Global Pipeline Safety Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
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Global Pipeline Safety Market: Overview
"The Pipeline Safety 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."
Petroleum products such as natural gas, crude oil, and refined products are transferred through pipelines over the long distance. Pipelines are referred as the safest and most preferred mode of transportation to carry oil and gas products to various distribution centers. The pipeline safety measures need to be taken to enable a pipeline framework to analyze, monitor, and control the network connectivity.
According to the document published by the National Transportation Safety Board (NTSB), pipelines are the most efficient and safest mode of transporting petroleum products and natural gas.
Global Pipeline Safety Market: Dynamics
Increasing oil & gas exploration and drilling activities and rising investments in the oil & gas sector are some of the major factors expected to drive growth of the global pipeline safety market. In addition, increasing incidences of chemical & gas leakage, technological advancements such as laser scanning, smart pigging, and acoustic leak detectors, along with safety and recovery protocol to protect and recover safety issues are some other factors expected to fuel growth of the target market. Moreover, an increasing number of terrorist attacks, number natural calamities, coupled with ongoing up-gradation of drilling sites, refineries, and exploration activities are also expected to propel growth of the target market during the forecast period.
However, online hacking and cyber-attacks are major factors that may hamper growth of the global pipeline safety market over the forecast period.
Global Pipeline Safety Market: Segment Analysis
Among the technology and solution segments, the pipeline monitoring system and leakage detection segments are projected to hold a significant share in the market over the forecast period.
Among the service segments, the repair and maintenance segment is expected to account for major revenue share over the forecast period.
Among the vertical segments, the natural gas segment is projected to contribute a major share in terms of revenue in the global market
Global Pipeline Safety Market: Regional Analysis
The market in the Asia Pacific is estimated to contribute a major share in terms of revenue in the global market. This is attributed to technological advancements and increasing pipeline projects in India and China. Furthermore, increasing investment in oil and gas pipeline infrastructure and increasing research & development activities are some factors expected to boost growth of the target market. Also, increasing import and export activities of oil & gas along with stringent regulatory and environmental standards are some other factors expected to drive growth of the target market in the region.
The markets in Europe and North America are projected to grow at a significant rate over the forecast period, owing to ongoing constructing of new pipelines in onshore as well as offshore applications along with high demand for pipeline safety solutions.
Global Pipeline Safety Market Segmentation:
Segmentation by Technology & Solutions:
- Perimeter intrusion detection
- Secure communication
- Satellite monitoring
- Video surveillance
- SCADA for pipelines
- Pipeline monitoring system
- Leakage detection
- External threat
- Pig tracking
- Integrated fiber optics monitoring
- Industrial control system security
Segmentation by Services:
- Professional services
- Consulting services
- Risk management
- Repair and maintenance
- Pipeline integrity management
Segmentation by Vertical:
- Natural gas
- Crude oil
- Refined products
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- ABB Group
- General Electric
- Honeywell International Inc.
- Schneider Electric Se
- Siemens AG
- BAE Systems
- Future Fiber Technologies
- Huawei Technologies Co. Ltd.
- Thales Group
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