The global oil and gas pipeline leak detection equipment market to expected to expand at a CAGR of 6.8% for the forecast period between 2016 and 2024.
Albany, NY -- (SBWIRE) -- 05/16/2019 -- A fresh report has been added to the wide database of Market Research Report Search Engine (MRRSE). The research study is titled "Oil and Gas Pipeline Leak Detection Equipment Market Set to Exhibit Momentous Revenue Share at US$ 3.65 Billion by 2024" which encloses important data about the production, consumption, revenue and market share, merged with information related to the market scope and product overview.
Oil and gas pipeline leak detection equipment are utilized to detect leaks in the pipelines carrying oil and gas. Due to hazardous nature of oil and gas their transportation through pipelines require extra care and safety. Oil and gas spills can endanger ecology of the area and can adversely affect life in that area. Therefore strict environmental rules and regulations regarding oil and gas have made it necessary for pipeline operators to employ pipeline leak detection systems across the globe. Aging pipeline infrastructure along with planned and under-construction pipeline projects would boost the demand for oil and gas pipeline leak detection equipment. The performance of oil and gas pipeline leak detection equipment is based on parameters such as reliability, sensitivity, and accuracy. A small leak if not detected in time can lead to a huge spill causing damage to environment and resulting in business loss for pipeline operator in terms of leaked oil & gas and compensation to be paid for damaging environment and life. Therefore pipeline operators are installing leak detection equipment in their pipelines at an increasing rate.
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This study analyzes, estimates, and forecasts the global oil and gas pipeline leak detection equipment market in terms of revenue (US$ Mn) from 2015 to 2024. Market numbers given in the report describe the demand for global oil and gas pipeline leak detection equipment, but not production or supply. The global oil and gas pipeline leak detection equipment report also analyzes several driving and restraining factors and their impact on the market during the forecast period.
The global oil and gas pipeline leak detection equipment market to expected to expand at a CAGR of 6.8% for the forecast period between 2016 and 2024. Progressing at this rate, the revenue of the market is projected to be become US$3.65 bn by 2024 increasing from US$2.02 bn in 2015.
The report provides comprehensive analysis of the global oil and gas pipeline leak detection equipment by technology, location, equipment type and regions. It segments the market into technologies such as mass-volume balance, acoustic/ultrasonic, fiber optics, vapor sensing, and others (thermal imaging, real-time transient modeling (RTTM), etc.). It also classifies market into location- onshore and offshore. The report divides the oil and gas pipeline leak detection equipment market based on equipment type such as flowmeters, acoustic sensors, cable sensors, and others (thermal imaging cameras, pressure valves, etc.). The report also segments the oil and gas pipeline leak detection equipment market based on major geographies into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Primary research represents the majority of our research efforts, complemented by extensive secondary research. We reviewed key players' product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of technical writing, internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most consistent, effective, and productive approach for procuring precise market data, recognizing business opportunities, and understanding industry participants' perceptions.
Secondary research sources that are typically referred to include broker reports, corporation websites, external patented databases, financial reports, stockholder presentations, Securities & Exchange Commission filings, proprietary databases and relevant patent and regulatory databases, national government documents, statistical databases, and market reports, news articles, press releases, and webcasts specific to companies operating in the market. Secondary sources referred for this study include Association of Oil Pipe Lines (AOPL), Pipeline & Gas Journal, Interstate Natural Gas Association of America (INGAA), Canadian Energy Pipeline Association (CEPA), Hoover's, Factiva, and company presentations.
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Based on the technology, location, equipment type and country, the report analyzes the attractiveness of each segment and country with the help of an attractiveness tool. The study consist of value chain analysis, which offers a better understanding of key companies in the supply chain. Additionally, the study examines market competition through Porter's Five Forces Analysis.
The report includes an overview of the market share of key companies in the global oil and gas pipeline leak detection equipment market. Market share of companies has been derived on the basis of revenue generated by the companies from the sale of oil and gas pipeline leak detection equipment. Key market players profiled in the study are Siemens AG, PSI AG, KROHNE Messtechnik GmbH, Honeywell International Inc., Schneider Electric SE, ATMOS International, Perma-Pipe Inc., Pentair Thermal Management, FLIR Systems Inc., Pure Technologies Ltd., TTK-Liquid Leak Detection Systems, and AREVA NP.
The report segments the global oil and gas pipeline leak detection equipment market as:
Oil and Gas Pipeline Leak Detection Equipment Market – Technology Analysis
Oil and Gas Pipeline Leak Detection Equipment Market – Location Analysis
Oil and Gas Pipeline Leak Detection Equipment Market – Equipment Type Analysis
Oil and Gas Pipeline Leak Detection Equipment Market - Regional Analysis
Rest of Europe
Rest of Asia Pacific (APAC)
Rest of Latin America (LATAM)
Middle East & Africa
Rest of Middle East & Africa (MEA)
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