The Global Oil & Gas Pipeline Leak Detection System Market was valued at USD 1585.27 Million in the year 2021 with the Americas region dominating the regional market share.
The global market is driven by the factors such as increasing natural gas production, increasing trade of oil & gas products coupled with growing pipeline infrastructure and associated regulatory policies. Also, the rising expenditure of pipeline companies on maintenance of the ageing pipelines in the countries and escalating role of government in empowering the usage of leak detection measures to avoid disastrous leakage is driving the market growth.
The growing market of oil and gas, especially gas production in countries like the United States, China and India and increasing energy consumption across the globe are expected to drive the LDS market during the forecast period. Also, the oil & gas pipeline leak detection market is anticipated to witness significant growth because the incidence of leaks adversely affects the environment as well as the finances of the companies accountable to pay hefty amounts in the form of compensation or damage. Hence, rising awareness to prevent such leakages fuel the demand and also it is paramount for companies to install efficient detection methods.
However, the global oil and gas pipeline sector has been facing several hardships due to the Covid-19 pandemic-induced demand destruction and a weak global economic outlook. Consequently, delaying financial investment decisions (FIDs), slashing capital expenditure, and stalling avoidable projects have become a norm for several pipeline operators to sustain and tide over the current crisis. One of the primary measures that a majority of pipeline operators adopted to contain the losses is to delay (final Investment Decision) FIDs of upcoming projects. Driftwood Pipelineï¿½s FID, initially expected in 2020, is planned in 2021 as its developer, Tellurian Investments Inc. has been struggling to secure financing partners for its entire project. Similarly, Phillips 66 Partners, one of the joint developers of Ace pipeline, postponed FID on this project, which is likely to push the start of the project by a couple of years from the initially planned 2020.
Scope of the Report
ï¿½ The report presents the analysis of Oil & Gas Pipeline Leak Detection System Market for the historical period of 2018-2021, the estimated value for the year 2022 and the forecast period of 2023-2028.
ï¿½ The report analyses the Oil & Gas Pipeline Leak Detection System Market by Equipment (Thermal Imaging, Flow Meters, Pressure Sensors, Fiber Optics, Acoustic Sensors, Software Sensors)
ï¿½ The report analyses the Oil & Gas Pipeline Leak Detection System Market by Application (Offshore and Onshore)
ï¿½ The Global Oil & Gas Pipeline Leak Detection System Market has been analysed By Region (Americas, Europe, Asia Pacific, and MEA).
ï¿½ The Global Oil & Gas Pipeline Leak Detection System Market has been analysed By Country (United States, Canada, Mexico, Russia, United Kingdom, Germany, China, India, Indonesia and Australia).
ï¿½ The key insights of the report have been presented through the leading company shares. Also, the attractiveness of the market has been presented by region, by Equipment and by Application.
ï¿½ Also, the major opportunities, trends, drivers and challenges of the industry have been analysed in the report.
ï¿½ The report tracks competitive developments, strategies, and Major Equipment & Developments and Mergers & Acquisitions. The companies analysed in the report include Siemens AG, Honeywell International Inc., Xylem Inc., PSI AG, Perma-Pipe, Schneider Electric, Teledyne FLIR, Emerson, Schlumberger and SENSIT Technologies.
Key Target Audience
ï¿½ Oil & Gas Companies
ï¿½ Oil & Gas Leak Detection Technology Companies
ï¿½ Research and Development (R&D) Organizations
ï¿½ Government Bodies & Regulating Authorities
ï¿½ Investment Banks and Equity Firms
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