The Asia Pacific Pipeline Monitoring System Market would witness market growth of 8.3% CAGR during the forecast period (2021-2027).
Pipeline monitoring systems are solutions that are widely used for assessing bacteriological control programs and pipeline corrosion. To match regulating overseeing standards, they normally obtain samples or data without generating hazardous wastes. Pipeline monitoring systems aid in the detection of leaks, the analysis of operational conditions, the monitoring of pipeline networks, and the finding of breaks, reducing the danger of potential calamities such as explosions and fires. As a result, productivity is improved, the production process is improved, asset lifespan is increased, and compliance and safety are improved. Pipeline monitoring systems are currently available in a variety of varieties, including non-metallic and metallic.
Several pipeline systems began at remote exploration areas where terrestrial networks were either unreliable or non-existent. As a result, monitoring choices are restricted to time-consuming human checks or costly satellite subscriptions, neither of which allows for data collection at the granularity required. Terrestrial connection, such as cellular and Wi-Fi, is power-hungry and imposes expensive data plans on endpoints even when it is available. Sensor data is frequently little, and only when the value falls outside a set range does a message need to be sent. As a result, a cell data plan is unnecessary, raising the expense of setting up and maintaining a large-scale monitoring system.
China and India, as per the IMF, are among the world's fastest-growing economies. India is likely to surpass China as the world's fastest-growing economy, propelling the global economy forward. Oil and gas leakages in pipelines & storage tanks at production facilities have increased as a result of the growth of existing pipelines and the development of new ones, as well as the conceptualization of strict regulations by governments for the execution of leak detection technologies and systems in various APAC countries, and quickly growing industrial sectors, which are anticipated to drive in APAC. For example, China took a key step toward reforming its oil and gas pipeline network when it agreed to buy pipelines and storage facilities worth US$ 55.9 billion from the newly established PipeChina. PipeChina was established to provide neutral access to the country's pipeline infrastructure while also encouraging investment in the sector. Furthermore, by 2024, Indian industries will have invested in the construction of a national gas grid and import terminals. By 2030, the Indian government wants to more than quadruple the amount of gas in the energy mix.
The China market dominated the Asia Pacific Pipeline Monitoring System Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $1,688.3 million by 2027. The Japan market is exhibiting a CAGR of 7.6% during (2021 - 2027). Additionally, The India market would display a CAGR of 8.9% during (2021 - 2027).
Based on Technology, the market is segmented into Ultrasonic, PIGs, Smart Ball, Magnetic Flux Leakage, Fiber Optic Technology, and Others. Based on Solution, the market is segmented into Leak Detection, Pipeline Break Detection, Operating Condition, and Others. Based on Pipe Type, the market is segmented into Metallic & Non-Metallic. Based on End-use, the market is segmented into Crude & Refined Petroleum, Water & Wastewater, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Pipeline Monitoring System Market is Projected to reach USD 19.9 Billion by 2027, at a CAGR of 7.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Huawei Technologies Co., Ltd., Siemens AG, Thales Group S.A., Pentair PLC, Orbcomm, Inc., BAE Systems PLC, ABB Group, Honeywell International, Inc., PSI Software AG, and Perma-Pipe International Holdings, Inc.
By Technology
By Solution
By Pipe Type
By End Use
By Country
Unique Offerings Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
