Pipeline Monitoring Systems Market Outlook- 2023

Pipeline Monitoring Systems Market Overview:

The Global Pipeline Monitoring Systems Market size was valued at $4,514 million in 2016, and is expected to reach at $7,371 million by 2023, registering a CAGR of 7.5% from 2017 to 2023.

The factors that drive the global pipeline monitoring systems industry include growth in leakages in oil & gas industry, government regulations for safety and monitoring, and the need to prevent large storage tanks. In addition, investments made by governments in pipeline infrastructure are expected to boost the pipeline monitoring systems market growth. However, political instability is expected to hamper the pipeline monitoring systems market growth.

The rise in concerns about pipeline security has led to increased expenditure for reliable and authentic monitoring networks by oil & gas companies. Moreover, enhanced adoption of pipelines globally is expected to result in increase in market size by 2022.

The global pipeline monitoring systems market is segmented on the basis of pipe, technology, end user, and geography. Based on pipe, it is divided into metallic pipe and non-metallic pipe. By technology, it is classified into ultrasonic, smart ball, magnetic flux leakage technology, pipeline inspection gauges (PIGs), and others. Based on end user, it is categorized into petroleum, water & wastewater, and others. The pipeline monitoring systems market is analyzed across four regions, namely, North America, Europe, Asia-Pacific, and LAMEA. In addition, rapid development in food & beverage and oil & gas sectors in the emerging areas of Asia-Pacific offers development potential outcomes for market players. Thus, the region is anticipated to grow at the highest rate by 2023.

The report includes comprehensive analysis of the key players in the market such as Orbcomm Inc., Transcanada Company, PSI AG, Pure Technologies, Honeywell International Inc., Perma Pipe Inc., Siemens AG, Huawei Technologies Co. Ltd., BAE Systems, Inc., and Pentair PLC.

The other prominent players in the pipeline monitoring systems market include Atmos International, Clampon AS, ABB Group, Future Fibre Technologies, Senstar Inc., Syrinix, Radiobarrier, TTK, Krohne Group, and Thales Group.

Segment Overview

Ultrasonic testing in the pipeline monitoring systems market technology generated the highest revenue in 2016, and is one of the most commonly used technologies in the industry. Ultrasonic technique examines wall thickness in the pipe work. However, smart ball technology is expected to grow at the highest rate during the forecast period as it locates and identifies leakage and air pockets in water & wastewater industry.

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