[ad_1]
(EMAILWIRE.COM, November 20, 2023 ) The report “Pipeline Monitoring System Market by Pipe Type (Metallic, Non-Metallic), Technology (Ultrasonic, PIGs, Smart Ball, Magnetic Flux Leakage, Fiber Optic Technology), Solution, End-use Industry, and Region – Global Forecast to 2026″, The global pipeline monitoring system market size is projected to grow from USD 13.2 billion in 2021 to USD 19.2 billion by 2026, at a CAGR of 7.8% from 2021 to 2026. The pipeline monitoring systems market is expected to witness high growth as a result of increased number of oil & gas leakages in production, pipelines, and storage tanks due to natural disasters and high pressure along with stringent government regulations for pipeline safety and security and expansion and upgradation of pipelines. The growth in trend of the development of new devices and solutions to monitor the pipeline performance, optimize the resources, automate the functions, and safeguard the operations fuels the growth of pipeline monitoring systems.
Download PDF brochure of the Report @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=138709351
Browse in-depth TOC on “Pipeline Monitoring System Market
97 – Market Data Tables
42 – Figures
171 – Pages
In terms of value, the metallic pipes segment is estimated to lead the pipeline monitoring system market in 2020.
The metallic pipes segment accounted for the largest market share in the pipeline monitoring system market. Ductile iron pipes, stainless steel pipes, aluminum pipes, and other types, such as cast-iron pipes, corrugated pipes, and copper pipes, are considered under metallic pipes. Iron-based pipes may get corrosive when treated with highly oxygenated water steam; thus, metallic pipes made with steel have a higher demand from the end-user industries. Metallic pipes are also more conducive to heat and less corrosion-resistant than non-metallic pipes.
In terms of value, leak detection is estimated to be the fastest-growing segment in the pipeline monitoring system market.
The leak detection segment is expected to grow at the highest CAGR from 2021 to 2026. This could be attributed to the increasing focus on improving the control over pipeline infrastructure and automating the process to improve productivity, which would enable the monitoring of the conditions of assets and raise an alarm in case of unauthorized events. One of the major reason of leak detection application to grow includes, increase in investments from oil & gas companies in pipeline monitoring infrastructures and safe transportation of the material through it.
Get Sample Pages of This Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=138709351
The APAC region is projected to be the fastest-growing region in the pipeline monitoring system market during the forecast period.
The APAC region is projected to be the fastest-growing region in the pipeline monitoring system market in terms of both value and volume from 2021 to 2026. This region is witnessing the highest growth rate due to the rapid economic expansion. According to the IMF, China and India are among the fastest-growing economies globally. India is expected to overtake China with the highest growth rate, thus driving the global economy. The expansion of existing pipelines and development of new ones increased incidents of oil and gas leakages in pipelines and storage tanks at production facilities, and formulation of stringent regulations by the governments for the implementation of leak detection technologies and systems in different countries of APAC, and rapidly growing industrial sectors are expected to drive the market in APAC.
Pipeline Monitoring System Market Key Players
Siemens AG (US), Honeywell International Inc. (US), Huawei Technologies Co. Ltd. (China), BAE Systems (UK), and TransCanada PipeLines Limited (Canada), amongst others, are the key players operating in the pipeline monitoring system market.
Don’t miss out on business opportunities in Pipeline Monitoring System Market. Speak to Our Analyst and gain crucial industry insights that will help your business grow. https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=138709351
Siemens AG is a leading engineering and manufacturing company in Europe operating in the principal divisions of Digital Industries, Smart Infrastructure, Mobility and Siemens Healthineers, which together form the Industrial Businesses and Siemens Financial Services (SFS). These divisions represent the main activities of the company. Its focus is on the areas of electrification, automation, and digitalization. Siemens AG Gas and Power, which is headquartered in Houston, Texas, is the only company in the world that can provide fully integrated products, solutions, and services across the energy value chain of oil & gas production, power generation, and transmission.
About MarketsandMarkets
MarketsandMarkets has been recognized as one of Americas best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The Knowledge Store (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
[ad_2]
Source link
