The pipeline monitoring system global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Pipeline Monitoring System Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The pipeline monitoring system market size has grown strongly in recent years. It will grow from $15.06 billion in 2023 to $16.33 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to rise in pipeline expansion projects, incident prevention, infrastructure aging, risk management, operational optimizationenvironmental awareness.
The pipeline monitoring system market size is expected to see strong growth in the next few years. It will grow to $22.42 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to big data analytics, iot integration, climate change adaptation, cybersecurity focus, global energy transition. Major trends in the forecast period include advanced analytics and ai, remote monitoring and control, cybersecurity measures, integration of drones and uavspredictive maintenance, environmental monitoring.
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Scope Of Pipeline Monitoring System Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Pipeline Monitoring System Market Overview
Market Drivers –
The growth of pipeline infrastructure is expected to propel the growth of the pipeline monitoring system market going forward. Pipeline infrastructure refers to a category of infrastructure that encompasses all related infrastructure, including all privately, publicly, or cooperatively owned lines, facilities, or systems for transmitting or distributing gas, oil, and petroleum products, as well as other comparable goods or substances that either directly or indirectly serve the public. Pipeline monitoring systems help the pipeline infrastructure by developing IoT sensors to promote monitoring solutions, alerting pipelines, and dispatching technicians to pinpoint locations. For instance, in May 2021, according to a research report issued by Australia and New Zealand Banking Group Limited (ANZ), an Australian-based banking and financial services company, Australia’s major infrastructure project pipeline ramped up with an increase of up to $21 billion year-on-year in 2021–22 alone. In Australia, 600 kilometers of pipeline were being constructed, with an additional 12,200 kilometers of infrastructure being considered, the total cost of this work was $18.6 billion. In addition, by 2022–23, the potential investment pipeline swells to almost $93 billion, including the $90 billion Job Keeper program. Further, Australia’s construction boom coincides with $485.8 billion in pipeline development activity worldwide, consisting of 408 new pipelines, of which 70,900 km were being built and additional 122,500 km planned. Therefore, the growth of the pipeline infrastructure is driving the market for pipeline monitoring systems.
Market Trends –
Technological advancements have emerged as a key trend gaining popularity in the pipeline monitoring system market. Major companies operating in the pipeline monitoring system market are focused on innovating new technologies to sustain their position in the market. For instance, in April 2021, ABB Ltd., a Switzerland-based digital technologies provider, launched the world’s fastest and most sensitive drone-based gas leak detection system, called Mobile Gas Leak Detection System, HoverGuard. The innovative system rapidly, safely, and accurately finds, measures, and maps leaks up to 100 meters away from the natural gas transmission and distribution pipelines, collecting lines, storage areas, and other possible causes. After a survey, it instantly creates precise digital reports that summarize the results and may be shared. HoverGuard is a significant advancement for the environment and in the detection of gas leaks.
The pipeline monitoring system market covered in this report is segmented –
1) By Type: Metallic, Non-Metallic, Concrete Pipes, Asbestos Cement Pipes
2) By Technology: Ultrasonic, PIG (Pipeline Inspection Gauge), Small Ball, Magnetic Flux Leakage, Fiber Optic, Other Technologies
3) By Application: Operating Efficiency, Leak Detection, Pipeline Break Detection
4) By End-User: Oil And Gas, Water And Wastewater, Other End-Users
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Regional Insights –
North America was the largest region in the pipeline monitoring system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the pipeline monitoring system market report during the forecast period. The regions covered in the pipeline monitoring system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the pipeline monitoring system market report are ABB Ltd., Emerson Electric Company, Honeywell International Inc., Huawei Investment & Holding Co. Ltd., ORBCOMM Inc., Siemens AG, Schneider Electric SE, QinetiQ Group plc, Rockwell Automation Inc., TransCanada PipeLines Limited, PSI Group Inc., Pure Technologies Ltd., BAE Systems Inc., Pentair plc, Badger Meter Inc., Bentek Systems Ltd., General Electric Company, Perma-Pipe International Holdings Inc., AVEVA Group plc, Yokogawa Electric Corporation, OptaSense Ltd., International Business Machines Corporation, HollySys Automation Technology Co. Ltd., Inductive Automation Software LLC, Atmos International plc, Syrinix Ltd., Hifi Engineering (China) Co. Ltd., KROHNE Messtechnik GmbH, Sensornet Ltd., TTK Corporation .
Table of Contents
1. Executive Summary
2. Pipeline Monitoring System Market Report Structure
3. Pipeline Monitoring System Market Trends And Strategies
4. Pipeline Monitoring System Market – Macro Economic Scenario
5. Pipeline Monitoring System Market Size And Growth
…..
27. Pipeline Monitoring System Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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