PUBLISHER: The Business Research Company | PRODUCT CODE: 1426203
PUBLISHER: The Business Research Company | PRODUCT CODE: 1426203
Gas and oil pipeline leak detectors, also known as leak sensors or detectors, serve to alert or visually indicate the presence of leaks within systems containing liquids or gases. They play a crucial role in monitoring these systems to ensure that substances such as liquids, gases, or chemicals remain within the intended confines and do not escape or leak.
These detectors come in various types based on their location, primarily categorized as onshore and offshore. Onshore detectors are employed in the exploration and production of oil fields, gas reserves, and geothermal energy on land. They specifically identify gas flowline breaches using technology that monitors changes in frictional losses caused by a leak. These detectors operate across different mediums such as oil, condensate, and natural gas, utilizing a range of technologies including acoustic sensors, flowmeters, cable sensors, vapor sensors, among others. These technologies are applied in various detection methods like fiber optic, pressure sensors, infra-red detection, and flowmeters to effectively detect and address leaks in oil and gas pipelines both onshore and offshore.
The oil and gas pipeline leak detector market research report is one of a series of new reports from The Business Research Company that provides oil and gas pipeline leak detector market statistics, including oil and gas pipeline leak detector industry global market size, regional shares, competitors with an oil and gas pipeline leak detector market share, detailed oil and gas pipeline leak detector market segments, market trends and opportunities, and any further data you may need to thrive in the oil and gas pipeline leak detector industry. This oil and gas pipeline leak detector market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The gas and oil pipeline leak detector market size has grown strongly in recent years. It will grow from $2.95 billion in 2023 to $3.1 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The expansion observed in the historical period can be attributed to several factors, including economic influences, industry consolidation leading to more efficient operations, enhanced incident response measures, the evolution of regulatory frameworks governing pipeline safety, ongoing infrastructure development, and the initial adoption of relevant technologies within the sector. These elements collectively contributed to the growth and development of gas and oil pipeline leak detection during that time.
The gas and oil pipeline leak detector market size is expected to see strongly grown in the next few years. It will grow to $3.76 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. The anticipated growth in the forecast period is expected to be driven by factors such as market expansion, the rise of emerging economies contributing to increased demand, heightened investments in research and development, stricter regulatory frameworks governing pipeline safety, a growing emphasis on preventive maintenance measures, and evolving environmental priorities shaping industry practices.
The escalating global demand for energy is anticipated to act as a catalyst for the expansion of the oil and gas pipeline leak detector market. These detectors play a crucial role in identifying and preventing leaks in pipelines, safeguarding valuable oil and gas resources. As per the Energy Information Administration (EIA), the United States observed a 3% rise in primary energy consumption in 2022, reaching 100.4 quadrillion British thermal units (quads). With fossil fuels constituting 79% of this consumption, primarily driven by petroleum, natural gas, and coal, the heightened energy consumption globally is a driving force behind the growth of leak detection systems in oil and gas pipelines.
The surge in oil and gas consumption worldwide is poised to significantly propel the oil and gas pipeline leak detector market. This heightened consumption across various stages of oil and gas operations from drilling to transportation that creates an imperative need for robust systems to monitor critical data like pressure, flow rates, and temperature through sensors. For instance, recent data from the US Energy Information Administration reveals a substantial uptick of 5.3 million barrels per day (b/d) in oil consumption in 2021, with further projections of increases by 1.4 million b/d in 2023 and 1.8 million b/d in 2024. This increased consumption is a key driving force behind the expansion of the leak detector market in the oil and gas sector.
Technological advancements emerge as a prominent trend shaping the oil and gas pipeline leak detector market landscape. Leading companies in this sector are strategically focusing on innovative product development to fortify their market positions. A case in point is the November 2022 launch by Hawk Measurement Systems of the Praetorian System, utilizing Fiber Optic Sensing (FOS) technology for real-time monitoring of oil and gas pipeline infrastructure. This cutting-edge system employs Fiber Optic Cables placed along pipelines to detect variations in sound, stress, temperature, or vibration. Through multi-variable sensing, it cross-references and identifies leaks by analyzing temperature and vibration changes, exemplifying the technological strides in this sector.
Major players in the gas and oil pipeline leak detector market are introducing pioneering products such as the Panther gas leak detector to enhance leak detection capabilities. For instance, in June 2023, ION Science introduced the Panther gas leak detector, boasting advanced features and double the sensitivity of its predecessor, the GasCheck G. Leveraging infrared, laser-based, or ultrasonic sensors, this device detects gas presence in the environment at exceptionally low concentrations. Its advanced technology enables early detection of gas leaks, mitigating potential hazards and addressing issues before they escalate, reflecting the continued innovation in gas leak detection equipment.
In March 2023, SkySkopes Holdings, a US-based company specializing in geospatial data solutions, successfully acquired LaSen Inc for an undisclosed sum. This strategic acquisition aligns with SkySkopes' goal of enhancing its capabilities to deliver precise and top-tier data collection and GIS (Geographic Information System) solutions to its clientele. LaSen Inc., also based in the US, specializes in leak detection services for oil and gas pipelines, adding valuable expertise to SkySkopes' portfolio as it strengthens its offerings in this sector.
Major companies operating in the gas and oil pipeline leak detector market report are Schneider Electric SE, Synodon Inc., Siemens AG, Teledyne FLIR LLC, Atmos International Ltd., ClampOn AS, TTK Leak Detection System, Honeywell International Inc., Pentair PLC, PSI AG, Krohne Messtechnik GmbH, Pure Technologies Ltd., Perma-pipe Inc., Laser Diagnostic Instruments AS, Arjay Engineering, Asel-Tech Inc., Yokogawa International Inc., Areva S.A., ABB Ltd., Bridger Photonics Inc., Yokogawa Electric Corp., Tenaris Inc., Mott Macdonald Group Ltd., Nippon Steel Corporation, ChelPipe Group, British Petroleum PLC, Qatar Jet Fuel Company, Bharat Petroleum Corp. Ltd., Gazprom Neft PJSC, Primoris Services Corporation .
North America was the largest region in the oil and gas pipeline leak detector market in 2023. The regions covered in the gas and oil pipeline leak detector market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the gas and oil pipeline leak detector market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The oil and gas pipeline leak detectors market consists of sales of flame Ionization (FID) detection devices, fluorescent leak detection, halogen leak detectors, helium leak detectors, high voltage leak detection, hydrogen leak detection, infrared open path gas leak detector, and propane leak detectors. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Gas And Oil Pipeline Leak Detector Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on gas and oil pipeline leak detector market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for gas and oil pipeline leak detector? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The gas and oil pipeline leak detector market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.