Pune, India -- (SBWIRE) -- 03/15/2019 -- By adopting a highly effective leak detection technique, which can monitor the leaks accurately, is one of the factor driving the growth of the market, where the risks of leakages can be controlled. Some of the potential benefits of leak detection techniques are: improved environmental quality and reduced risk of contamination, early detection of leaks, which in turn helps in reducing cost, these are the few factors helping the leak detection market to fuel the growth in future.

According to the research report, the growing Leak Detection market is likely to boost the global market substantially over the forthcoming years. Apart from this, the increasing number of driving is projected to add to the growth of this market significantly in the near future. The worldwide market is analyzed on the basis of the various segments and the geographical reach of this market. How the market's segments are propelling the market in the market scenario is mentioned in this report. The continual rising factors boosting the demand for Leak Detection market notes the research study.

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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.

Some of the leading participants profiling in this market: 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

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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 fiber-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.

Market segment by Type:
o Flow Meters
o Fiber Optic Sensors
o Pressure Sensors

Market segment by Technology:
o Fiber Optic Leak Detection
o Vapour Sensing Tubes
o Enhanced Real-Time Transient Model (E-RTTM)
o Acoustic Pressure Waves

Market segment by Regions/Countries:
o North America
o Europe
o Asia Pacific
o Middle East and Africa
o Latin America

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