Global Oil and Gas Pipeline Leak Detection Equipment Market Likely to Reach US$ 3.65 Bn by 2024

Transparency Market Research has released a new market report titled “Oil and Gas Pipeline Leak Detection Equipment Market (Technology- Mass-Volume Balance, Acoustic/Ultrasonic, Fiber Optics, Vapor Sensing, Others), (Location- Onshore, Offshore), (Equipment Type- Flowmeters, Acoustic Sensors, Cable Sensors, Others) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2016–2024. According to the report, the global oil and gas pipeline leak detection equipment market was valued at US$ 2.02 Bn in 2015 and is expected to reach US$ 3.65 Bn by 2024, expanding at a CAGR of 6.8 % from 2016 to 2024.

Oil and gas pipeline leak detection equipment are employed to detect leakages in oil and gas pipelines. Since oil and gas are highly volatile fluids therefore there transportation requires extra safety and care. With aging pipeline infrastructure globally risks of oil and gas leakages are severally high which could damage both flora and fauna in the region along with the whole ecosystem of the area. The oil and gas pipeline leak detection equipment help pipeline operators to detect leakages in there pipelines at an early stage before it could turn into a potential disaster.

Based on technology oil and gas pipeline leak detection equipment market can be classified into mass-volume balance, acoustic/ultrasonic, fiber optics, vapor sensing, and others. Mass-volume balance held substantial share in oil and gas pipeline leak detection equipment market in 2015 and is expected to maintain its lead in the market during the forecasted period.

By location onshore dominated the oil and gas pipeline leak detection equipment market in 2015 and is anticipated to dominate the market during the forecasted period. Stringent environmental regulations regarding oil and gas spills and huge compensations along with the business losses due to leakages to pipeline operators is likely to drive the oil and gas pipeline leak detection equipment market during the forecast period.

In equipment type segment flowmeters lead the oil and gas pipeline leak detection equipment market with significant share in 2015 and is predicted to control the market during the forecast period. The requirement for more reliable, accurate and sensitive leak detection equipment among the pipeline operators is also expected to propel the oil and gas pipeline leak detection equipment market during the forecast period.

Browse the full report at: http://www.transparencymarketresearch.com/oil-gas-pipeline-leak-detection-equipment-market.html

The oil and gas pipeline leak detection equipment market in Middle East & Africa is projected to expand significantly during the forecast period. Increasing number of upcoming pipeline projects in the region is likely to boost the market in the region. It is probably the most attractive region during the forecast period, followed by Asia Pacific. North America held the lions share in the oil and gas pipeline leak detection equipment market but is expected to grow at moderate rate.

The key players of oil and gas pipeline leak detection equipment market include Siemens AG, PSI AG, KROHNE Messtechnik GmbH, Honeywell International Inc., Schneider Electric SE, ATMOS International, Perma-Pipe Inc., Pentair Thermal Management, FLIR Systems Inc., Pure Technologies Ltd., TTK-Liquid Leak Detection Systems, and AREVA NP.

The report segments the global oil and gas pipeline leak detection equipment market as:

Oil and Gas Pipeline Leak Detection Equipment Market – Technology Analysis

  • Mass-Volume Balance

  • Acoustic/Ultrasonic

  • Fiber Optics

  • Vapor Sensing

  • Others

Oil and Gas Pipeline Leak Detection Equipment Market – Location Analysis

  • Onshore

  • Offshore

  • Oil and Gas Pipeline Leak Detection Equipment Market – Equipment Type Analysis

  • Flowmeters

  • Acoustic Sensors

  • Cable Sensors

  • Others

Oil and Gas Pipeline Leak Detection Equipment Market – Regional Analysis

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • France

    • Germany

    • Italy

    • Spain

    • Rest of Europe

  • Asia Pacific

    • China

    • India

    • Japan

    • ASEAN

    • Rest of Asia Pacific (APAC)

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America (LATAM)

  • Middle East & Africa

    • South Africa

    • Egypt

    • GCC

    • Rest of Middle East & Africa (MEA)

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