Pipeline Safety Market: Market Segments: By Component [Solutions (Pipeline Monitoring System, Secure Communication, Perimeter Intrusion Detection, SCADA for Pipelines, and ICS Security) and Services]; By Technology (SCADA Systems, Intruder Detection System, Industrial Control Systems Security, Video Surveillance & GIS Mapping and Pipeline Monitoring); By Vertical (Natural Gas, Crude Oil, Refined Products and Other); and Region – Global Analysis by Market Size, Share & Trends for 2014 – 2020 and Forecasts to 2030
Pipelines are used around the country to move gas & liquid goods to different places and to consumers over long distances. Such pipelines are known as a secure and efficient means of transporting dangerous goods over huge distances. Improper handling and distribution of these dangerous goods can, however, jeopardize human life and adversely affect the environment.
Pipeline Safety Market is expected to project a notable CAGR of 9.84% in 2030.
Pipeline Safety Market to surpass USD 16.95 billion by 2030 from USD 7.12 billion in 2019 at a CAGR of 9.84% throughout the forecast period, i.e., 2020-30. Market growth is also expected to be driven by improved investment by most oil and gas companies on pipeline infrastructure, network surveillance, leak detection, and the increase in the number of oil and gas leakage incidences/accidents.
Pipeline Safety Market: Segments
SCADA System segment to grow with the highest CAGR of 5.15% during 2020-30
Pipeline Safety Market is segmented by Technology as SCADA system, perimeter security/intruder detection system, video surveillance & GIS mapping, industrial control systems security, pipeline monitoring and other. The larger market share in 2019 was accounted by industrial control systems security segment held the largest share of the Pipeline Safety market and this trend is projected to prevail during the forecast period.
Pipeline Safety Market: Market Dynamics
Increased Spending of Oil & Gas Companies
As pipeline infrastructures are easily exposed to sabotage, illicit tapping, militant and terrorist actions, combined with leak detection and in-line equipment failure, the need to track oil, gas and refined products has increased. Due to the increase in demand for oil and gas in most major nations, there has been a substantial increase in pipeline infrastructure. For thousands of miles, pipelines are laid through various regions to move and distribute oil and gas products.
High Implementation and Maintenance Costs
The cost of pipeline protection and leak detection system implementation for oil and gas varies with technology. System design, integration & consultancy, and maintenance and service support are the other factors restricting the growth of the pipeline safety market. The above-mentioned prices show that the cost of monitoring and leak detection systems is high.
Pipeline Safety Market: Key Players
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence and SWOT Analysis.
Honeywell International Inc.
General Electric Company
Rockwell Automation, Inc.
Schneider Electric S.E.
Huawei Technologies USA, Inc.
Pipeline Safety Market: Regions
Pipeline Safety Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC and MENA.
Pipeline Safety Market in Europe held the largest market share of XX.X% in the year 2019. The growing investment in oil and gas is contributing significantly to the growth of the region’s pipeline protection industry. The European Union (EU) is highly dependent on external supplies of natural gas and in the past has undergone significant gas cuts, caused mainly by the technological difficulty and political uncertainty of the high-pressure natural gas system in some of the supplying countries. Asia Pacific is becoming a highly prospective market with growing awareness of the increase in business efficiency, augmented by competently built pipeline safety platforms provided by suppliers in this area. Emerging economies, such as India, China, and Japan, compose the region. With the substantial increase in the construction of pipelines across China, Pakistan and India, the need for robust security measures to be deployed has increased significantly. Safety issues about pipeline attacks and damage caused by natural disasters and piracy are the regions key concern.
Pipeline Safety Market report also contains analysis on:
Pipeline Safety Market Segments:
o Pipeline Integrity Management
o Professional Services
Engineering and Consulting
• SCADA System
• Perimeter Security/Intruder Detection System
• Industrial Control Systems Security
• Video Surveillance & GIS Mapping
• Pipeline Monitoring
• Other Technology and Solutions
• Natural Gas
• Crude Oil
• Refined Products
• Pipeline Safety Market Dynamics
• Pipeline Safety Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints
FAQs on Pipeline Safety Market
· Which segment is anticipated to hold the largest market share?
· At what CAGR is the market anticipated to grow between 2020 and 2030?
· Who are the key players in the Pipeline Safety Market?
· What could be the challenging factors in the growth of Pipeline Safety Market?
· What are the growth drivers for the Pipeline Safety Market?