Pipeline Monitoring System Market

Pipeline Monitoring System Market Size, Share, Growth (2023-2028)

pipeline monitoring system market size is expected to grow by 27.4 billion by 2028 with a CAGR of 8.12% in given forecast period (2023-2028)

Pipeline Monitoring System Market Overview

A pipeline monitoring system is a system that is used to monitor the flow and condition of liquids or gases through pipelines. This type of system typically uses sensors, cameras, and other monitoring devices to collect data on the flow rate, pressure, temperature, and other factors relevant to the pipeline's operation. The monitoring system then processes and analyzes this data to identify potential problems or issues and provide alerts or notifications when necessary. As a result, pipeline monitoring systems can be used to improve the safety, reliability, and efficiency of pipeline operations.

Pipeline Monitoring System Market Drivers

Growing usage of pipeline monitoring systems from the oil and gas industry propels market growth. The transportation and distribution of oil and gas through the pipelines without any leakage and loss has fuelled the need for pipeline monitoring systems in the oil and gas industry. In the oil and gas industry, pipeline monitoring systems are used to monitor the flow and condition of the oil, natural gas, and other hydrocarbon fluids through pipelines. These systems are typically installed on long-distance pipelines that transport large volumes of these fluids and are used to ensure that the pipelines operate safely, reliably, and efficiently. Pipeline monitoring systems in the oil and gas industry can include sensors, cameras, and other monitoring devices that collect data on factors such as flow rate, pressure, temperature, and the presence of contaminants. The monitoring system then processes and analyzes this data to identify potential problems or issues and provide alerts or notifications when necessary.

The rising demand for these systems from the water and wastewater industries further drives the growth of the pipeline monitoring systems market. Pipeline monitoring systems are also used in the water and wastewater industry to monitor the flow and condition of water and wastewater through pipelines. These systems typically use sensors, cameras, and other monitoring devices to collect data on the flow rate, pressure, temperature, and other factors relevant to the pipeline's operation. As a result, pipeline monitoring systems in the water and wastewater industry can help ensure these critical infrastructure systems' safety, reliability, and efficiency. Furthermore, technological advancements, growing investments from the oil and gas industry, regulations from various governments regarding pipeline monitoring, and increasing efforts from the market participants to ensure pipeline safety are promoting the pipeline monitoring systems market growth.

Pipeline Monitoring System Market Restraints

High costs associated with pipeline monitoring systems are key factors that hamper market growth. The cost of a pipeline monitoring system can vary depending on several factors, including the size and complexity of the system, the type of sensors and other monitoring equipment used, and the specific application for which the system is being used. In general, however, the cost of a pipeline monitoring system can range from a few thousand dollars for a simple, small-scale system to hundreds of thousands of dollars or more for an extensive, complex system. It is also worth noting that the cost of a pipeline monitoring system may be offset by the increased safety, reliability, and efficiency that it can provide, which can ultimately lead to cost savings for the pipeline operator.

Pipeline Monitoring System Market Opportunities

Growing R&D activities from the market players are one of the significant pipeline monitoring system market opportunities. Research and development (R&D) in pipeline monitoring focuses on developing new technologies, techniques, and systems for monitoring the flow and condition of liquids and gases through pipelines. This R&D work can involve the development of new sensors, monitoring devices, and data analysis algorithms, as well as exploring new pipeline monitoring approaches, such as using artificial intelligence and machine learning. The goal of this R&D work is to improve the accuracy, reliability, and efficiency of pipeline monitoring systems and to help ensure pipelines' safe and reliable operation in various industries. In addition, a growing number of product launches by market participants is expected to open new growth possibilities.

Recent developments in the market

• In April 2021, PipeChina announced an investment of USD 1.3 billion to construct natural gas construction pipelines in North China. The initiative's primary aim is to ensure air quality improvement and promote economic development.

Pipeline Monitoring System Market Segmentation

By Technology

• PIGs

• Smart Ball

• Acoustic/Ultrasonic

• Magnetic Flux Leakage Technology

• Fiber Optic Technology

• Mass Volume/Balance

• LIDAR

• Vapor Sensing

• Others (Beta Foil Technology and Leo Technology)

the acoustic/ultrasonic segment captured the leading share of the global pipeline monitoring system market in 2021 and is expected to showcase a healthy CAGR during the forecast period. Using acoustic or ultrasonic technology helps determine the leakage location, which is one of the major factors that propel the segment’s growth. However, accuracy issues associated with this technology in detecting minor leaks limit the segment’s growth rate.

By Pipe Type

• Metallic

• Non-metallic

• Others

The metallic segment dominated the pipeline monitoring system market with a significant share in 2021 and is estimated to progress at a healthy CAGR during the forecast period. The adoption of metallic pipelines is high among the oil, gas & petrochemical industries, propelling the segment’s growth. In addition, the metallic pipes are cost-effective and require low maintenance costs, further promoting the segment's growth rate.

By Application

• Leak Detection

• Operating Condition

• Pipeline Break Detection

• Others

the leak detection segment captured around 40% of the pipeline monitoring system market share in 2021. Leak detection solutions play a vital role in the efficient performance of the pipeline system. These solutions share an immediate update with the operators when a pipeline failure occurs, which helps the operators to take immediate action.

On the other hand, the pipeline break detection segment is anticipated to grow at the highest CAGR during the forecast period. Therefore, detecting the pipeline break is very important for the operators to avoid significant losses.

By Industry

• Oil & Gas

• Water & Wastewater

• Others

The oil and gas industry was the largest segment in the global pipeline monitoring system market in 2021 and is expected to register a steady CAGR during the forecast period. Pipelines are widely used for the transportation of oil and gas and require effective pipeline monitoring, resulting in the segment's growth. In addition, pipeline monitoring systems greatly favor the oil and gas operators in identifying the wastage and penetration of the environment into the pipeline.

Pipeline Monitoring System Market Regional Analysis:

• North America

• Europe

• Asia-Pacific

• Latin America

• Middle East and Africa

Geographically, the North American region had the largest share of the global pipeline monitoring system market in 2021. The domination of the North American region is expected to continue throughout the forecast period in the global market. North America's well-established pipeline infrastructure is one of the major factors supporting the market growth in the North American region. In addition, the growing adoption and penetration of technological developments in enhancing pipeline networks further promote the growth of the North American market. The presence of the small, medium, and large operators of pipeline monitoring systems in the North American region is also propelling the regional market growth.

The Asia-Pacific region is expected to grow substantially during the forecast period. The increasing adoption of technologically developed pipeline monitoring systems and the presence of market participants are promoting market growth in the Asia-Pacific region. In addition, the rising investments from the companies and growing prevalence for pipeline network development further propel the APAC pipeline monitoring system market growth.

COVID-19 impact on the pipeline monitoring system market

The COVID-19 pandemic has significantly impacted the pipeline monitoring system market. Many pipeline operators have had to reduce their staffing levels and the amount of monitoring and maintenance work they can do due to the need to follow social distancing guidelines to prevent the spread of the virus. This levelled the demand for the  remote monitoring and automation technologies, as well as on remote teams and remote support services, to help ensure pipelines' safe and reliable operation during the pandemic. Due to the new normalization, the market is expected to register a healthy CAGR during the forecast period.

Pipeline Monitoring System Market Key Players

1. Huawei Investment and Holding Co. Ltd.

2. ORBCOMM Inc.

3. QinetiQ Group Plc

4. Generic Electric Co.

5. Honeywell International Inc.

6. Siemens AG

7. Rockwell Automation Inc.

8. Schneider Electric SE

9. ABB Ltd.

10. Emerson Electric Co.