The Pipeline Monitoring System by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Pipeline Monitoring System, The pipeline monitoring system market size has grown strongly in recent years. It will grow from $15.06 billion in 2023 to $16.33 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to rise in pipeline expansion projects, incident prevention, infrastructure aging, risk management, operational optimizationenvironmental awareness.
The pipeline monitoring system market size is expected to see strong growth in the next few years. It will grow to $22.42 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to big data analytics, iot integration, climate change adaptation, cybersecurity focus, global energy transition. Major trends in the forecast period include advanced analytics and ai, remote monitoring and control, cybersecurity measures, integration of drones and uavspredictive maintenance, environmental monitoring.
The growth of pipeline infrastructure is expected to propel the growth of the pipeline monitoring system market going forward. Pipeline infrastructure refers to a category of infrastructure that encompasses all related infrastructure, including all privately, publicly, or cooperatively owned lines, facilities, or systems for transmitting or distributing gas, oil, and petroleum products, as well as other comparable goods or substances that either directly or indirectly serve the public. Pipeline monitoring systems help the pipeline infrastructure by developing IoT sensors to promote monitoring solutions, alerting pipelines, and dispatching technicians to pinpoint locations. For instance, in May 2021, according to a research report issued by Australia and New Zealand Banking Group Limited (ANZ), an Australian-based banking and financial services company, Australia’s major infrastructure project pipeline ramped up with an increase of up to $21 billion year-on-year in 2021–22 alone. In Australia, 600 kilometers of pipeline were being constructed, with an additional 12,200 kilometers of infrastructure being considered, the total cost of this work was $18.6 billion. In addition, by 2022–23, the potential investment pipeline swells to almost $93 billion, including the $90 billion Job Keeper program. Further, Australia’s construction boom coincides with $485.8 billion in pipeline development activity worldwide, consisting of 408 new pipelines, of which 70,900 km were being built and additional 122,500 km planned. Therefore, the growth of the pipeline infrastructure is driving the market for pipeline monitoring systems.
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The pipeline monitoring system market covered in this report is segmented –
1) By Type: Metallic, Non-Metallic, Concrete Pipes, Asbestos Cement Pipes
2) By Technology: Ultrasonic, PIG (Pipeline Inspection Gauge), Small Ball, Magnetic Flux Leakage, Fiber Optic, Other Technologies
3) By Application: Operating Efficiency, Leak Detection, Pipeline Break Detection
4) By End-User: Oil And Gas, Water And Wastewater, Other End-Users
Technological advancements have emerged as a key trend gaining popularity in the pipeline monitoring system market. Major companies operating in the pipeline monitoring system market are focused on innovating new technologies to sustain their position in the market. For instance, in April 2021, ABB Ltd., a Switzerland-based digital technologies provider, launched the world’s fastest and most sensitive drone-based gas leak detection system, called Mobile Gas Leak Detection System, HoverGuard. The innovative system rapidly, safely, and accurately finds, measures, and maps leaks up to 100 meters away from the natural gas transmission and distribution pipelines, collecting lines, storage areas, and other possible causes. After a survey, it instantly creates precise digital reports that summarize the results and may be shared. HoverGuard is a significant advancement for the environment and in the detection of gas leaks.
The pipeline monitoring system market report table of contents includes:
1. Executive Summary
2. Pipeline Monitoring System Market Characteristics
3. Pipeline Monitoring System Market Trends And Strategies
4. Pipeline Monitoring System Market – Macro Economic Scenario
5. Global Pipeline Monitoring System Market Size and Growth
6. Pipeline Monitoring System Market Segmentation
7. Pipeline Monitoring System Market Regional And Country Analysis
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27. Pipeline Monitoring System Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Pipeline Monitoring System Market
29. Pipeline Monitoring System Market Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- ABB Ltd.
- Emerson Electric Company
- Honeywell International Inc.
- Huawei Investment & Holding Co. Ltd.
- ORBCOMM Inc.
- Siemens AG
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