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New report provides pipeline leak detection forecast

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World Pipelines, provides regional leak detection system market reports focusing on oil and gas pipeline industry in the US and Europe, offering 2020 - 2021 forecasts as well as an outlook on the competitive scenario of these regions.

The US oil and gas pipeline leak detection market is growing at a moderate rate over last five years on account of rising expenditure of pipeline companies on maintenance of the ageing pipelines in the country and escalating role of government in empowering usage of leak detection measures to avoid disastrous leakage.

During 2015 - 20, the US oil and gas pipeline leak detection market is anticipated to grow at an increased rate on account of robust expansion plans of the new pipeline projects coupled with newly found shale reserves. Moreover, increase in number of pipelines with newly proposed plans of oil and gas transmission is further anticipated to boost the overall leak detection system market in the coming years.

According to research report ‘US Oil and Gas Pipeline Leak Detection System (LDS) Market: Trends, Opportunities and Forecasts (2015-2020)’, the oil and gas pipeline leak detection system market in the US is projected to exhibit a CAGR of over 0.37% during 2015 - 2020. On the basis of technology market is segmented into various types of internal and external leak detectors. Traditional leak detectors such as flow meters and pressure sensors are anticipated to grow the market of oil and gas leak detectors in the next five years. However, these are anticipated to lose their share to relatively new leak detectors such as fibre optics and acoustic sensors. Southeast region dominated the revenue contribution share in 2014 and the region is forecast to continue its domination through 2020. Few of the leading companies operating in oil and gas pipeline leak detection market in the US include Synodon Inc., Enbridge Inc., Omega Technologies and Perma-Pipe Inc.

Read the complete report here.

Edited from source by Stephanie Roker

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