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New: pipeline leak detection equipment market report

Published by
World Pipelines,


Transparency Market Research has released a new market report. According to the report, the global oil and gas pipeline leak detection equipment market was valued at US$2.02 billion in 2015 and is expected to reach US$3.65 billion by 2024, expanding at a CAGR of 6.8 % from 2016 to 2024.

Transparency Market Research has released a new market report titled ‘Oil and Gas Pipeline Leak Detection Equipment Market (Technology- Mass-Volume Balance, Acoustic/Ultrasonic, Fibre Optics, Vapour Sensing, Others), (Location- Onshore, Offshore), (Equipment Type- Flowmeters, Acoustic Sensors, Cable Sensors, Others) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2016-2024.’ 

Oil and gas pipeline leak detection equipment is installed in oil and gas pipelines for detecting leakages in it. Stringent environmental regulations and increasing losses to business due to leakages have forced the pipeline operators to install these equipment for better detection. Oil and gas pipeline leak detection equipment performance is analysed on the parameters of reliability, accuracy and amount of time required to detect leak in the pipeline.

On the basis of technology the oil and gas pipeline leak detection equipment market can be segmented into mass-volume balance, acoustic/ultrasonic, fibre optics, vapour sensing, and others. Mass-volume balance accounted for approximately 40% of the global oil and gas pipeline leak detection equipment market and is forecasted to hold a dominant share during the forecast period. The large number of ageing pipelines globally which are more prone to leakages is expected to propel the market for oil and gas pipeline leak detection equipment during the forecast period.

Based on location the oil and gas pipeline leak detection equipment market can be divided into onshore and offshore. Onshore segment dominated the global oil and gas pipeline leak detection equipment market in 2015 and is predicted to hold a significant share during the forecast period. With large number of planned and under-construction oil and gas pipelines in the world the oil and gas pipeline leak detection equipment is likely to grow at a healthy rate during the forecast period.

Based on equipment type the oil and gas pipeline leak detection equipment market can be classified into flowmeters, acoustic sensors, cable sensors, and others. Flowmeters held significant share in global oil and gas pipeline leak detection equipment market in 2015 and is projected to hold a sizable share during the forecasted period. The increasing demand for more reliable and quicker leak detection equipment among the pipeline operators is anticipated to boost the demand for oil and gas pipeline leak detection equipment.

North America dominated the oil and gas pipeline leak detection equipment market followed by Europe. Middle East and Africa is anticipated to grow fastest during the forecast period followed by Asia Pacific.

The key players of oil and gas pipeline leak detection equipment market include Siemens AG, PSI AG, KROHNE Messtechnik GmbH, Honeywell International Inc., Schneider Electric SE, ATMOS International, Perma-Pipe Inc., Pentair Thermal Management, FLIR Systems Inc., Pure Technologies Ltd., TTK-Liquid Leak Detection Systems, and AREVA NP.

Read the article online at: https://www.worldpipelines.com/business-news/05072017/new-pipeline-leak-detection-equipment-market-report/

 

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