Oil & Gas Pipeline Leak Detection Market to Witness Significant Growth until 2025

Increasing concerns related to security of operations within oil & gas industry is expected to drive the growth of global oil & gas pipeline leak detection market

According to TechSci Research report, “Global Oil & Gas Pipeline Leak Detection Market By Component (Hardware, Software, Service), By Method of Leak Detection (Internal v/s External), By Type (Upstream, Midstream, Downstream), By Application (Onshore v/s Offshore), By End Use (Buried Pipelines, Subsea Pipelines, Refinery/Petrochemical Complex, Others), By Region, Forecast & Opportunities, 2025”, the global oil & gas pipeline leak detection market is expected to grow at a steady rate during the forecast period on account of the growing oil & gas exploration & production activities. Additionally, ageing pipelines which are more prone to corrosion and leakages, is further expected to propel the market growth through 2025. Furthermore, stringent government regulations for deployment and integration of pipeline leak detection system is expected to fuel the market growth over the next few years. Besides, in case of any leakage accident, the oil & gas companies are supposed to make hefty compensations. This in turn has increased the demand for pipeline leak detection systems, thereby driving the market growth. However, lack of advanced technologies especially in offshore leak detection might hamper the market growth through 2025. Moreover, retrofitting pipeline is difficult and expensive. This in turn might negatively impact the market growth over the next few years.

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The global oil & gas pipeline leak detection market is segmented based on component, method of leak detection, type, application, end use, company and region. Based on method of leak detection, the market can be split into internal and external. The external method of leak detection is further categorized into fiber optic leak detection, liquid sensing cable, vapor sensing cable and acoustic emission. Here, the acoustic emission segment is expected to register significant growth in the market owing to their widespread use in leak detection in single phase and multi-phase pipelines. This extensive use is mainly due to the benefits such as early & fast detection of leaks within large pipelines, use of sensors & software with minimum calibration, among others, associated with acoustic emission. Based on application, the market can be bifurcated into onshore and offshore. Here, the offshore segment is expected to dominate the market owing to the growing investments in offshore energy reserves.

Siemens AG, Honeywell International Inc., PSI AG, FLIR International, ClampOn AS, TTK Leak Detection System, Atmos International, Krohne Messtechnik GmbH, Schneider Electric Company, Synodon Inc and others are some of the leading players operating in global oil & gas pipeline leak detection market. The companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share.

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“North America is expected to dominate the global oil & gas pipeline leak detection market during the forecast period, owing to the increasing oil & gas exploration & production activities in the region. Additionally, stringent government regulations in the U.S. to implement leak detection systems in oil & gas pipelines is further driving the market growth in the region. Besides, presence of major players operating in the market in the North America is further expected to create lucrative opportunities for the market growth through 2025.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Oil & Gas Pipeline Leak Detection Market By Component (Hardware, Software, Service), By Method of Leak Detection (Internal v/s External), By Type (Upstream, Midstream, Downstream), By Application (Onshore v/s Offshore), By End Use (Buried Pipelines, Subsea Pipelines, Refinery/Petrochemical Complex, Others), By Region, Forecast & Opportunities, 2025”, has evaluated the future growth potential of global oil & gas pipeline leak detection market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global oil & gas pipeline leak detection market.

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