansion and upgradation of pipelines are driving the growth of the pipeline monitoring systems market. However, factors such as limited awareness about monitoring implementation and low funds are expected to limit the market growth.
“Metallic pipes segment, by pipe type, is estimated to be the fastest-growing during the forecast period”
The metallic pipes segment, by pipe type, is projected to grow at the highest rate through 2026. These pipes are predominantly preferred over other pipe types due to their high strength, irrespective of the liquids that they will carry. Metallic pipes are most widely used for monitoring systems, due to their high strength; thus making them the fastest-growing type of pipe in the pipeline monitoring systems market.
“North-America region accounted for the largest market share in 2015”
In 2015, North America accounted for the largest market share of the total pipeline monitoring systems market followed by Europe and Asia-Pacific. This is because of the continuous increase in oil & gas exploration & production activities in this region. The Asia-Pacific region is projected to grow at the highest CAGR between 2016 and 2026, with China registering the highest growth rate in the region. Emerging economies such as India, Russia, Brazil, and countries in the Middle East are projected to grow at moderate CAGRs between 2016 and 2026.
Breakdown of Primaries
Primary interviews were conducted with a number of industry experts in order to collect data related to different aspects of the pipeline monitoring systems market. Estimates reached after analyzing secondary sources were validated through these interviews. Primary sources included industry experts from core and related industries and preferred suppliers, manufacturers, distributors, technologists, service providers, standards & certification organizations, and organizations related to all segments of this industry’s value chain. The distribution of primary interviews is as follows:
- By Company Type: Tier 1 – 33%, Tier 2 – 50%, and Tier 3 – 17%
- By Designation: Director Level – 33% and Manager Level – 67%
- By Region: North America – 8%, Europe – 17%, Asia-Pacific – 50%, MEA – 17%, and Latin America – 8%
Note: The tier of the companies is defined on the basis of their total revenue, as of 2015.
Tier 1: Revenue > USD 10 billion; Tier 2: USD 1 billion > Revenue > USD 10 billion; Tier 3: Revenue < USD 1 billion
The various key players profiled in the report are as follows:
1. ORBCOMM Inc. (Rochelle Park, NJ, U.S.)
2. Transcanada (Calgary, Canada)
3. PSI AG (Berlin, Germany)
4. Pure Technology Ltd. (Calgary, Canada)
5. Honeywell International Inc. (Morris Plains, NJ, U.S.)
6. Perma Pipe Inc. (Niles, U.S.)
7. Siemens AG (Munich, Germany)
8. Huawei Technologies Co Ltd. (Shenzhen, China)
9. Bae Systems Inc. (London, U.K.)
10. Pentair plc. (Greater Manchester, U.K.)
The primary objective of the study is to define, segment, and project global pipeline monitoring systems market on the basis of pipe type, technology, application, end-use industry, and region. The study also aims at strategically analyzing micromarkets with respect to individual growth trends, future prospects, and their contribution to the total market. It also provides detailed information about the main factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges). In addition to this, the study analyzes competitive developments such as partnerships; mergers & acquisitions; expansions; new product developments; and research & development activities in the pipeline monitoring systems market.
Reasons To Buy the report
The report will help the market leaders/new entrants in this market in the following ways:
- This report segments the pipeline monitoring systems market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the sub-segments across the different verticals and regions.
- The report helps stakeholders to understand the market and provides them information on key market drivers, restraints, opportunities, and challenges.
- This report will help stakeholders to better understand their competitors and gain more insights into their position in the business.
- The competitive landscape section includes new product developments, acquisitions, agreements, partnerships, and expansions.