Oil & Gas Pipeline Leak Detection equipment market [2022-2029] | Industry Share, Growth, and Trends Forecast Analysis

Pune, India, Dec. 13, 2022 (GLOBE NEWSWIRE) — The rising number of leakage incidents reported around the world is driving the global oil and gas pipeline leak detection equipment market, says Fortune Business Insights in a report, titled “Oil and Gas Pipeline Leak Detection Equipment Market Size, Share and Global Trend By Location (Onshore, Offshore), By Technology (Acoustic Sensors, Flow meters, Cable Sensors, Vapour Sensors), And Geography Forecast Till 2026.” The increasing energy demand for natural gas, crude oil and refined products is contributing growth to the global oil and gas pipeline leak detection equipment market.

The global oil and gas pipeline leak detection equipment market because of the location, is segmented into onshore and offshore. Currently, the oil and gas pipeline leak detection equipment installed is more in number on onshore locations as compared to offshore locations. The offshore exploration activities have been on a rise in recent years. The utilization of leak detection equipment is also increasing at offshore locations. This factor is boosting the offshore segment.

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Oil and Gas Pipeline Leak Detection Equipment Market Growth Drivers:

Increasing Government Initiatives Towards Leak Detection Will Have a Positive Impact On the Market

The global oil and gas pipeline leak detection equipment market on the basis of technology is segmented into acoustics sensors, flowmeters, cable sensors, vapour sensors, and others. Conventionally, the flowmeters were used for the leak detection purpose, but with the advancements in technology other equipment have entered the market and are now dominating the market. Sensors and cables segment are the two leak detection equipment which is widely used and is predicted to rise in the forthcoming year.

Furthermore, the increasing number of incident associated with leakages around the world is predicted to contribute positively to the global oil and gas pipeline leak detection equipment growth. Leakages result in huge losses and also affect the environment. This has impelled government and authorities to take initiatives towards leak detection in any hydrocarbon pipeline which in turn is likely to uplift oil and gas pipeline leak detection equipment shares. In addition, the increasing energy demand of natural gas, crude oil, and refined products is also predicted

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Regional Insights:

Rising Exploration Activities Will Boost Growth in North America

Geographically, the global oil and gas pipeline leak detection equipment market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.  North America is predicted to dominate the oil and gas pipeline leak detection equipment market during the forecast period owing to the increasing exploration and drilling activities in the USA and Canada. Asia Pacific is expected to grow at a significant rate owing to the increasing demand for energy and the rise in the utilization of leak detection equipment at onshore locations. The presence of major oil reserves in Latin America and the Middle East along with increasing exploration activities are expected to boost the oil and gas pipeline leak detection equipment growth in the region.

Oil and Gas Pipeline Leak Detection Equipment Market Includes:

• In January 2019, Baker Hughes was the latest player in the oil and gas industry to start using the drone for leak detection and surveillance. The drone was named Lumen, which combines flying technology with ground-based, solar-powered sensors to give facility personal a clearer picture of fugitive methane leaks and its analysis.
• In March 2019, A leak detection sonar named sentry integrity monitoring solar was deployed in Gulf of Mexico to help a major US oil company. The sonar was deployed at a depth of around 2000m to monitor the subsea activities. The system was developed and delivered by subsea engineering specialist Sonardyne International. This is a trial of Sonar which would go on for 6 months.

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 Significant Players of the Cable Laying Vessel Market Include:

• Siemens AG
• Honeywell International Inc,
• PSI AG
• FLIR International
• ClampOn AS
• TTK Leak Detection System
• Atmos International
• Krohne
• Messtechnik GmbH
• Schneider Electric SE
• Synodon Inc
• Perma-pipe Inc
• Bridger Photonics Inc
• Laser Diagnostic Instrument
• Arjay Engineering

SEGMENTATION:

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