May 05, 2022 05:51 ET | Source: ReportLinker ReportLinker

New York, May 05, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Pipeline Monitoring System Market Size, Share & Industry Trends Analysis Report By Technology, By Solution, By Pipe Type, By End-use, By Regional Outlook and Forecast, 2021 - 2027" - https://www.reportlinker.com/p06273370/?utm_source=GNW To avoid pipeline damage, pipeline monitoring & testing are essential. Leakage or breakage could result in substantial damage and harm the environment. Factors such as the significant rise in leakage difficulties in the oil and gas industries, as well as the expanding overall use of petroleum products, are propelling the growth of the pipeline monitoring systems market. Due to the highly reactive nature of the liquid and gas products that pass through the pipelines, the pipeline can occasionally produce extreme pressure, resulting in pipe breaking. Leak detection challenges are increasing in the liquid and gas sectors as a result of excessive pressure in pipes, natural disasters, or accidents, resulting in a variety of events like pipe breaking, pipe leakage, and pipe bursting. These mishaps tend to raise oil and gas costs and supplies all across the world. As a result, leak detection has become a big issue in the industry. As a result, such a feature is likely to boost the pipeline monitoring systems market’s growth and open up profitable chances. Furthermore, pipeline infrastructure has grown dramatically in response to rising oil and gas demand throughout many major countries. Thousands of kilometers of pipelines for the transportation and distribution of oil and gas products are being laid throughout diverse locations. Honeywell International, for example, will offer UOP technology to Numaligarh Refinery Ltd, the Indian Ministry of Petroleum and Natural Gas, in May 2021, to generate cleaner-burning diesel fuel and improve crude oil conversion in conformity with India’s BS-VI emission criteria. As a result, the vast networks of pipelines used in the oil and gas and petroleum industries have fueled the demand for pipeline monitoring systems. COVID-19 Pandemic With the surge of COVID-19 cases, emergency protocols have been implemented, as well as the suspension of numerous operations and facilities in 2020. Almost every business domain has suffered from the restrictions imposed in the nations like complete or partial lockdown, temporary ban on manufacturing units and ban on imports & exports. The bad impact of COVID-19 produced a disturbance in the supply chain, which delayed market expansion due to a scarcity of raw materials and a workforce shortage. This has severely disrupted the demand and growth of the pipeline monitoring system market. In addition, various end-use industries have witnessed a slowdown in their production and operations, which has reduced the demand for various products and components used in their daily operations. Market Growth Factors Use of resources in a sustainable manner Pipeline infrastructure development requires a significant upfront expenditure. Oil and gas supplies are depleting due to rising overall energy demand. To address this challenge, businesses are constructing highly efficient facilities to increase production technologies and lower operational expenses. Oil and gas businesses are now required to install monitoring systems throughout their infrastructure. Following a rise in cyber-attacks and terrorist threats on oil and gas infrastructure systems, oil and gas operators throughout the world have boosted their spending on infrastructure and network monitoring. Many attacks against gas facilities and refineries have occurred in the Middle East and Europe. Rapid growth in pipeline infrastructure Because of the increased demand for oil and gas across most major countries, pipeline infrastructure has improved significantly. Pipelines for the transportation and distribution of oil and gas products are being installed across various geographies. The massive networks of pipelines have fueled the demand for pipeline monitoring systems. Sensors and sophisticated monitoring technologies are being used by pipeline firms to identify leaks in the pipeline infrastructure. To safeguard pipelines from terrorist attacks and damage, companies are concentrating on deploying physical security solutions like ground & aerial surveillance and video surveillance. In the years ahead, pipeline infrastructure growth will create a profitable market for monitoring system vendors. Market Restraining Factors Operators’ lack of concerns about the monitoring system’s implementation Pipeline firms have long been way of employing cyber & network security solutions due to a lack of experience and understanding. Furthermore, IT organizations’ network security solutions were not robust, and most solutions were only offered in silos. This makes it hard for pipeline operators to select particular pipeline network monitoring systems. IT security firms also have a hard time convincing operators of the value of both network and physical monitoring systems. The lack of information and fear regarding the adoption of monitoring systems within operators is a major stumbling block for monitoring solution suppliers in the oil and gas industry. Technology Outlook Based on Technology, the market is segmented into Ultrasonic, PIGs, Smart Ball, Magnetic Flux Leakage, Fiber Optic Technology, and Others. The Magnetic Flux Leakage segment garnered a significant revenue share in the pipeline monitoring system market in 2020. Magnetic flux leakage (TFI or Transverse Field Inspection technique) is a nondestructive testing method that uses magnetic flux to identify pitting and corrosion in steel structures, most often pipelines & storage tanks. The main premise is that the steel is magnetized using a strong magnet. The magnetic field "leaks" from the steel in spots where there is corrosion or missing metal. A magnetic detector is positioned between the poles of the magnet in an MFL (or Magnetic Flux Leakage) tool to detect the leakage field. The chart recording of the leakage field is interpreted by analysts to detect damaged regions and assess the degree of metal loss. Solution Outlook Based on Solution, the market is segmented into Leak Detection, Pipeline Break Detection, Operating Condition, and Others. Pipeline Break Detection segment recorded a substantial revenue share in the pipeline monitoring system market in 2020. Water transmission pipes and distribution mains are prone to sudden pipe breakage. Because of the service disruption, repair costs, and damage to adjacent property & infrastructure, the repercussions of these failures can be highly costly, by reducing the time it takes to identify and locate pipeline breaks, the cost involved with pipeline breaks can be decreased. Pipe Type Outlook Based on Pipe Type, the market is segmented into Metallic & Non-Metallic. The Metallic segment acquired the highest revenue share in the pipeline monitoring system market in 2020. Metallic pipes include stainless steel pipes, ductile iron pipes, aluminum pipes, and other varieties like as corrugated pipes, cast-iron pipes, and copper pipes. When treated with a highly oxygenated water stream, iron-based pipes can become corrosive; as a result, end-user industries prefer steel-based pipes. Metallic pipes are also more prone to corrosion than non-metallic pipes and are less heat resistant. End-use Outlook Based on End-use, the market is segmented into Crude & Refined Petroleum, Water & Wastewater, and Others. The Crude & Refined Petroleum segment procured the highest revenue share in the pipeline monitoring system market in 2020. Crude oil is an unrefined type of petroleum that occurs spontaneously. It is one of the most important energy sources in the energy and power sector. Crude oil is refined into gasoline, petroleum, petrochemicals, and diesel once it has been processed. It is a renewable resource that is also called fossil fuel. It is primarily divided into three sub-segments: bio-fuels, oil, natural gas, all of which are delivered via pipelines, resulting in a large market opportunity for pipeline monitoring systems, which provide end-to-end monitoring and security solutions. Regional Outlook Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America held the maximum revenue share in the pipeline monitoring system market in 2020. Pipeline monitoring systems have long been a big business in North America. In terms of quality and applicability, it has been a pioneer in product innovation. Because of the increased oil and gas exploration and production operations, pipeline monitoring systems are in more demand. Because of the expansion of pipelines across North American countries such as Mexico, the US, and Canada, oil and gas corporations, government bodies, and environmental organizations are working on preventing gas leaks, oil spills, and other calamities. The major strategies followed by the market participants are Partnerships, Collaborations, and Agreements. Based on the Analysis presented in the Cardinal matrix; Siemens AG and Huawei Technologies Co., Ltd. are the forerunners in the Pipeline Monitoring System Market. Companies such as Honeywell International, Inc., BAE Systems PLC, and Pentair PLC are some of the key innovators in the Market. 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. Recent Strategies deployed in Pipeline Monitoring System Market Partnerships, Collaborations, and Agreements: Feb-2022: ABB formed a partnership with INTECH, the leading smart classroom & smart library solutions provider. Under this partnership, the companies would improve the integration of both companies in the region. Sep-2021: Perma-Pipe Egypt received a contract of $5.0 million by Consolidated Contractors Company along with Gascool Company. Under this contract, Perma-Pipe Egypt would supply field joints, leak detection systems, and thermal insulation systems for district cooling networks. Additionally, contract would allow supplier projects with greater ability to encounter the demands of Egyptian consumers. Jun-2021: ABB signed a service contract with EuRoPol GAZ S.A, an owner of the Polish part of the Yamal-Europe gas pipeline. Under this partnership, EuRoPol GAZ S.A. would increase dependability and enhance securities level at all five gas compressor stations placed in the Polish section of the gas pipeline. May-2021: Huawei signed a strategic agreement with SINO-PIPELINE in Shenzhen. Together, the companies focused on assembling gas and oil creative pipeline fields and set up a long-lasting interacting mechanism to propel the pipeline’s huge digital conversion, accomplish split success and development. Nov-2020: Thales came into an agreement with Teréga, a gas operator and accelerator of the energy transition. Under this agreement, Thales would emplace a solution based on long-range UAVs to watch Teréga’s gas pipeline network. Additionally, the association impacts the working price of pipeline observation while providing an improved level of service. Nov-2020: Siemens Energy came into a partnership with, ProFlex Technologies, provider of spontaneous leak detection services for pipeline operators. Under this agreement, Siemens Energy would obtain access to ProFlex Technologies’ digital Pipe-Safe leading leak detection technology, designed to allow gas, oil, and petrochemical workers to minimize ecosystem reach by reducing accidental product releases. Sep-2020: ABB digital gas came into contract with Assam Gas Company, Government Company. Under this contract, Assam Gas Company would manage in two ways to cover 399 tea estates as well as six big industrial consumers as state service operates towards creating a continuous gas distribution system. Product Launches and Product Expansions: Mar-2022: HUAWEI Technologies introduced an intelligent pipeline monitoring system. This technology is designed to monitor the disputing crude oil theft in Nigeria. Additionally, technology provides quick response, high identification precision, and accurate positioning, that would assure pipeline safety and minimize mischief and robbery. Sep-2021: Huawei introduced Huawei OptiXsense, H-OTN, and Digital meeting rooms. The solutions provide a first glance at its complete digital infrastructure scope as well as how these solutions and products are placed to mold digital infrastructure for the next ten years. Apr-2021: ABB introduced ABB Ability, Mobile Gas Leak Detection System, HoverGuard. This detection system would provide solutions for discovering leaks quickly and more accurately to increase safety around the pipeline network either in the urban or remote ecosystem, by mapping and identifying natural gas leaks across tough sites such as bridges, a region with priority limitation, gas storages pipeline as well as assets. Scope of the Study Market Segments covered in the Report: By Technology • Ultrasonic • PIGs • Smart Ball • Magnetic Flux Leakage • Fiber Optic Technology • Others By Solution • Leak Detection • Pipeline Break Detection • Operating Condition • Others By Pipe Type • Metallic • Non-Metallic By End Use • Crude & Refined Petroleum • Water & Wastewater • Others By Geography • North America o US o Canada o Mexico o Rest of North America • Europe o Germany o UK o France o Russia o Spain o Italy o Rest of Europe • Asia Pacific o China o Japan o India o South Korea o Singapore o Malaysia o Rest of Asia Pacific • LAMEA o Brazil o Argentina o UAE o Saudi Arabia o South Africa o Nigeria o Rest of LAMEA Companies Profiled • 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 • Perma-Pipe International Holdings, Inc. Unique Offerings • Exhaustive coverage • Highest number of market tables and figures • Subscription based model available • Guaranteed best price • Assured post sales research support with 10% customization free Read the full report: https://www.reportlinker.com/p06273370/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________