DUBLIN, Aug. 15, 2014 /PRNewswire/ -- Research and Markets has announced the addition of the "Global Oil and Gas Pipeline Leak Detection Market Forecast and Opportunities, 2019" report to their offering.
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Increasing demand for fuel worldwide has been driving expansion in the oil & gas pipeline network across the globe. However, such rapid expansion in pipeline network also poses huge threats as the risk of pipeline leakage increases significantly. As oil and gas pipelines are loaded with hazardous material, a single leak can transform into a potential disaster. Leakage from pipelines can result in major accidents, as has been observed in several incidences in the past. Pipeline material failure and corrosion have been the major causes of leakage in oil and gas pipelines.
Pipeline leakages cause significant losses for the company, including monetary and in the form of lost goodwill. Often, negligent companies are highly penalized for the severe damages caused by oil spills or gas leakage. Besides losses to the company, incidences of pipeline leakage cause adverse damage to the environment. With growing number of oil and gas exploration activities globally as well as increasing environmental concerns, the demand for oil & gas pipeline leak detection systems is expected to surge during the forecast period. Pipeline leak detection system comprises various components, often provided as a turn-key solution by majority of players, which are integrated with a monitoring system to provide efficient and effective leak detection.
According to Global Oil & Gas Pipeline Leak Detection Market Forecast & Opportunities, 2019 indicates that the global market for oil & gas pipeline leak detection systems is forecast to reach USD2.5 billion through 2019. The report discusses four key leak detection technologies that include flow monitoring, pressure monitoring, fiber optic sensors and infra-red leak detection, which is used in the detection of leakages in buried as well as un-buried hydrocarbon pipelines. The demand for leak detection systems is expected to grow steadily across all regions globally, with Middle East & Africa likely to exhibit the fastest growth during the forecast period.
The MEA region has been witnessing strong growth in the oil and gas sector in recent years, which has led to large-scale expansion of pipeline network in the region, particularly Middle East, thus benefitting the market for pipeline leak detection systems. The Americas captured the largest share in the global leak detection market, a trend likely to continue in the next five years. Some of the leading players in the global leak detection market include Siemens, Pure Technologies, Schneider Electric, Honeywell International and Perma-Pipe among others.
Key Topics Covered:
1. Research Methodology
2. Analyst View
3. Global Oil & Gas Pipeline Leak Detection Market Outlook
4. Americas Oil & Gas Pipeline Leak Detection Market Outlook
5. Europe Oil & Gas Pipeline Leak Detection Market Outlook
6. Asia-Pacific Oil & Gas Pipeline Leak Detection Market Outlook
7. Middle East & Africa Oil & Gas Pipeline Leak Detection Market Outlook
8. Market Drivers & Constraints
9. Market Trends & Developments
10. Policy & Regulatory Landscape
11. Competitive Landscape
12. Strategic Recommendations
Companies Mentioned:
- ATMOS International
- Asel-Tech, Inc.
- Energy Solutions International
- FLIR Systems, Inc.
- Honeywell International, Inc.
- Krohne Messtechnik GmbH
- PSI AG
- Pentair Ltd.
- Perma-Pipe, Inc.
- Pure Technologies Limited
- Schneider Electric SA
- Siemens AG
For more information visit http://www.researchandmarkets.com/research/qqfn9l/global_oil_and
Media Contact: Laura Wood, +353-1-481-1716, press@researchandmarkets.net
