Product ID: SQMIG45O2023
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 Insights
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 expansion of the pipeline monitoring system market is attributed to the escalating installations of pipelines employed for the global transportation and distribution of oil and gas resources. This growth is further propelled by the mounting occurrences of leakages due to pipeline corrosion, thereby underscoring the imperative for pipeline monitoring systems. To curtail wastage, minimize environmental impact, and bolster safety, oil and gas manufacturers are swiftly embracing monitoring solutions. The integration of leak detection systems has ushered in a realm of safety, operational feasibility, real-time analysis, and heightened performance, largely attributed to the augmented pipeline infrastructure.
Notably, the deployment of pipeline monitoring and detection systems has yielded a multifaceted impact, encompassing the reduction of geo-hazards, internal leakage, ruptures, and thefts. Moreover, the introduction of pigging technology, seamlessly assimilated into both established and emerging pipelines, exerts a positive influence on market growth. This innovative technology undertakes a spectrum of operations, ranging from maintenance and inspection to dimensioning and pipeline testing.
The applications of pipeline monitoring systems span a diverse array, including plants, refineries, wet gas, crude pipelines, offshore platforms, and pipeline terminals. These systems facilitate the precise, real-time assessment of parameters such as internal corrosion, fluid characteristics, and gas content. The progression of technological elements within pipeline infrastructure, including Distributed Vibration Sensing (DVS)/Distributed Acoustic Sensing (DAS), Distributed Temperature Sensing (DTS), and Programmable Logic Controller (PLC), has significantly enriched downstream monitoring capabilities, interface intuitiveness, and detection algorithms. This evolving technological prowess, seamlessly embedded within monitoring systems, forms a formidable driving force behind the robust expansion of the pipeline monitoring system market.
US Pipeline Monitoring Systems Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Pipeline Monitoring Systems Market Report Snapshots
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