The global pipeline monitoring system market size is expected to reach USD 28.22 billion by 2032, according to a new study by Polaris Market Research. The report “Pipeline Monitoring System Market Share, Size, Trends, Industry Analysis Report, By Technology (Ultrasonic Testing, PIGS, Smart Ball, Magnetic Flux leakage Technology and Others), Pipe Type, Application, By Region, And Segment Forecasts, 2023-2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The market is booming due to the new technology innovation for early detection of corrosion or erosion in the pipeline, especially in gas pipeline. These technology help to gas and oil manufacture to find the workload of pipeline. The increasing number of gas and pipeline leakage in production and storage are increase the demands for pipeline monitoring system during forecast period.
For instance, in October 2022, Klarian, announced agreement with the InfinyOn. InfinyOn will drive innovation into the sectors to draw real time insights and for Klarian has developed the “Digipipe”, a pipeline monitoring solution with a performance dashboard which integrates with the “InfinyOn”, to stream, transform & load events in the real-time business scenario.
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The market are driven due to new technology innovation like IoT and wireless sensor network, they are monitors and predicting when it need to maintenance. Distributed Acoustic Sensing (DAS) is used to continuous monitoring of pipelines in under water leaks and faults. Seismic streamers are used to locate proper location for drilling which help reduce the risk of threatening consequences. Perimeter Intrusion Detection Systems (PIDS) in oil and gas industry are help to protect and maintain the security of the site and the integrity of production.
Pipeline monitoring system Market Report Highlights
- Ultrasonic segment is anticipated to grow at a significant CAGR over the forecast period owing to the rising use of ultrasonic to detect leakage with the help of differentiating and characterizing leak sounds from normal water flow.
- Metallic pipes accounted for considerable share of the total global revenue share which is accelerated by the emerging of handling high-pressure and temperature applications for underground pipeline networks and under water pipeline networks.
- The leak detection segment is expected to hold the significant market share over the forecast period due to the used of leak detection solutions to detect real-time analysis via land-based and air surveillance to monitor pipelines transferring oil & gas products.
- North America is accounted to dominate the market in 2022, which is accelerated by availability of major markets for pipeline monitoring systems, in terms of product innovation, both in terms of quality and applicability, it has been a global leader.
- The global players include ABB Ltd.; Emerson Electric; Generic Electric; Honeywell International; and Huawei Investment.
Polaris Market Research has segmented pipeline monitoring system market report based on technology, pipe type, application, and region:
Pipeline monitoring system, Technology Outlook (Revenue – USD Billion, 2019-2032)
- Smart Ball
- Magnetic Flux Leakage Technology
- Fiber Optic Technology
- Mass Volume/Balance
- Vapor Sensing
- Others (Beta Foil Technology and Leo Technology)
Pipeline monitoring system, Pipe Type Outlook (Revenue – USD Billion, 2019-2032)
Pipeline monitoring system, Application Outlook (Revenue – USD Billion, 2019-2032)
- Leak Detection
- Operating Condition
- Pipeline Break Detection
Pipeline monitoring system, Regional Outlook (Revenue – USD Billion, 2019-2032)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa