Oil & Gas Pipeline Monitoring Systems Market: Introduction
- The pipeline network plays a vital role in the transport of crude oil and natural gas across the globe, with connections to critical infrastructure such as oilfields and storage units. Oil and gas activities have been expanding in the last few years, owing to an increase in investments in oil & gas exploration activities around the globe.
- A wide network of thousands of miles of pipelines is being installed for oil & gas transportation. These pipelines are a safer and efficient option to transport products across the world.
- A pipeline monitoring system are crucial to monitor, maintain, and prevent leakage from the pipeline, as a leakage could lead to financial losses and environmental pollution
- Rise in environmental concerns and stringent rules and regulations enacted by governments & international agencies about oil & gas spills are compelling companies to develop effective and efficient technologies to prevent any leakage in pipelines. Companies are also actively investing to develop efficient pipeline monitoring solutions.
Key Drivers and Restraints of Oil & Gas Pipeline Monitoring Systems Market
- Rise in incidents of accidental leakage is a major factor driving the oil & gas pipeline monitoring systems market. Leakage of oil or gas due to pipeline failure results in irreversible damages, such as financial loss and significant environmental pollution. Oil & gas pipeline monitoring systems help companies to prevent leakage, which in turn is likely to avoid financial losses and environmental pollutions
- Rise in import and export of oil & gas, globally, is another driver of the oil & gas pipeline monitoring systems market. Demand for import and export of oil & gas through pipelines has been rising significantly in the last few years, as pipelines provide continues and safe transportation. Rise in demand for transportation of oil & gas through pipelines from several countries is expected to boost the oil & gas pipeline monitoring systems market.
- High cost of installation and land acquisition is a major restraint of the oil & gas pipeline monitoring systems market. Initial investment required for laying of pipelines, is high, as compared to the cost of other options for the transport of hydrocarbon products; however, pipelines are considered as a cost-effective mode of transport in the long run.
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Global Oil & Gas Pipeline Monitoring Systems Market Segmentation
- The global oil & gas pipeline monitoring systems market can be segmented based on technology, application, and pipe type
- In terms of technology, the oil & gas pipeline monitoring systems market can be segmented into ultrasonic, pipeline inspection gauges, smart ball, magnetic flux leakage and others. Magnetic flux detection of leakage is most efficiently used for both liquid and gas pipelines; hence, the magnetic flux leakage segment is estimated to expand at a rapid pace during the forecast period.
- Based on application, the oil & gas pipeline monitoring systems market can be divided into leak detection, operating condition monitoring, corrosion detection, and others. The operating condition monitoring segment is expected to dominate the oil & gas pipeline monitoring systems market and expand at a notable CAGR during the forecast period. The operating condition monitoring system can detect slight changes in the pipe conditions, which can prevent any leakage in the pipeline. Consequently, the operating condition monitoring segment is projected to gain market share during the forecast period.
- Based on pipe type, the global market can be classified into ductile iron, stainless steel, aluminum, plastic, and others. Metal pipes, such as ductile iron, steel and aluminum, are extensively utilized in the industry, due to easy installation and safety offered by metal pipes.
Global Oil & Gas Pipeline Monitoring Systems Market: Regional Segmentation
- Based on region, the global oil & gas pipeline monitoring systems market can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
- North America dominated the global oil & gas pipeline monitoring systems market in 2018. The market in the region is expected to expand at a significant pace during the forecast period. The U.S. is a leading oil producer of oil & gas, globally, and hence, it is expected to lead the global market in near future.
- The market in Europe is projected to expand at a significant CAGR in the near future. This is attributed to an increase in investment in long-distance export pipelines owing to a rise in the demand for the oil & gas in the region.
- Middle East & Africa is the third-largest market for oil & gas pipeline monitoring systems, globally, due to the presence of shallow water oil reservoirs across Saudi Arabia, Qatar, Kazakhstan and Iran, which led to extensive utilization of pipelines for transportation of oil & gas in these countries.
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Key Players Operating in Market:
- Honeywell International Inc
- Siemens AG
- Orbcomm Inc
- Sensornet Limited
- Skymap Global.
- SenseGrow Inc
- Huawei Technologies Co. Ltd.
- BAE Systems, Inc
Global Oil & Gas Pipeline Monitoring Systems Market: Research Scope
Global Oil & Gas Pipeline Monitoring Systems Market, by Technology
- Smart Ball
- Magnetic Flux Leakage
Global Oil & Gas Pipeline Monitoring Systems Market, by Application
- Leak Detection
- Operating Condition Monitoring
- Corrosion detection
Global Oil & Gas Pipeline Monitoring Systems Market, by Pipe Type
- Ductile Iron
- Stainless Steel
Global Oil & Gas Pipeline Monitoring Systems Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.