A leak is an opening for fluid so as to escape from a container or fluid-containing system, through which the contents of the container can flow away. Leaks are generally accidental and undesired. Growing concern for water conservation along with escalating demand for leak detection systems is propelling growth in the global market. The global leak detection market was valued at US$ 902.7 Mn in 2015 and is expected to reach US$ 1373.7 Mn by 2021
Pune, India -- (SBWIRE) -- 06/29/2018 -- The demand for cleaner emissions by government and environmental organizations has made the oil & gas companies to invest more in equipment's which are reliable yet costly. There are few challenges with the current leak detection technology, which hide the efforts of oil & gas companies that are trying to effectively mitigate leakage. The primary challenge with the current technology is that it should have the capacity to perform identification, quantification, localization and classification. However, this has led to low quality and demand of techniques, creating high competition in the global leak detection market.
The energy demand is on hike with social and economic development in the many countries globally. Oil and gas exploration and production are core activities of oil and gas industries. The purpose of exploration activity is to analyze commercially viable reserves of oil and gas. New technologies are providing diverse but uncertain opportunities for production activities in oil and gas in many parts of the world. Hence, the exploration and production activities are expected to increase and develop in the future, contributing to the growth in the leak detection market.
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The Fiber Optic Sensors is Projected to be the Dominant Segment During the Forecast Period, 2018-2026
Fiber Optic Sensor is one of the leak detection type, which is used for monitoring the leakage of pipeline as well as detects through temperature. The monitoring of temperature profiles over long distance by means of optical fibers, which represents a highly efficient way to perform leakage detection along pipelines. Due to its major properties such as, extended range, long-term stability, transportable system as well as cost effective for large no. of measurement points, that helps to view and analyze all its data with one single interface, which in turn favours the market to hold substantial position worldwide.
Emerging pipeline projects in Middle-East and Africa is driving the Leak Detection Market Growth
Currently, the Middle East and Africa region constitutes the maximum market for oil and gas pipeline leak detection, owing to vast network of pipeline, which is extending even further, due to a large number of planned projects for pipeline construction. For instance, in East Africa, Ugandan section of the pipeline are planned to installed with 230km of 33kV power cables and 296km of fibre-optic cables in near future as well as many new projects are lined up for installation. As a result, this region is projected for the best growth rate during the forecast period 208-2026.
Leak Detection Market is Fragmented with the Regional and Global Presence
Market participants include Siemens AG, Honeywell International Inc., Baker Hughes, Inc., Krohne Group, Schneider Electric, Ziebel A.S., Future Fibre Technologies Ltd., Fotech Solutions Ltd., Omnisens S.A., Silixa Ltd. Schlumberger Limited, TGT and amongst others. For instance, the Baker Hughes, Inc. is engaged in a wide range of business activities including drilling, well intervention, shale oil processing in regions around the world. Owing to which, the company's research and development expenses was US$ 15,742 Mn in year 2016. Also, Omnisens Vice president sales Baz Matvichuk, presented fibre optic based power cable and umbilical monitoring for the oil & gas industry covering various projects executed over the 17-year history of Omnisens. The benefits of real time monitoring discussed, and new innovations presented.
Major Key Player Includes:
Siemens AG, Honeywell International Inc., Baker Hughes, Inc., Krohne Group, Schneider Electric, Ziebel A.S., Future Fibre Technologies Ltd., Fotech Solutions Ltd., Omnisens S.A., Silixa Ltd. Schlumberger Limited
Leak Detection Market - By Technology
Fiber Optic Leak Detection, Distributed Temperature Sensing (DTS), Distributed Acoustic Sensing (DAS), Vapour Sensing Tubes, Enhanced Real-Time Transient Model (E-RTTM), Acoustic Pressure Waves
Market by Product Type
Flow Meters, Fiber Optic Sensors, Pressure Sensors
Market by Region
North America, U.S., Rest of North America, Europe, France, The UK, Spain, Germany, Italy, Rest of Europe, Asia Pacific, China, Japan, India, Southeast Asia, Rest of Asia Pacific, Middle East and Africa, GCC Countries, Southern Africa, Rest of Middle East and Africa, Latin America, Brazil, Rest of Latin America
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According to industry research reports, the oil and gas pipeline leak detection market is highly competitive and diverse, with many local and international suppliers around the world. The vast majority of major suppliers are increasingly focused on investing heavily in cutting-edge technology and product innovation due to changes in global oil and gas operations, with tougher landscapes of high pressure, high temperature, deep sea, extreme deep sea and arctic conditions.
Geographically, Americas has the majority of market share in 2016 and will continue to dominate the market for the next four years. One of the key drivers of market growth in this region is the increase in unusual oil and gas and petrochemical projects, mainly in the United States, Canada and Mexico.
The Leak Detection Market Report mainly covers following Content.
Chapter 1 Leak Detection Market Overview
Chapter 2 Global Economic Impact
Chapter 3 Competition by Manufacturer
Chapter 4 Production, Revenue (Value) by Region
Chapter 5 Supply (Production), Consumption, Export, Import by Regions
Chapter 6 Production, Revenue (Value), Price Trend by Type
Chapter 7 Analysis by Application
Chapter 8 Manufacturing Cost Analysis
Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers
Chapter 10 Marketing Strategy Analysis, Distributors/Traders
Chapter 11 Market Effect Factors Analysis
Chapter 12 Market Forecast
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