Global Pipeline Monitoring System Market 2024-2031

Pipeline Monitoring System Market Size, Share & Trends Analysis Report by Type (Metallic, Non-Metallic, and Others), by Solution (Leak Detection, Pipeline Break Detection, Operating Condition, and Others) and by(Ultrasonic Testing (UT) Technology, Pipeline Inspection Gauges (PIGs), Smart Ball Technology, Magnetic Flux Leakage (MFL) Technology, Fiber Optic Technology, and Others) Forecast Period (2024-2031)

Pipeline Monitoring System market is anticipated to grow at a CAGR of 7.6% during the forecast period (2024-2031). The market for pipeline monitoring systems has increased as a result of increasing pipeline installations, leaks owing to corrosion, and growing environmental concerns, which are driving monitoring system adoption by the oil and gas industry.

Market Dynamics

Increasing Expansion of Pipeline Networks

The demand for monitoring systems for secure and effective resource transportation is rising as pipeline networks spread across the globe, especially in developing nations. According to the National Institute of Health (gov.) in August 2023, the aging and development of the globe's pipeline network has placed more regulatory pressure on pipeline safety and dependability. The Pipeline and Hazardous Materials Safety Administration (PHMSA) reports that there have been 1052 excavation damage occurrences in the US, resulting in 1.5 billion in economic loss and 183 fatalities. The pipeline infrastructure needs to be timely and continuously inspected in order to maintain high standards of safety, dependability, and compliance with national and state regulatory requirements.

Increasing Prevalence of Smart Device and IoT Sensor Integration

Pipeline monitoring systems utilize smart devices and IoT sensors to gather real-time data on factors such as temperature, pressure, flow rate, and corrosion levels. This data is then used to provide operators with operational insights. According to a recent survey by EY, in February 2023, a majority of 58% of leaders in the O&G industry believe that investments in digital technology have been accelerated by the pandemic. With over 2.5 million kilometers of hydrocarbon pipelines globally, it has become imperative for the industry to utilize Geo-AI data for continuous monitoring and maintenance. Through the use of smart devices and IoT sensors, a wide range of parameters can be captured, leading to more accurate operations management and optimization. Reductase levels and lowering pro-inflammatory enzyme levels. A meta-analysis in 2018 found no significant effect of Pipeline Monitoring System on improving lipid profile, fasting insulin, systolic blood pressure, or BMI.

Market Segmentation

Our in-depth analysis of the global Pipeline Monitoring System market includes the following segments by type, solution and technology:

• Based on type, the market is sub-segmented into metallic non-metallic, and others(copper pipe, plastic pipe and aluminum pipe).
• Based on solution, the market is augmented into leak detection, pipeline break detection, operating condition, and others (corrosion monitoring solutions, and geographic information system (gis) solutions).
• Based on technology, the market is sub-segmented into ultrasonic testing (UT) technology, pipeline inspection gauges (PIGS), smart ball technology, magnetic flux leakage (MFL) technology, fiber optic technology, and others (acoustic emission testing, and electromagnetic inspection).

Metallic is Projected to Emerge as the Largest Segment

Based on the type, the pipeline monitoring system market is sub-segmented into metallic, non-metallic, and others(copper pipe, plastic pipe and aluminum pipe). Among these, the metallic sub-segment is expected to hold the largest share of the market. The primary factor supporting the segment's growth includes the increasing demand for proactive risk management and longer service life can be achieved by implementing comprehensive monitoring technologies, including as corrosion sensors, cathodic protection monitoring, and non-destructive testing, to evaluate corrosion in metallic pipelines. According to a study conducted by the National Association of Corrosion Engineers (NACE) in 2002, the total estimated annual cost of corrosion in the US was approximately $276 billion. The energy sector, particularly the oil and gas industry, accounted for a significant portion of these costs due to its extensive network of pipelines, storage tanks, and processing plants. The corrosion, a global economic issue, causes metallic material deterioration owing to environmental reactions, causing property and environmental damage, and incurring high mitigation costs.

Leak Detection Sub-segment to Hold a Considerable Market Share

By enabling proactive risk reduction and preventive maintenance procedures, early leak detection systems improve the safety and reliability of pipeline systems by preventing catastrophic failures and ensuring continuous operation. According to the National Institute of Health (gov.) in November 2023, leak state detection plays a essential role in confirming the stability and reliability of pipeline systems, especially considering the significant economic losses and potential risks of environmental pollution associated with leakage incidents. For instance, China has reported incidents with losses exceeding USD 200,000, while Mexico has experienced hundreds of deaths and injuries owing to leakage in diesel and petroleum pipelines. Therefore, the urgent need for early leak state detection cannot be emphasized enough, as it focuses on identifying the presence of a leak without the need for localization, which can be challenging and time-consuming.

Regional Outlook

The global Pipeline Monitoring System market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America).

Pipeline developments are fueled by regulatory support and government initiatives in Asia-Pacific

Pipeline developments are influenced by government initiatives and regulatory support, which encourage the adoption of renewable energy and improve infrastructure while ensuring environmental standards and safety through sophisticated monitoring systems. For instance, in January 2024, India Launched Bidding Process for Key Gas Pipeline to Landlocked Kashmir Valley. The 325-kilometer pipeline, estimated to cost billions, will introduce clean-burning natural gas to the valley, connecting to a 175-kilometer pipeline under construction by GAIL, aimed ton revolutionize energy access and supply.

Global Pipeline Monitoring System Market Growth by Region 2024-2031

Source: OMR Analysis

North America Holds Major Market Share

Among all the regions, North America holds a significant share owing to the growing demand for regulatory environment, enforced by agencies such as pipeline and hazardous materials safety administration (PHMSA) and national energy board (NEB), drives the adoption of advanced pipeline monitoring systems to ensure safety and mitigate risks.. According to the Department of Transportation (.gov) in May 2021, to ensure the safe movement of hazardous materials, PHMSA, regulates and oversees the transportation of over 1 million daily shipments within the US. This includes developing regulations and standards for handling and packaging, in addition to ensure the safety of America's extensive network of 2.6 million miles of natural gas and hazardous liquid transportation pipelines.

Market Players Outlook

Note: Major Players Sorted in No Particular Order

The major companies serving the global pipeline monitoring system market include, Emerson Electric Co., Honeywell International Inc., Schneider Electric, Siemens AG,ROSEN Swiss AG, and others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers, and acquisitions to stay competitive in the market. For instance, In November 2023, Luna Innovations and automation contractor ABB collaborated with the system operator to provide leak detection, pipeline security and facility security across the 1,811 km approach in a six-year project.

The Report Covers:

• Market value data analysis of 2023 and forecast to 2031.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global pipeline monitoring system market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying 'who-stands-where' in the market.