Pipeline Monitoring System Market

Pipeline Monitoring System Market Snapshot

The global Pipeline Monitoring System Market is currently valued at around US$ 14926.9 Million, and is anticipated to progress at a CAGR of 6.8% to reach US$ 28819.2 Million by 2033. The rising pipline projects coupled with positive outlook for oil & gas industry will optimistically impact the pipeline monitoring system market.

Geographically, developing economies are anticipated to continue to be the prime forces behind future global oil consumption. Also, their expanding populations and transportation industries, as well as their weaker investment in sustainable energy has resulted in low availability of alternatives to oil.

As midstream companies implement digital solutions throughout pipeline design and construction, they can achieve considerable operational gains and lower the capital cost of the sector. Additionally, the natural gas sector is starting to make use of technology to upgrade and maintain systems with financial and time commitments that enable data collecting and innovative solutions.

Nikhil Kaitwade

Principal Consultant

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Historic Market Outlook for Pipeline Monitoring System

The market for Pipeline Monitoring System is predicted to reach US$ 14926.9 Million by 2023 after growing at a CAGR of around 6.8% from 2018 to 2022. Historically, the market faced significant challenges such as an economic slowdown in 2019 and the COVID-19 pandemic in 2020, resulting in a significant decrease in sales and the postponement of pipeline projects. Although, the oil & gas sector revived in the year 2022, it was again impacted by the Ukrain Russia conflict, which resulted in significant increase in crude oil prices.

The increased volatility and operational cost in the oil & gas market due to increasing prices, transition to cleaner fuel along with Ukraine-Russia conflict, oil & gas companies are focusing on building and upgrading their pipeline infrastructure to enhance monitoring, maintain, and optimize assets for better availability, utilization, and performance.

Growth in industrialization and globalization are key factors propelling the sales of pipeline monitoring systems. The market is expanding as a result of the growing trend of smart products and solutions that can control, monitor, and optimise operations. The market is about to be disrupted by next-generation technologies like IoT, acoustic sensors, and connected pipes.

What are the Various Factors Driving the Pipeline Monitoring System Market?

An considerable initial investment is needed to build pipeline infrastructure. Due to the increased demand for energy globally, oil and gas reserves are drying up. Businesses are creating highly effective facilities to enhance production technology and reduce operating costs in order to handle this challenge. Today, companies that operate in the oil and gas industry must establish monitoring systems throughout their infrastructure. Oil and gas operators all over the world have increased their spending on infrastructure and network monitoring as a result of the increased terrorist threats and cyberattacks on systems that support the oil and gas industry.

Modern pipeline facilities make extensive use of information and communication technologies like Supervisory Control and Data Acquisition (SCADA), Intelligent Video Surveillance (IVS), Human Machine Interface (HMI), and Programmable Logic Controller (PLCs).

When using these technologies, oil and gas businesses can oversee and run their operations remotely thanks to the creation of a digital pipeline infrastructure. In order to avoid making systems susceptible to cyberattacks and protect networks, businesses are increasing their investment in network monitoring and installing comprehensive monitoring solutions.

Which Factors Challanges are Faced by Pipeline Monitoring System Market Stakeholders?

Decreases in finance for pipeline infrastructure has resulted deterioration and leaks in pipelines. Pipelines for water, oil, gas, and chemical transportation are among the many industries where ageing has become a problem.

Due to environmental concerns including chemical management, air and water quality, offshore regulation, and oil and gas drilling, the industry has come under fire. Private parties have brought several lawsuits regarding pipeline leaks, infrastructure and plant expansions, endangered species, oil and gas drilling, and other issues, while the courts continue to review and contest federal and state restrictions.

The lack of financial help for research and development is the key challenges faced by the market stakeholders. Numerous small and medium-sized utilities are hesitant to cover the high initial expenses of these systems. Also, pipeline infrastructure progress has been very sluggish in recent few years. Pipelines, valves, and metres are examples of infrastructure components that last for decades after installation. Utilities are reluctant to replace pipeline systems since the existing technologies are pricey and durable.

What is the Regional Analysis of the Pipeline Monitoring System Market Share?

East Asia and South Asia Pacific will emerge as important markets for pipeline monitoring systems.Increasing investment by China, India, Indonesia in Oil & Gas and Water and Wastewaster sector will present the global players will lucrative opportunities in the forecast period.

North America leads the market with around one third of the market being captured by the region. The USA and Canada have been prominent oil producers since last few years, which has resulted in significant investment in pipeline infrastructure. The region has been a hotbed for innovation in pipeline infrastructure technologies like pipeline monitoring systems.

Europe has been witnessing energy criss, owing to ongoing Ukrian Russia conflict. The energy prices has jumped at record high levels. In 2022, Russian gas exports to Europe through pipelines reached their bottom level since the end of the Soviet Union as supply to its key customers fell as a result of the crisis in Ukraine and possible sabotage that destroyed a significant pipeline. The market has been witnessing cyclic growth in the region and next few quarters are estimated to remain same.

Market Competition

The players in the global market will have additional opportunities as a result of the growing demand across water and wastewater sectors. Market competitors for Pipeline Monitoring Systems compete with one another as a result of the government's shifting rules and regulations. As a result, it comes to product development, and they are also attempting to acquire and merge with top players to improve their market position.

Leading player in the market are focusing on emerging countries of Asia Pacific to cater the growing demand from pipeline projects for monitoring technologies.

Scope of the Report

Key Segments Profiled in the Pipeline Monitoring System Market Report Pipeline Monitoring System Market

By Product Type, Pipeline Monitoring System Market is segmented as:

• Metallic
• Cast Steel Pipe
• Stainless Steel Pipe
• Aluminium Pipe
• Other Metal Pipes(Cast Iron Pipe, Corrugated Steel Pipe,etc.)
• Non-Metallic
• Plasyic Pipe
• Glass Pipe
• Other Pipes
• Concrete Pipes
• Asbestos Cement Pipes

By Technology, Pipeline Monitoring System Market is segmented as:

• Ultrasonic Testing
• PIGs
• Small Ball (Inteligent Pigs)
• Magnetic Flux Leakage Technology
• Others

By End Use, Pipeline Monitoring System Market is segmented as:

• Petrochemical Industries
• Oil Industry
• Natural Gas
• Biofuel
• Water & Wasterwater Tratement Plants
• Chemical Industries
• Others

By Region, Pipeline Monitoring System Market is segmented as:

• North America
• Latin America
• Western Europe
• Eastern Europe
• Central Asia
• Russia & Belarus
• Balcan & Baltic Countries
• East Asia
• South Asia & Pacific
• Middle East and Africa