Pipeline Monitoring System Market 2022 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030

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The global pipeline monitoring system market is expected to expand at a compounded annual growth rate (CAGR) of 7.5% during the forecast period of 2022-2030.

Pipeline monitoring systems are systems used for monitoring pipelines that transport gases and liquids such as oil & gas, water, and wastewater. These pipelines are laid in harsh and hazardous conditions & areas and thereby need a continuous and accurate pipeline monitoring system to detect leakages, damages, and pipeline failures as they may lead to critical ecological and economic consequences. The monitoring systems evaluate corrosion and bacteriological control programs in pipelines and collect data for pipeline risk evaluation and integrity monitoring to comply with regulatory monitoring requirements.

Growth Drivers:

Factors such as the rapidly burgeoning demand for pipeline monitoring systems across the crude & refined petroleum and water & wastewater industries; the escalating number of oil & gas leakages in production, pipelines, and storage tanks due to natural disasters and high pressure; the increasing awareness regarding the significance of pipelines networks; the surging need to detect & prevent small leaks or damages; and the growing number of underwater & underground pipelines and oil and gas production activities across the globe are primarily driving the growth of the global pipeline monitoring system market.

Additionally, the pipeline monitoring system market players are seen to be putting major emphasis on the development and introduction of more advanced and efficient pipeline monitoring systems along with new devices and solutions for monitoring pipeline performance and securing the operations in the process. This growth in the trend of upgradation of existing pipeline monitoring systems and the introduction of new solutions is expected to bring considerable growth to the market during the forecast period.

Moreover, the number of stringent rules and regulations pertaining to the mandatory usage and maintenance of pipeline monitoring systems to avoid leaks in oil & gas and protect the environment is increasing all over the globe. An example of this could be the performance standards implemented by The Environmental Protection Agency (EPA) (US) for oil & natural gas emissions for hazardous pollution and explosions caused by leakage of oil & gas. This rising number of stringent rules and regulations for the compulsory usage & maintenance of pipeline monitoring systems will robustly aid in the expansion of the global pipeline monitoring system market during the forecast period.

Furthermore, other factors such as the rising globalization and industrialization and the growing investments in oil & gas exploration and discovery activities across major parts of the globe are further expected to bring about tremendous growth to the global pipeline monitoring system market during the forecast period.

However, the dearth of awareness regarding monitoring system implementation among operators, the high cost of capital and maintenance associated with the system, and the lack of funding for development of the aging infrastructure in the merging and underdeveloped nations are expected to restrain the growth of the market to some extent during the forecast period.

Pipeline Monitoring System Market Segmentation:

By Pipe Type:

o   Metallic

o   Non-Metallic

o   Others

o   Concrete Pipes

o   Asbestos Cement Pipes

 

By Solution:

·         Leak Detection

·         Pipeline Break Detection

·         Operating Condition

·         Others

 

By Technology:

·         Ultrasonic

·         PIGs

·         Smart Ball

·         Magnetic Flux Leakage

·         Fiber Optic Technology

·         Others

 

By End-use Industry:

·         Crude & Refined Petroleum

·         Water & Wastewater

·         Others

 

By Region:

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East and Africa


Based on pipe type, the metallic segment held the largest share of the global pipeline monitoring system market in 2021. The segment is anticipated to further retain is dominance and grow at the highest rate in the market during the forecast period. The high usage of metallic pipes in pipeline monitoring systems due to their high strength & durability and their ability to be more conducive to heat and less corrosion-resistant compared to non-metallic pipes can be ascribed to the large market share of this segment.

Based on end-use industry, the crude & refined petroleum segment accounted for the largest share of the global pipeline monitoring system market in 2021. The trend is expected to remain unchanged over the forecast period due to the augmenting demand for pipeline monitoring system in crude & refined petroleum industry as result of the growing oil & gas pipelines across the world.

Based on technology, the ultrasonic segment dominated the global pipeline monitoring system market in 2021. The segment is estimated to further continue with its lead in the market during the forecast period. However, the PIGs segment is projected to register the highest growth in the market during the forecast period. These two segments' large market share and growth can be attributed to their high demand among their end-users.

Based on solution, the leak detection segment acquired the largest share of the global pipeline monitoring system market in 2021. The segment’s position is predicted to remain unchanged during the forecast period owing to the soaring investments in pipeline monitoring infrastructures by oil & gas companies and the growing emphasis on enhancing control over pipeline infrastructures.

Regional Outlook:

The North American region captured 35.0% market share and dominated the global pipeline monitoring system market in 2021, followed by Europe and Asia-Pacific. The region is expected to further maintain its lead in the market during the forecast period. Factors attributed to the large share and growth of the market include; the surging demand for pipeline monitoring systems; the rising oil & gas exploration & production activities; the escalating emphasis on the prevention of disasters due to the growing number of pipelines; and the high product innovation in the region. The U.S., Canada, and Mexico are the major contributors to the market's growth in the region.

 

The Asia Pacific region is estimated to register the highest CAGR in the market during the forecast period of 2022-2030. The growth of the market in the region can be ascribed to the growing incidents of oil and gas leakages in pipelines and storage tanks at production facilities; the increasing construction of new pipelines; the rising investments in oil & gas and water & wastewater pipeline; the increasing implementation of stringent regulations by the governments for the installation of leak detection technologies and systems; and the expanding end-user industries in the region. India, China, Japan, Singapore, and Indonesia are the major contributors to the growth of the market in the region.

 

The Middle East & Africa and the Latin America region accounted for the least market shares in 2021. However, the market in the aforementioned regions is predicted to grow at a substantial growth rate over the forecast period on account of the rising investment in offshore exploration activities by the emerging economies present in the regions.

 

Key Companies in Pipeline Monitoring System Market:

·         Huawei Technologies Co. Ltd.

·         BAE Systems

·         Honeywell International Inc

·         PSI AG

·         Siemens AG

·         ABB group

·         Schneider

·         GE

·         Perma Pipes

·         TransCanada Pipelines Ltd.

·         Orbcomm Inc.

·         Pentair PLC

·         Atmos International

·         Senstar Inc.

·         Syrinix

·         Future Fiber Technologies

·         Pure Technologies

·         C-Fer Technologies

·         Other Players

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