Published Date: 30-Apr-22
Industry Insights | Market Trends | Highest number of Tables | 24/7 Analyst Support
According to a new report, published by KBV research, The Global Pipeline Monitoring System Market size is expected to reach $19.9 billion by 2027, rising at a market growth of 7.6% CAGR during the forecast period.
The Ultrasonic segment acquired the maximum revenue share in the Global Pipeline Monitoring System Market by Technology in 2020, thereby, achieving a market value of $5.0 billion by 2027. Because it detects the thickness and direction of oil and gas flow in pipelines, ultrasonic technology is recommended. With the help of a monitoring device, this system also detects the quantity of corrosion that happens in the pipe.
The Leak Detection segment is leading the Global Pipeline Monitoring System Market by Solution in 2020, thereby, achieving a market value of $8.1 billion by 2027. This is due to growing attention on strengthening pipeline infrastructure control and automating the process to boost efficiency, allowing for the monitoring of asset conditions and raising an alarm in the event of illegal events. Increased investments from oil and gas firms in pipeline monitoring infrastructures and safe transit of materials through it are two significant causes for the growth of leak detection applications.
The Non-Metallic segment has growth rate of 9.2% during (2021 - 2027). Pipes made of nonmetallic materials are both connected and connectable. This pipe is simple to get into a ditch because it can be lifted and bent. Because steel pipes have hardness and weight, while working with anything made of steel, it's an extra overhead to bear. Owing to this, the demand for non-metallic pipeline monitoring system would surge in the coming years.
The Water & Wastewater segment is showcasing a CAGR of 8.1% during (2021 - 2027). Modern water and wastewater treatment systems, desalination units, water pumping units, cooling water systems, and other systems all rely on piping. The veins of contemporary plants are similar to piping systems. Water, wastewater, chemicals, and mixes are all transported by pipelines from one point to another. Understanding piping fundamentals, generic and specific considerations, materials, fabrication and installation, examinations, and testing and inspection requirements, as well as international and domestic regulations, is required for the design, construction, operation, and maintenance of various piping systems. Fluid mechanics, dynamics, statics material strength, and metallurgy are just a few of the engineering disciplines that must be used to piping.
The North America market dominated the Global Pipeline Monitoring System Market by Region in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $6.6 billion by 2027. The Europe market is estimated to grow at a CAGR of 7.2% during (2021 - 2027). Additionally, The Asia Pacific market would witness a CAGR of 8.3% during (2021 - 2027).
Full Report: https://www.kbvresearch.com/pipeline-monitoring-system-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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 Pipe Type
By End Use
Unique Offerings from KBV Research
North America Pipeline Monitoring System Market Future Scope & Opportunities 2021-2027
Europe Pipeline Monitoring System Market Size & Growth Forecast 2021-2027
Asia Pacific Pipeline Monitoring System Market Size, Share & Industry Outlook to 2027
LAMEA Pipeline Monitoring System Market Growth, Trends & Forecasts 2021-2027