The market report on the Pipeline Monitoring System Market published by Stratview Research indicates lucrative growth opportunities in the Pipeline Monitoring System industry during the next five-year period and ensures more information regarding the market trends. The following summary will give an overview of the challenges, trends, market dynamics, and key players.

Pipeline Monitoring System Market Forecast:

The pipeline monitoring system market is likely to witness an impressive CAGR of 7.3% during the forecast period. The prime factor that is contributing to the demand for pipeline monitoring system is the increasing number of oil & gas leakages during the production process.

The growth of this market principally depends upon several factors which have direct or indirect influence on the demand. The report published by Stratview Research has the summary of such factors derived using multiple analysis. These methods help in evaluating the potential of the companies and identify gaps, finding challenges as well as opportunities to lay out a successful roadmap which leads to higher profitability.

Here are the key players in the market –

  • Orbcomm Inc.
  • Transcanada
  • Honeywell International Inc
  • PSI AG
  • Siemens AG
  • Huawei Technologies Co. Ltd.
  • Bae Systems Inc.
  • Pure Technologies
  • C-Fer Technologies
  • Perma-Pipe Inc.

Pipeline Monitoring System Market Segmentation:

The report segments are based upon applications, material, product type, demographics, geographics, benefits and volume etc. It also recognizes the most-attractive segments and sub-segments.

Based on the pipe type, the market is segmented as metallic, non-metallic, and others. The metallic segment held the largest share of the market in 2019 and is expected to remain dominant during the forecast period. The significant share of the metallic segment is attributed to metals being the major materials for construction of pipes owing to durability and corrosion resistance.

Based on the technology type, the pipeline monitoring system market is segmented as ultrasonic, PIG, electronics and semiconductors, coating, fiber optic technology, energy, and others. The ultrasonic segment accounted for the largest share by technology in 2019, owing to stringent regulations for safety and security of pipelines coupled with pipeline upgradation and expansion. The segment is likely to lead the market during the forecast period as well.

Based on the solution type, the market is segmented as leak detection, operating condition, pipeline break detection, and others. The leak detection segment held the largest share of the market in 2019 and is expected to remain dominant during the forecast period. The significant share of the leak detection segment is attributed to huge investments in pipeline monitoring infrastructures by oil & gas companies.

Based on the end-use industry type, the pipeline monitoring system market is segmented as crude & refined petroleum, water & wastewater, and others. The crude & refined petroleum segment accounted for the largest share in 2019, owing to the higher stakes involved, and the segment is estimated to maintain its dominance during the forecast period as well.

In terms of regions, North America is estimated to be the largest market for pipeline monitoring systems during the forecast period. On the other hand, the Asia-Pacific market is expected to grow with a lucrative CAGR on account of the rapid construction of new pipelines in developing nations of the region, with China and India as the major growth engines.

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