Building and Construction

Pipeline monitoring is a single system that detects smaller leaks or damages in pipelines securely and more reliably, while, simultaneously, monitoring them for third-party interferences and other external threats to prevent leaks. MarketsandMarkets projects that pipeline monitoring system market size will grow from USD 4.6 billion in 2019 to USD 6.5 billion by 2024, at a compound annual growth rate (CAGR) of 7.1% from 2019 to 2024. The increase in demand for pipeline monitoring systems for crude & refined oil is driving the growth of the pipeline monitoring system market. Key players in the pipeline monitoring system market are Siemens AG (Germany), Honeywell International Inc. (U.S.), BAE Systems (U.K), Perma Pipes (U.S), Transcanada (Canada), PSI AG (Germany), Pure Technology (Canada), Orbcomm Inc. (U.S.) and Huawei (China). Other players include Atmos International (U.K.), Clampon AS (Norway), ABB Group (Switzerland), Future Fiber Technologies (Australia), Senstar Inc. (Can...

The  pipeline monitoring systems market  is expected to witness high growth as a result of the increased number of oil & gas leakages in production, pipelines, and storage tanks due to natural disasters and high pressure along with stringent government regulations for pipeline safety and security and expansion and up-gradation of pipelines. The growth in trend of the development of new devices and solutions to monitor the pipeline performance, optimize the resources, automate the functions, and safeguard the operations fuels the growth of pipeline monitoring systems. The next-generation technologies, which are the future of the pipeline monitoring market, comprise integrated, multi-layered systems using disruptive technologies, Internet of Things (IoT), digital acoustic sensing, and connected pipelines. In terms of application, the leak detection application is projected to grow at a higher CAGR from 2016 to 2026. This growth can be attributed to the increasing inv...