global pipeline monitoring systems market size was valued at $13.8 billion in 2020, and is projected to reach $29.1 billion by 2030, registering a CAGR of 7.6% from 2021 to 2030. A pipeline is a type of infrastructure that allows liquid to be carried from its source to a refinery and then back to the distribution network. It is a convenient and cost-effective method of transporting liquids. Waste water, natural gas, crude oil, liquefied gas, petrochemical products, and other liquid or gaseous items are among the move along pipelines. Various materials such as aluminum, plastic, cement, steel, and stainless-steel are used to construct pipeline network. Various monitoring technologies like Intelligent Video Surveillance Supervisory Control and Data Acquisition (SCADA), Programmable Logic Control and Human Machine Interface (HMI), are being adopted widely to overcome oil & gas and petroleum leakage hazards..
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However, during the pandemic lockdown, various manufacturers in the pipeline monitoring systems had to stop their business in countries such as China, the U.S., and India. This break directly impacted sales of pipeline monitoring systems companies. In addition, lack of manpower and raw materials also constricted supply of equipment of pipeline monitoring systems has negatively influenced the growth of the market. However, reopening of production facilities and introduction of vaccines for coronavirus disease are anticipated to lead to re-opening of pipeline monitoring systems companies.
In addition, these technologies create a digital pipeline infrastructure for oil and gas companies who wish to monitor and operate their operations remotely. As a result, organizations have increased their investment on network monitoring and are implementing comprehensive monitoring solutions to prevent making systems vulnerable to cyber-attacks and defend networks. For instance, in September 2021, Huawei Technologies has launched Optical Transport Network that are expected to speed up digital transformation in industries including electric power, oil and gas, coal mining, and manufacturing.
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Heat and pressure are frequently created in huge amount inside the pipelines network, which can result in pipeline damage such as fracture or leaking. Highly reactive fluids are frequently transferred through these pipes, and if they leak, they may cause significant harm to the environment as well as waste. Hence such factors are expected to create demand for adoption of pipeline monitoring systems market growth in oil & gas and other liquid plants. Further, oil and gas industries are being pushed to install monitoring systems across their infrastructure. Following an increase in terrorist threats and cyber-attacks on oil and gas infrastructure systems, oil and gas operators throughout the world have boosted their investment on infrastructure and network monitoring.
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Key Findings Of The Study
- The report provides an extensive analysis of the current and emerging pipeline monitoring systems market trends and dynamics.
- In-depth pipeline monitoring systems market analysis is conducted by constructing estimations for the key segments between 2021 and 2030.
- Depending on material type, the metallic pipe segment dominated the pipeline monitoring systems market, in terms of revenue in 2020 and the non-metallic pipe segment is projected to grow at a significant CAGR during the forecast period.
- By technology, the ultrasonic testing segment has registered highest revenue in 2020.
- By end user, the water and wastewater segment has registered highest revenue in2020.
- Asia-Pacific is projected to register highest growth rate in the coming years.
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Market players-
Orbcomm Inc., Transcanada Company, PSI AG, Pure Technologies, Honeywell International Inc., Perma Pipe Inc., Siemens AG, Huawei Technologies Co. Ltd., BAE Systems, Inc. and Pentair PLC.
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