Global Pipeline Monitoring Systems Market

Global Pipeline Monitoring Systems Market Size, Share, Growth Analysis, By Technology(PIGs, Smart Ball), By Application(Leak Detection, Operating Condition), By Pipe Type(Metallic, Non-metallic) - Industry Forecast 2024-2031

Report ID: SQMIG45O2023 | Region: Global | Published Date: March, 2024
Pages: 197 | Tables: 97 | Figures: 76

Global Pipeline Monitoring Systems Market News

  • In May 2021, a strategic cooperation pact was inked between Huawei and SINO-PIPELINE International in Shenzhen.
  • In March 2021, the merger between TC Energy Corporation (TC Energy) and TC PipeLines, LP (TCP) was successfully concluded as per the terms laid out in the merger agreement and plan, dated December 14, 2020.
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Global Pipeline Monitoring Systems Market size was valued at USD 15.62 billion in 2022 and is poised to grow from USD 16.82 billion in 2023 to USD 30.45 billion by 2031, growing at a CAGR of 7.70% during the forecast period (2024-2031).

The global pipeline monitoring systems market boasts a dynamic and competitive landscape, defined by the fusion of cutting-edge technology and an ever-growing emphasis on pipeline safety and operational optimization. Established industry players like Honeywell, Siemens, and General Electric lead the forefront with their innovative monitoring solutions. These industry giants leverage advanced sensors, data analytics, and remote monitoring capabilities to ensure real-time insights into pipeline integrity and performance. 'Siemens AG', 'Honeywell International Inc.', 'Schneider Electric SE', 'Emerson Electric Co.', 'ABB Ltd.', 'General Electric Company', 'Enbridge Inc.', 'TransCanada Corporation (now known as TC Energy)', 'Atmos International', 'Baker Hughes Company', 'Pure Technologies Ltd. (Acquired by Xylem Inc.)', 'PSI AG', 'Perma-Pipe International Holdings, Inc.', 'Siemens AG', 'Senstar Corporation', 'Yokogawa Electric Corporation', 'OptaSense (QinetiQ Group)', 'Pentair plc', 'ClampOn AS', 'Rohrback Cosasco Systems (Acquired by Halma plc)'

Expanding pipeline networks, particularly in the oil, gas, and water sectors, drive the demand for effective monitoring systems to ensure safe and efficient transportation of resources.

Remote Monitoring and Control: Remote monitoring solutions are gaining traction, allowing operators to monitor pipelines from a centralized location, enhancing operational efficiency and reducing the need for manual intervention.

In 2022, North America emerged as the dominant player, commanding a substantial market share of approximately 34.4% in terms of value. Renowned for its historical prominence, North America has consistently occupied a pivotal position within the pipeline monitoring systems market. The region's unparalleled commitment to innovation has propelled it to the forefront, boasting remarkable strides in both product excellence and real-world applicability. Notably, North America's robust oil and gas exploration and production endeavors have catalyzed a heightened demand for cutting-edge pipeline monitoring systems.

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