“Pipeline monitoring is a single system that detects smaller leaks or damages securely and more reliably, while simultaneously monitoring for third-party interference and other external pipeline threats in order to prevent leaks altogether. MarketsandMarkets projects that the pipeline monitoring systems market size will grow from USD 4.13 Billion in 2015 to USD 8.72 Billion by 2026, at a compound annual growth rate (CAGR) of 7.1% from 2016 to 2026. The increase in demand for pipeline monitoring systems for crude & refined oil is driving the growth of the pipeline monitoring systems market.
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The key players in the pipeline monitoring systems 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.), Huawei (China), and Pentair PLC. (U.K.). Other players in the pipeline monitoring systems market include Atmos International (U.K.), Clampon AS (Norway), ABB Group (Switzerland), Future Fibre Technologies (Australia), Senstar Inc. (Canada), Syrinix (U.K.), Radiobarrier (Russia), TTK (France), Krohne Group (Germany), and Thales Group (France). These players have adopted various strategies to expand their global presence and increase their market share. Mergers & acquisitions, expansions, partnerships, and new product launches are some of the major strategies adopted by the market players to achieve growth in the pipeline monitoring systems market.
The year 2015 witnessed several expansions & investments, agreements, contracts, joint ventures, and partnerships in the pipeline monitoring systems market by key players to expand their product & service portfolios and improve their distribution network through the means of expansions. New product developments was the second-most adopted key strategy by market players in order to expand their product portfolios and geographical reach to untapped markets.
Siemens AG (Germany), provides integrated pipeline monitoring systems that are based on access control, intrusion detection, and video surveillance systems, which help to monitor pipeline systems from remote locations. All systems are controlled by one or more central control rooms, hence providing end-to-end pipeline monitoring solutions. In 2012, the company partnered with a global natural gas leader to provide a high speed motor application for a natural gas pipeline.
Honeywell International Inc. (U.S.) is engaged in the supply and manufacture of products and services in different sectors such as industrial process control, transportation, oil & gas, refining, petrochemicals, and biofuels, which include pipeline monitoring systems. In 2015, the company expanded its operations for liquefied natural gas pipeline in China, by improving integrated gas measurement technologies such as computer software, sensors, ultrasonic flowmeters, and flow computers that maintained optimum performance throughout the entire long-distance pipeline.
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