North America accounts for largest share in global oil and gas pipeline leak and theft detection market, on account of stringent government regulations in the region to implement leak detection systems in oil and gas pipelines and major investments in replacing ageing pipeline infrastructure.
Moreover, increasing production capacities of countries such as the US and Canada is expected to further aid growth in oil and gas pipeline leak and theft detection market in the coming years. Pipeline infrastructure in the region is continuously expanding, and hence positively influencing North America oil and gas pipeline leak and theft detection market.
According to the report, ‘North America Oil & Gas Pipeline Leak and Theft Detection Market, Competition Forecast & Opportunities, 2012 - 2022’, the North American pipeline leak and theft detection market is projected to reach $2.17 billion by 2022.
The United States was the leading demand generator in the market, given relatively it's large population and interest in new pipeline projects such as the Keystone pipeline. Some of the leading players in the North American oil and gas pipeline leak and theft detection market include Honeywell International Inc., FMC Technologies, Cameron International, Emerson Process Management, GE Oil & Gas, Agilent Technologies and Cisco Systems Inc.
Read the full report here.
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