Global Oil and Gas Pipeline Leak Detection Equipment Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028

Global Oil and Gas Pipeline Leak Detection Equipment Market: Overview

“The global Oil and Gas Pipeline Leak Detection Equipment Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

Oil and gas pipeline leak detection equipment is used to detect and localize leaks. The leakage of oil & gas into the environment can cause substantial damage of property and surrounding life forms.

Global Oil and Gas Pipeline Leak Detection Equipment Market: Dynamics

Increasing oil & gas exploration activities, growing pipeline infrastructure activities, along with regulatory policies in developed and developing economies are some of the major factors expected to boost growth of the oil and gas pipeline leak detection equipment market. In addition, existing and proposed regulations related to Leak Detection and Repair (LDAR) at oil & gas production facilities, and increasing focus on advanced and portable leak detectors to maintain higher safety standards are expected to drive revenue growth of the target market.

Recently, US Department of Transportation and Pipeline and Hazardous Materials Safety Administration (PHMSA) implemented Liquids Mega Rule to install leak detection systems in all hazardous gas or liquid pipelines facilities. Other factors such as expansion and restoration of existing and new construction projects across the world are some of the other factors anticipated to bolster growth of the target market. Moreover, expansion of industries, rapid urbanization, and continuous requirement of monitoring to mitigate leaks caused by corrosion are also expected to propel growth of the target market during the forecast period.

Global Oil and Gas Pipeline Leak Detection Equipment Market: Segment Analysis

Among the location segments, the offshore segment is estimated to hold significant share in the market over the forecast period. Among the type segments, the oil segment is contributing major revenue share in the global market. Among the equipment type segments, the flow meters expected to further fuel growth of the target market.

Oil and Gas Pipeline Leak Detection Equipment Market: Regional Analysis

North America oil and gas pipeline leak detection equipment market is expected to register significant share in terms of revenue over the forecast period. This is attributed to increasing demand for leak detectors in oil and gas sector and ongoing pipeline projects in various countries in this region. Moreover, increasing R&D activities and installation of smart leak detection systems are expected to boost growth of the target market in North America during the forecast period. Further, countries such as China and India have experienced a significant rise in oil and gas pipeline leak detection equipment market, owing to the increasing import and export activities of oil & gas, technological advancements, and stringent regulatory and environmental standards across the region.

Whereas, the market in Europe is expected to witness significant growth in the oil and gas pipeline leak detection equipment market owing to numerous government initiatives and the developments made by major market players operates in the target market.

Global Oil and Gas Pipeline Leak Detection Equipment Market Segmentation:

Segmentation by Location:

• Onshore
• Offshore

Segmentation by Type:

• Oil
• Gas

Segmentation by Equipment Type:

• Fiber optic sensors
• Pressure sensors
• Infra-red detection
• Flow meters

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa