The global pipeline monitoring systems market was valued at US$4514 million in 2016, and is expected to reach US$7371 million by 2023.
Pipeline monitoring systems are used to provide quick and accurate online monitoring of internal and external corrosion activities in pipelines.
The pipeline monitoring systems market growth is driven by the increased oil and gas leakages, stringent government regulations concerning safety and monitoring, and growth in prevention of large storage tanks from natural disasters.
In addition, high investments made in pipeline infrastructure are expected to propel the pipeline monitoring systems market growth. However, political instability is expected to hamper the pipeline monitoring systems market growth.
Pipeline monitoring systems are used to collect samples without production of hazardous waste and thus take precautionary measures for both onshore and offshore oil fields.
The global pipeline monitoring systems market is segmented on the basis of pipe, technology, end user, and geography. Based on pipe type, itis bifurcated into metallic and non-metallic pipe.
By technology, it is categorised into ultrasonic testing, pipeline inspection gauges (PIGs), smart ball, magnetic flux leakage technology, and others.
The pipeline monitoring systems market is analysed across four regions, namely, North America, Europe, Asia-Pacific, and LAMEA. North America is expected to dominate the global market during the analysis period, due to the presence of large number of pipeline networks.
Companies mentioned include:
- Orbcomm Inc.
- Transcanada Company.
- PSI AG.
- Pure Technologies.
- Honeywell International Inc.
- Siemens AG.
- Huawei Technologies Co. Ltd.
- BAE Systems, Inc.
- Pentair PLC.
Read the article online at: https://www.worldpipelines.com/equipment-and-safety/14082017/new-pipeline-monitoring-systems-report-published/