Oil and Gas Pipeline Leak Detection Equipment Market Growth, Trends and Forecast by 2031

MARKET OVERVIEW

Leaks in oil and gas pipelines must be prevented if the world's energy needs are to be met. Leak occurrences result in environmental harm and significant financial penalties for the organizations. Many governments have formulated rules and legislations that make maintenance and deployment of leak detection systems necessary due to the negative impacts of leakages. A rule was published by the Pipeline and Hazardous Materials Safety Administration (PHMSA) to strengthen guidelines for hazardous liquid pipelines. It created new compliance standards for system operators and owners to maintain pipe integrity and stop leak mishaps. Leakages are mostly caused by pipeline corrosion, which largely depends on the fluid conveyed.

MARKET SCOPE

The "Global Oil and Gas Pipeline Leak Detection Equipment Market Analysis to 2031" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the oil and gas pipeline leak detection equipment market with detailed market segmentation by location, technology, and geography. The report provides key statistics on the market status of the leading oil and gas pipeline leak detection equipment market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•  Based on location, the market is segmented into onshore and offshore.
  
•  Based on technology, the market is segmented into acoustic sensors, flowmeters, cable sensors, vapour sensors, and others.
  

MARKET DYNAMICS

Drivers:

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•  an increase in the incidents of leakage in oil & gas pipelines and storage tank production facilities
  
•  Advancement in sensor technologies is driving the growth of the oil and gas pipeline leak detection equipment market.
  

Restraints:

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•  High cost of setup may hinder the growth of the oil and gas pipeline leak detection equipment market.
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 concerning five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The oil and gas pipeline leak detection equipment market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both the demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social, and technological factors affecting the oil and gas pipeline leak detection equipment market in these regions.

IMPACT OF COVID-19 ON OIL AND GAS PIPELINE LEAK DETECTION EQUIPMENT MARKET

The growth of the oil and gas pipeline leak detection equipment market slowed during the pandemic. The sourcing of components was impacted due to the pandemic. Companies had to shut down their manufacturing plants and services as lockdowns were imposed to contain the pandemic. This resulted in increased costs of raw materials due to the shortage of supplies. However, the oil and gas pipeline leak detection equipment market is expected to grow in the forecast period.

MARKET PLAYERS

The report covers key developments in the oil and gas pipeline leak detection equipment market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of the business and customer base of market players. The market players from the oil and gas pipeline leak detection equipment market are anticipated to have lucrative growth opportunities in the future with the rising demand in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the oil and gas pipeline leak detection equipment market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•  Atmos International (Atmos)
  
•  ClampOn AS
  
•  Honeywell International Inc
  
•  KROHNE
  
•  Laser Diagnostic Instruments AS
  
•  Messtechnik Unternehmensgruppe
  
•  PERMA-PIPE International Holdings, Inc.
  
•  Schneider Electric
  
•  Siemens AG
  
•  TTK S.A.S.
  

The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.

Oil and Gas Pipeline Leak Detection Equipment Report Scope