NEW YORK, Nov. 30, 2023 /PRNewswire/ — The oil and gas pipeline monitoring equipment market is expected to grow by USD 1.04 billion from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 4.46% during the forecast period. Increasing preference for pipeline transportation is notably driving the oil and gas pipeline monitoring equipment market market. However, factors such as volatility in crude oil prices may impede market growth. The market is segmented by product (hardware components and software systems), type (vibration monitoring, thermal monitoring, lubrication monitoring, and others), and geography (North America, APAC, Europe, Middle East and Africa, and South America).
Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The Free sample report is available in PDF format
Key Segment Analysis
- The hardware components segment is estimated to witness significant growth during the forecast period. The hardware component is comprised of gas meters, pressure detectors, temperature sensors, and control valves that are installed in oil and gas pipelines. To ensure efficient monitoring and control of pipeline activities, they calculate several process parameters. A more reasonable monitoring of oil and gas pipelines is enabled by the integration of the Internet of Things (IoT) with new sensors and communication technologies.
To know additional highlights and key points on various market segments and their impact in coming years, View a Free PDF Sample Report.
Geographical Market Analysis
- North America is estimated to contribute 33% to the growth of the global market during the forecast period. Several US pipeline networks date back to 1970. Therefore, there is great potential for the development of leak detection equipment and software for oil and gas pipelines. To bridge the gap between demand and supply of oil and natural gas, several countries in the region have already set up or are encouraging significant investments for new or expanded pipelines that carry oil and petroleum products. In addition, it will be necessary to install pipelines for transporting oil and gas produced from the fields to inland terminals to proceed with new projects. Hence, these factors are expected to drive market growth in the region during the forecast period.
Company Insights
The oil and gas pipeline monitoring equipment market market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market’s competitive landscape and offers ABB Ltd., AMETEK Inc., Badger Meter Inc., Emerson Electric Co., Endress Hauser Group Services AG, General Electric Co., Hollysys Automation Technologies Ltd., Honeywell International Inc., Huawei Technologies Co. Ltd., KROHNE Messtechnik GmbH, Mitsubishi Electric Corp., Nova Ventures Group Corp., ORBCOMM Inc., PSI Software AG, QinetiQ Ltd., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Teledyne Technologies Inc., and Yokogawa Electric Corp.
View the Free PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.
Related Reports:
The oilfield casing spools market size is estimated to grow at a CAGR of 6.56% between 2024 and 2028. The market size is forecast to increase by USD 45.22 million.
The oil and gas upstream equipment market size is estimated to grow at a CAGR of 3.26% between 2024 and 2028. The market size is forecast to increase by USD 11,226.76 million.
|
Oil And Gas Pipeline Monitoring Equipment Market Market Scope |
|
|
Report Coverage |
Details |
|
Base year |
2022 |
|
Historic period |
2017-2021 |
|
Forecast period |
2023-2027 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 4.46% |
|
Market growth 2023-2027 |
USD 1.04 billion |
|
Market structure |
Fragmented |
|
YoY growth 2022-2023 (%) |
4.26 |
|
Regional analysis |
North America, APAC, Europe, Middle East and Africa, and South America |
|
Performing market contribution |
North America at 33% |
|
Key countries |
US, Canada, China, Russia, and UK |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
ToC:
Excustive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by Type
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com
SOURCE Technavio
