What is the current market size and future outlook for the pipeline safety market?
The pipeline safety market size has grown strongly in recent years. It will grow from $9.82 billion in 2024 to $10.67 billion in 2025 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to stringent regulatory compliance, growing environmental concerns, expansion of pipeline networks, public safety and perception, prevention of accidents and leakages.
The pipeline safety market size is expected to see rapid growth in the next few years. It will grow to $16.59 billion in 2029 at a compound annual growth rate (CAGR) of 11.7%. The growth in the forecast period can be attributed to integration of advanced analytics, adoption of remote monitoring, emphasis on cybersecurity measures, focus on proactive maintenance. Major trends in the forecast period include drone technology for surveillance, enhanced communication and collaboration platforms, regulatory compliance management, augmented reality (AR) for training and maintenance, hybrid pipeline monitoring solutions.
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How have varous drivers impacted the growth of the pipeline safety market?
The increase in demand for oil and gas leads to the development of pipeline infrastructure, which eventually drives the growth of the pipeline safety market. Pipeline infrastructure is attributed to the need for efficient, reliable transportation of oil, gas, and other resources over long distances, enabling energy distribution, reducing transportation costs, and supporting economic growth in various regions. Pipeline safety helps pipeline infrastructure by ensuring the secure transport of resources, minimizing risks of leaks, spills, or explosions, and extending the lifespan of pipelines through regular monitoring and maintenance. For instance, in February 2024, according to the gov.uk, a UK-based public sector information website, the national infrastructure and construction pipeline for 2023 includes £379 ($491.92) billion of planned investment, with £164 ($212.86) billion scheduled to occur by 2024/25. Thus, the rise in the usage of piped gas lines contributes to the demand for the pipeline safety market growth.
What are the primary segments of the pipeline safety market?
The pipeline safety market covered in this report is segmented –
1) By Component: Solutions, Services
2) By End User: Natural Gas, Crude Oil, Refined Products, Other End Users
3) By Application: Onshore, Offshore
Subsegments:
1) By Solutions: Pipeline Monitoring Systems, Leak Detection Systems, Pipeline Inspection Systems, Risk Assessment Software, Other Safety Solutions
2) By Services: Consulting Services, Maintenance And Repair Services, Training And Support Services, Emergency Response Services, Other Safety Services
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Which firms are leading the pipeline safety market?
Major companies operating in the pipeline safety market include Exxon Mobil Corporation, Chevron Corporation, Marathon Petroleum Corporation, Valero Energy Corporation, The Phillips 66 Company, Energy Transfer Partners L.P., Siemens AG, General Electric Company, Plains All American Pipeline L.P., Cisco Systems Inc., Enbridge Inc., Schneider Electric SE, Honeywell International Inc., ABB Ltd., Kinder Morgan Inc., TransCanada Corporation, Williams Companies Inc., Rockwell Automation Inc., AVEVA Group plc, Total Safety Inc., Perma-Pipe Inc., Senstar Corp, Future Fiber Technologies, TTK Leak detection System, ESRI Inc., Magellan Midstream Partners L.P.
How will industry trends affect the trajectory of the pipeline safety market?
Major companies operating in the pipeline safety market are focused on developing pipeline safety tools that feature ultrasonic testing technology to detect leaks, corrosion, and structural weaknesses more accurately and efficiently. Ultrasonic testing technology is a non-destructive testing (NDT) technique that utilizes high-frequency sound waves to identify defects, measure the thickness of materials, and evaluate the structural integrity of components. For instance, in October 2024, NDT Global LLC, a US-based company, and Saudi Aramco Group, a Saudi Arabia-based company, collaborated to launch a 56-inch Ultrasonic Inspection Tool, a pipeline safety tool utilizing ultrasonic testing technology that applies high-frequency sound waves to locate internal defects within pipeline materials. This non-invasive testing method is particularly useful for detecting problems like corrosion, cracks, and other structural irregularities without causing harm to the pipeline.
Which geographic trends are shaping the pipeline safety market, and which region has the highest market share?
The countries covered in the pipeline safety market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
What Does The Pipeline Safety Market Report 2025 Offer?
The pipeline safety market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Pipeline safety refers to a set of responsibilities that apply to all pipelines. Integrating pipeline security into the pipeline infrastructure helps monitor, control, and analyze main network connectivity.
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