Future Market Insights
Pipelines are flow lines that carry fluids which may be in a liquid or gaseous state. At times, they are laid in harsh and hazardous conditions and areas; hence, fostering a need for accurate pipeline monitoring systems to detect leakages, damages and other pipeline failures, which may lead to serious ecological and economic consequences. For example, a small water pipeline bursting or leaking is a small scale problem and will not affect the environment and ground water reservoir largely. However, if a crude oil or natural gas or chemical pipeline gets damaged and leaks, it may lead to severe ecological consequences.
Sometimes, the working conditions of the pipeline itself can induce damage or additional wear. Such pipelines need to be closely monitored from the data collection center or control room for exact pressure and temperature conditions inside the pipeline, to ensure effective operation of the whole plant. Pipelines are susceptible to internal and external corrosion, cracking, manufacturing flaws and third party damages. Thus, it has become crucial to closely monitor and control hazardous fluid carrying pipelines with pipeline monitoring systems to effectively and safely operate a plant. In order to sustain safe operation of a pipeline, remote, real-time and continuous assessment and monitoring of the pipelines is necessary. There are various underground and underwater pipelines being laid around the globe; hence, pipeline monitoring systems have become essential in the rapidly industrializing world.
In pipeline inspection and monitoring, the foremost objective is to locate and identify the exact damage area, followed by formulating an accurate solution; so maintenance personnel can take effective corrective action. Damaged pipelines, if not serviced on time, can create several operational problems, which will amount to a heavier cost eventually. An operation known as pigging is employed to remove blockages from long pipelines; herein a large sphere is introduced in the pipeline and eventually removed from pigging stations located at suitable checkpoints. Nowadays, industries are using intelligent pigs, which comprise sensors and electronic devices helpful in calculating the pipe’s thickness as well as in detecting damages and defects while travelling inside the pipeline. Electric readings are recorded for effective and accurate location of defective areas inside the pipelines. Such advancements and increasing automation in pipeline monitoring systems are expected to boost the overall pipeline monitoring system market in the coming future.
Pipeline Monitoring System market dynamics:
Large scale research and development divisions are invested in the pipeline monitoring system technology in oil & gas industries; thus, making pipeline monitoring systems significant tools in the petrochemical sector. Another essential factor facilitating growth of the pipeline monitoring system technology is the rising use of electronics and sensors in pipelines which will monitor and control operating conditions and thus, reduce damage from internal factors such as nozzle stress, corrosion, etc. The pipeline monitoring system market has evolved over the years to feature a multitude of advantages such as cost effectiveness, good longevity, enhanced reliability, and ease in maintenance.
Pipeline Monitoring System market segmentation:
The pipeline monitoring system market can be segmented by pipe type, technology, application and end use.
The pipeline monitoring system market can be segmented on the basis of pipe type as:
The pipeline monitoring system market can be segmented on the basis of technologyas:
The pipeline monitoring system market can be segmented on the basis of end use as:
Pipeline Monitoring System Market: Regional Outlook:
The pipeline monitoring system market can be divided into seven different geographical regions/divisions such as North America, Latin America, Western and Eastern Europe, Asia-Pacific Excluding Japan (APEJ), Japan, Middle East and Africa. North America, Europe and MEA regions have vast oil fields and chemical industries, hence long pipelines are required for the transportation of fluids here. Owing to this, the pipeline monitoring systems market is forecasted to grow in all the above regions. In the Asia-Pacific region, countries like India and China have increased the use of pipeline monitoring system technology in the petrochemical industry for human safety and comfort. Based on the above factors, the pipeline monitoring system market is forecasted to grow with a high CAGR over the forecast period.
Pipeline Monitoring System: Key Players
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