Pipeline Monitoring System: Introduction
- Pipelines are used to carry fluids such as oil & gas, water, and wastewater. These pipes are sometimes laid in harsh and hazardous conditions and areas. As a result, these pipes need continuous monitoring to detect damages, leakages, and pipeline failures. These failures could lead to adverse ecological and economic consequences.
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Key Drivers and Restraints of Pipeline Monitoring System Market
- Rapid globalization and industrialization is one of the drivers of the global pipeline monitoring system market. Demand for water & wastewater and oil & gas pipelines has been rising due to industrialization and globalization. This trend is expected to continue in the near future, thereby boosting the demand for pipeline monitoring systems.
- Growth in discovery of oil & gas fields is anticipated to drive the pipeline monitoring system market. Investment in oil & gas exploration has increased significantly over the last two years. For instance, upstream investment stood at more than US$ 500 Bn in 2019. Rise in investments in oil & gas exploration is estimated to boost the development of oil & gas infrastructure in the near future.
- High initial investment is projected to hamper the global pipeline monitoring system market. The pipe monitoring technology is highly advance. Therefore, it needs sophisticated equipment. The cost of the equipment is high. As a result, companies hesitate to invest in the technology. Furthermore, lack of funding for development of the aging infrastructure in developing and underdeveloped countries is likely to adversely affect the global pipeline monitoring system market in the near future.
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Global Pipeline Monitoring System Market: Segmentation
- The global pipeline monitoring system market can be segmented based on pipe type, technology, and end-user
- In terms of pipe type, the global pipeline monitoring system market can be divided into metallic pipes and non-metallic pipes. The metallic pipe segment is expected to expand at a high CAGR during the forecast period, as metallic pipes possess high strength and durability.
- Based on technology, the global pipeline monitoring system market can be classified into ultrasonic, PIG, smart ball, magnetic flux leakage, fiber optic technology, and others. PIG and ultrasonic segments are expected to expand at high CAGR during the forecast period due to high demand among end-users.
- In terms of end-user, the global pipeline monitoring system market can be segregated into oil & gas, water & wastewater, and others. Oil & gas is anticipated to be a rapidly growing segment of the market during the forecast period. Governments of various countries across the globe have been enforcing stringent laws to lower the occurrence of oil & gas pipe leaks, as these adversely affect the environment.
Global Pipeline Monitoring System Market: Regional Segmentation
- Based on region, the global pipeline monitoring system market can be split into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
- Asia Pacific dominated the global pipeline monitoring system market in 2019. This trend is projected to continue during the forecast period, due to increase in investment in oil & gas and water & wastewater pipeline in countries such as China, India, Singapore, Indonesia, and Japan.
- Europe and North America are also vital regions of the global pipeline monitoring system market. Governments of countries in these regions are implementing stringent regulations about maintenance and safety of oil & gas pipelines. As a result, demand for the pipeline monitoring systems is expected to be high in Europe and North America in the near future.
- The market in Middle East & Africa and Latin America is estimated to expand at a considerable pace during the forecast period. Increase in investment in offshore exploration activities by developing counties such as Brazil and Mexico is expected to drive the pipeline monitoring system market during the forecast period.
COVID-19 Impact on Pipeline Monitoring System Market
- Rapid spread of coronavirus is hampering the global pipeline monitoring system. Delays in projects due to unavailability of manpower due to lockdown across the world are adversely affecting the market. Furthermore, the pandemic has led to volatility in crude oil prices. This is anticipated to result in decline in investment in the oil & gas industry. Surge in global COVID-19 has significantly hampered investment and project timelines. Thus, COVID-19 is expected to restrain the market over the next two years.
Key Players Operating in the Market
- TransCanada PipeLines Limited
- Honeywell International Inc
- Elbit Systems Ltd.
- PT Testindo
- Huawei Technologies Co., Ltd.
- BAE Systems.
- Xylem Inc.
Global Pipeline Monitoring System Market: Research Scope
Global Pipeline Monitoring System Market, by Pipe Type
- Metallic Pipes
- Non-metallic Pipes
Global Pipeline Monitoring System Market, by Technology
- Smart Ball
- Magnetic Flux Leakage
- Fiber Optic Technology
Global Pipeline Monitoring System Market, End-users
- Oil & Gas
- Water & Wastewater
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.