Global Pipeline Monitoring Systems Market to Reach $29.11 Billion by 2030: Allied Market Research
Rise in leakage problems, increase in use of petroleum products, and surge in oil & gas plants drive the growth of the global pipeline monitoring systems market. Asia-Pacific held the highest share in 2020, and is expected to continue its dominance in terms of revenue by 2030. Production facilities of pipeline monitoring systems were stopped due to lockdown measures and disrupted supply chain worldwide. This affected the production volumes.
Portland, OR, May 31, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global pipeline monitoring systems market generated $13.86 billion in 2020, and is estimated to reach $29.11 billion by 2030, witnessing a CAGR of 7.6% from 2021 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
Rise in leakage problems, increase in use of petroleum products, and surge in oil & gas plants drive the growth of the global pipeline monitoring systems market. However, high installation cost and the global political instability restrain the market growth. On the other hand, economic growth of developing countries and emergence of new technologies create new opportunities in the coming years.
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Covid-19 Scenario:
- Production facilities of pipeline monitoring systems were stopped completely or partially due to lockdown measures, unavailability of the workforce, and disrupted supply chain worldwide. This affected the production volumes of systems.
- The demand from end users such as petroleum, water & wastewater, and others decreased significantly, due to stoppage of daily operations in these industries during the lockdown. However, the demand is expected to regain during the post-lockdown.
The report offers detailed segmentation of the global pipeline monitoring systems market based on material type, technology, end user, and region.
Based on material type, the metallic segment accounted for the largest share in 2020, contributing to nearly 87% of the total share, and is projected to continue its lead position during the forecast period. However, the non-metallic segment is expected to witness the largest CAGR of 9.4% from 2021 to 2030.
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Based on end user, the water and wastewater segment held the highest share in 2020, accounting for more than two-fifths of the total share of the global pipeline monitoring systems market, and is projected to maintain its leadership status position during the forecast period. Moreover, this segment is estimated to manifest the fastest CAGR of 8.5% from 2021 to 2030. The research also analyzes the segments including petroleum and others.
Based on region, Asia-Pacific held the highest share in 2020, accounting for more than two-fifths of the total market share, and is expected to continue its dominance in terms of revenue by 2030. Moreover, this region is estimated to portray the largest CAGR of 8.9% during the forecast period. The research also analyzes regions including North America, Europe, and LAMEA.
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Leading players of the global pipeline monitoring systems market analyzed in the research include Orbcomm Inc., PSI AG, Transcanada Company, Honeywell International Inc., Pure Technologies, Siemens AG, Perma Pipe Inc., BAE Systems, Inc., Huawei Technologies Co. Ltd., and Pentair PLC.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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