Rapid growth in the oil and gas
sector is likely to boost growth in the oil and gas pipeline leak detection
market. The global demand for oil and gas pipeline leak detection market is
primarily driven by the growing energy demand. Furthermore, increased global
demand for fuel is expected to propel growth in the oil and gas pipeline
network around the world. Rapid development of pipeline network increases the
risk of oil and gas pipeline leakage; it may further lead to a potential
disaster and accidents. Pipelines are one of the key modes of transporting oil
and gas from the point of production to the point of consumption; and are
increasingly used to transport oil and gas owing to the efficient and safe mode
of transport. Pipeline material corrosion and failure are some of the major
reasons for the oil and gas pipeline leakages.
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The oil and gas pipeline leakage can
result in significant revenue loss as well as loss of goodwill to the market
players in the oil and gas pipeline industry. Rise in demand for exploration
and production activities around the world is anticipated to boost growth in
the global oil and gas pipeline leak detection market. The global oil and gas
pipeline leak detection market is anticipated to register substantial growth in
the future on account of factors mentioned above; these factors are further
anticipated to attract investment in the pipeline leakage detection market.
Large-scale expansion of oil and gas
across the globe is estimated to drive growth in the oil and gas pipeline leak
detection market. The global oil and gas pipeline leak detection market can be
segmented on the basis of technology and geography to provide a holistic view
of the market. On the basis of technology, the global oil and gas pipeline leak
detection market can be segmented as Flow meters, Infra-red detection, Fiber
optic sensors, and Pressure sensors.
Increased investment in the offshore
development and development of remote field is anticipated to bolster growth in
the global oil and gas pipeline leak detection market. The global oil and gas
pipeline leak detection market is estimated to rise significantly in the
future. The following underlying factors are the key drivers of growth in this
market. Market’s growth is primarily driven by rising energy demand around the
world. Furthermore, increased oil and gas demand is anticipated to bolster
growth in the global oil and gas pipeline leak detection market. Additionally,
rise in exploration and production activities are anticipated to propel growth
in the global oil and gas pipeline leak detection market across the globe.
Increasing environmental concerns regarding oil spills and gas leakage are also
likely to play a key role in growth of the global oil and gas pipeline leak
detection market.
The global oil and gas pipeline leak
detection market is rising and is estimated to rise at a significant rate in
the future. North America is expected to hold the largest market share in the
global oil and gas pipeline leak detection market. The Middle East and Africa
is one of the fastest growing markets; and is estimated to rise at the highest
rate in the future. Large-scale expansion in the pipeline network in this
region is projected to increase the demand for oil and gas pipeline leak
detection market. Asia Pacific and Europe are emerging oil and gas pipeline
leak detection market; and are likely to play a key role in growth of the
global market.
Some of the key players in the
global oil and gas pipeline leak detection market include Honeywell
International, Inc., Pure Technologies, Perma-Pipe, Inc., Schneider Electric
and Siemens AG.
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This research report analyzes this
market on the basis of its market segments, major geographies, and current
market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Europe
- Rest of the World
This report provides comprehensive
analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of
current trends in the market, industry growth drivers, and restraints. It
provides market projections for the coming years. It includes analysis of
recent developments in technology, Porter’s five force model analysis and
detailed profiles of top industry players. The report also includes a review of
micro and macro factors essential for the existing market players and new
entrants along with detailed value chain analysis.
Reasons for Buying this Report
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