DUBLIN, Dec 1, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the "Pipeline Safety Market by Technology and Solution (Pipeline Monitoring Systems, Secure Communication, Perimeter Intrusion Detection, SCADA for Pipelines, Intrusion Control Systems Security), Service, Vertical, and Region - Global Forecast to 2021" report to their offering.
The pipeline safety market size will grow from USD 5.57 Billion in 2016 to USD 8.67 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 9.3%
Need for sustainable use of resources and increased spending by oil & gas companies for infrastructure and network protection are some of the key factors driving the market. The other driving forces include the expansion and up-gradation of refineries, drilling sites, and exploration.
The pipeline safety market is broadly classified into technologies and solutions, services, verticals, and regions. The technologies and solutions segment is further divided into perimeter intrusion detection, secure communication, SCADA for pipelines, pipeline monitoring solutions, and intrusion control system security. Compared to technologies and solutions, the services segment is expected to grow at a higher CAGR during the forecast period. The services in the pipeline safety market are aimed at enabling smart and coordinated decision-making processes and mitigating the risks and vulnerabilities of pipelines using efficient tools and techniques. Moreover, these services enhance risk management techniques and help to meet the end-to-end needs of all the verticals.
The Supervisory Control and Data Acquisition (SCADA) solution for pipelines is expected to grow at the highest CAGR during the forecast period, as they are specifically focused on the needs of the oil and gas industry. Moreover, pipeline monitoring solutions offer flexibility and scalability to pipeline operators, which helps them to increase operational efficiency and data bandwidth as per their requirement.
The pipeline safety market is segmented across five regions, namely, North America, Asia-Pacific (APAC), Europe, Middle East and Africa (MEA), and Latin America, wherein detailed analysis is provided. The analysis shows that the spending on the market is increasing globally due to the increasing investment in oil and gas pipeline infrastructure, especially in developing regions. North America is projected to dominate the pipeline security market during the forecast period owing to technological advancements and early adoption by oil and gas industries in the region.
The market in APAC is expected to grow at the highest CAGR between 2016 and 2021. The reason for this is the increasing pipeline projects in China, Turkmenistan, Kazakhstan, and India. In addition, the rise in industrial automation in APAC has accelerated the growth of pipeline safety in this region. Pipeline safety will have extensive growth opportunities in the Middle East owing to the huge infrastructure investments in manufacturing, transportation, and utilities.
The adoption of pipeline safety solutions and services is growing at a high pace in the developing regions, such APAC and MEA. However, lack of allied infrastructure, redundant ICT technology, and lack of awareness about current ICT trends prevent these regions from adopting pipeline safety solutions and services. Moreover, the growing population and political instability in the Middle East act as major restraining factors for the growth of the market. However, increase in pipeline infrastructure across the globe is expected to provide significant growth opportunities in the pipeline safety market.
On a strategic front, many companies are utilizing different growth strategies, such as mergers & acquisitions, partnerships & collaborations, and product developments to increase their share in the market. For instance, in April 2016, Schneider Electric, a French multinational company, entered into a partnership with Berkana Resource Corporation, a global SCADA consulting company to develop a software solution with integral security and compliance support, while ensuring solutions meet the Pipeline and Hazardous Materials Safety Administration regulatory requirements.
On the acquisition front, in April 2013, Honeywell acquired RAE Systems, a leading gas detection company. This acquisition would help Honeywell to position its offerings across high-growth regions, as RAE Systems has a strong presence in China. A year earlier, Honeywell acquired Saia-Burgess Controls, a manufacturer of electronic components for automation engineering. This acquisition enhances Honeywell's intelligent building controls portfolio. It expands Honeywell's energy controls presence in Austria, Germany, and Switzerland. Some of the major technology vendors include ABB Group, General Electric, Schneider Electric, Huawei Technologies, Senstar, and Accenture.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Pipeline Safety Market Overview
6 Industry Trends
7 Pipeline Safety Market Analysis, By Component
8 Pipeline Safety Market Analysis, By Technologies and Solutions
9 Pipeline Safety Market Analysis, By Services
10 Pipeline Safety Market Analysis, By Verticals
11 Geographic Analysis
12 Competitive Landscape
13 Company Profiles
- ABB Group
- BAE Systems
- Future Fibre Technologies
- General Electric
- Honeywell International Inc.
- Huawei Technologies Co. Ltd.
- Schneider Electric SE
- Senstar, Inc.
- Siemens AG
- Thales Group
For more information about this report visit http://www.researchandmarkets.com/research/tl7z52/pipeline_safety
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