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Oil & Gas Pipeline Leak Detection Equipment Market Is Estimated To Reach $4.26 Billion By 2026
Global Oil & Gas Pipeline Leak Detection Equipment Market Report, published by Accurize Market Research, forecast that the global market is expected to reach $4.26 Billion by 2026, growing at a CAGR of 6.8% from 2019 to 2026. North America dominated the global oil & gas pipeline leak detection equipment market in 2018 and anticipated to hold the major market share until 2026.
Market Introduction and Market Dynamics
The dependency on these pipelines to delivery consistently is mounting owing to the surge in demand for oil and gas.
Leak detection systems are progressively being used in aging pipes, owing to various factors such as strict government regulations, higher risk of leakage, and being more prone to corrosion. The rapid growth of the oil and gas sector, escalating demand for energy, and increased investment in offshore energy resources are the major factors driving the oil & gas pipeline leak detection equipment market. Further, the need for proper leak detection techniques to avoid potential disaster and accidents would provide several growth opportunities in forecasted years. In addition, the construction of new pipelines, and the expansion of existing pipelines are also projected to fuel the market during the forecast years.
Market Segmentation and Crisp Analysis
The global oil & gas pipeline leak detection equipment market has been segmented into type and technology. The oil and gas are the further classifications of the type segment. The technology segment includes fiber optic sensors, pressure sensors, infra-red detection, flow meters, and others. By geography, the market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). The pressure sensors and fiber optic sensors accounted for the majority of the market share in 2018. The market for the flow meter segment is anticipated to grow moderately in the coming six to seven years.
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Regional Segmentation and Crisp Analysis
The global oil & gas pipeline leak detection equipment market has been segmented by geography into North America, Europe, Asia-Pacific and Rest of the World (RoW). North America covers the U.S., Canada, and Mexico, while Europe covers the UK, Germany, France, Italy, and the Rest of Europe. China, Japan, India, Korea, and Rest of Asia-Pacific have been analyzed under the Asia-Pacific market. The rest of the world includes Central & South America, the Middle East, and Africa. North America dominated the global market accounting for the largest market share of around in 2018, and projected to continue its dominance during the forecast period 2019 – 2026. The growth is attributed to the presence of a developed economy like the U.S. The Middle East and Africa are projected to have an attractive growth rate owing to rising oil and gas activities across the regions.
Manufacturers Competitive Analysis
The top players operating in the market are frequently investing in research & development and are planning to increase their presence in the untapped emerging economies. Major key players profiled in the report are Siemens AG, Honeywell International Inc., PSI AG, FLIR Systems Inc., Perma-Pipe Inc., KROHNE Messtechnik GmbH, Schneider Electric SE, and Atmos International, among others.
Scope of the Report
The scope of the report covers an in-depth analysis of the market in terms of both qualitative and quantitative analysis across the segments as well as cross-sectional analysis of the segments including the geographies and its countries. Key companies operating in this market and their company profile along with the market share analysis and competitive scenario is also the part of the report. Furthermore, different industries' clients’ information has been provided in the report which is very important for the manufacturers. Manufacturers’ data, including revenue, shipment, revenue share, shipment share, and gross profit have been also included, which provide a better understanding of the market competition.
Destined by the dedicated team of analysts and experts, we are envisioned to provide you our best in order to plan you're next strategic across several industry verticals. AMR has developed advanced analyst tools and data models to enhance and augment the analysis process. Corresponding to markets, where there is momentous lack of information and estimates, AMR’s team of experts and analysts practice specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to inspect the prospects and opportunities existing in the market to achieve a specific forecast of the market.
The Key Opinion Leaders (KOLs) of the respective industry are interviewed and their insights are matched with our findings and database we have and thus we validate our estimates, forecast and provide you the analysis. We put together our effort and prepare an inclusive questionnaire depending on the title of the market we are tracking and extract the important information we require to validate our findings. Also, we have the top five global knowledge partners such as Bloomberg, S&P Global, and Dow Jones, among others for ultimate data validation, prepared by our research team.
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