According to recently published Azoth Analytics’ report ‘US Oil and Gas Pipeline Leak Detection System (LDS) Market: Trends, Opportunities and Forecasts (2015-2020) - By Region, By Application - Offshore & Onshore, By Equipment - Flowmeters, Pressure Sensors, Fibre Optics’, the leak detection system market in the US is forecast to grow at a CAGR of more than 0.37% during 2015 - 2020, on account of rising pipeline projects and increasing oil and gas production in the country. Moreover, stringent government policies are further going to minimise impact of leakage on environment.
In addition, expansion plans and investments are anticipated to boost the US oil and gas pipeline leak detection market during 2015 - 2020. In terms of segmentation, market is categorised on basis of applications (onshore and offshore), equipment (flowmeters, pressure sensors, fibre optic sensors and other types of leak detectors).
Although, Southeast region is anticipated to lead the revenue contribution to the oil and gas leak detection market, the Northeast region is also expected to witness a higher growth rate till 2020. With the industry witnessing robust expansion plans, it is anticipated that the leak detection market will exhibit higher CAGR in the forecast period as well. Entry of new players in current oligopolistic market scenario and increasing oil and gas pipeline investment in the various parts of the country is anticipated to make the industry more competitive and dynamic.
The report has analysed the potential of leak detection market and provides statistics and information on market size, shares and trends.
The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. The report also identifies and analyses the emerging trends along with major drivers, challenges and opportunities in the US oil and gas pipeline leak detection market. Additionally, the report also highlights emergent market entry strategies for various companies across the globe.
Edited from various sources by Stephanie Roker
Read the article online at: https://www.worldpipelines.com/business-news/09122015/pipeline-lds-market/