1. Market Research
  2. > Energy & Environment
  3. > Energy
  4. > Oil and Gas Market Trends
Leak Detection Market for Oil & Gas with COVID-19 Impact by Technology, Medium And Region - Global Forecast to 2025

Leak Detection Market for Oil & Gas with COVID-19 Impact by Technology, Medium And Region - Global Forecast to 2025

  • December 2020
  • 260 pages
  • ID: 3363502
  • Format: PDF
  • MarketsandMarkets

Summary

Table of Contents

Search Inside

The Leak detection market for oil & gas is valued at USD 2.1 billion in 2020 and is projected to reach USD 3.0 billion by 2025; it is expected to grow at a CAGR of 7.8% from 2020 to 2025. Several projects pertaining to the oil and gas pipelines have been undertaken globally, and a significant number of projects are being planned owing to the increasing consumption of oil and gas worldwide. Thus, operators across the world are expanding their existing pipeline networks, as well as constructing new pipelines to meet the increasing demand for natural gas and oil.

Retrofitting complications related to some leak detection systems are expected to restrain the growth of the market. Moreover, the lack of efficient leak detection systems that provide information related to different parameters of leakages and the decrease in global oil prices are expected to be prime challenges for the market players.

Oil is physically traded in different grades.The most popular traded grades are Brent North Sea Crude (commonly known as Brent crude) and West Texas Intermediate (commonly known as WTI).

With the spread of the COVID-19 globally, the supply of fuel has exceeded its demand by a significant margin worldwide.A decrease in oil prices has affected the global oil and gas industry significantly.

It also affected the financial position of leading oil and gas companies, as well as caused delays in upcoming and ongoing projects.For instance, in April 2020, the Energy Ministry of Argentina suspended auctioning of projects for the development of the Vaca Muerta–Buenos Aires natural gas pipeline owing to the worsening economic scenario of the country resulting from the pandemic.

However, with an increase in the prices of oil, the oil and gas market is expected to recover by 2021–2022.

E-RTTM technology: The fastest technology segment of leak detection market for oil & gas .
E-RTTM refers to an extended real-time transient model.It is used for detecting leakages and identifying their location.

The advantages of E-RTTM technology-based leak detection systems over systems based on other technologies are that these systems can detect small leakages, identify the size of the leakages accurately, and model all dynamic fluid characteristics (flow, pressure, and temperature). These systems consider the extensive configuration of physical pipeline characteristics (length, diameter, thickness, etc.), as well as product characteristics (density, viscosity, etc.). Hence, they provide highly accurate results regarding leak locations in less time.

Natural Gas: The leading segment of the leak detection market for oil & gas .

There has been a significant increase in the consumption of natural gas in recent years.The presence of abundant natural gas resources and its increased production make it a competitive energy resource.

Natural gas remains a key fuel in the electric power generation and the industrial sectors.In the electric power generation sector, natural gas is a preferred choice owing to its fuel efficiency.

It also burns cleaner than coal or petroleum products.As governments of different countries are implementing national or regional plans to reduce carbon dioxide emissions, they are expected to encourage the use of natural gas more than carbon-intensive coal and liquid fuels.

Therefore, the reliability and security of gas transportation infrastructures are of high priority in the energy sector. Leak detection systems carry out timely detection of those parts of gas infrastructures that are prone to leakages. These systems generate quick responses to stop the gas discharge and ensure proper pipeline maintenance. Some of the important leak detection technologies used for the detection of natural gas leakages are thermal imaging, RTTM or E-RTTM, and acoustic.

North America: The leading region in the global leak detection market for oil & gas .
North America is projected to account for the largest size of the leak detection market for oil & gas from 2020 to 2025.The US government provides significant subsidies to petroleum companies in the form of tax exemptions at virtually every stage of the oil exploration and extraction process, right from the leasing of oil fields to drilling equipment.

The government support for the growth of the oil and gas industry in the US is one of the primary reasons for the rising number of oil and gas projects in the country.This, in turn, is expected to contribute to the growth in demand for leak detection technologies and systems in the US.

Moreover, according to the Pipeline and Hazardous Materials Safety Administration (PHMSA), an agency of the US Department of Transportation, the increasing incidents of leakages in the oil and gas pipelines and storage tanks at production facilities also fuel the growth of the leak detection market for oil & gas in North America.
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
• By Company Type: Tier 1 – 40%, Tier 2 – 25%, and Tier 3 – 35%
• By Designation: C-level Executives – 35%, Directors – 28%, and Others – 37%
• By Region: North America – 47%, Europe – 20%, APAC – 18%, South and Central America – 10%, and Middle East and Africa – 5%

Honeywell International Inc. (US), Emerson Electric Co. (US), ABB (Switzerland), KROHNE Group (Germany), PSI Software AG (Germany), Atmos (UK), AVEVA (UK), FLIR Systems Inc. (US), HIMA (Germany), Yokogawa Electric Corporation (Japan), Asel-Tech (Brazil), Bridger Photonics (US), Flyscan Systems Inc. (Canada), Fotech Group Ltd. (UK), Hawk Measurement Systems (Australia), MAGNUM (Germany), MSA Safety (US), OptaSense Ltd. (UK), Simulation Software Ltd. (UK), and TTK (France) are some of the key players operating in the leak detection market for oil & gas.

Research Coverage:
The report segments the leak detection market for oil & gas and forecasts its size, by value, based on Technology (acoustic/ultrasonic, extended real-time transient model (E-RTTM), fiber optic, mass/volume balance, vapor sensing, thermal imaging, and laser absorption and LiDAR), Medium (Oil and Condensate and Natural Gas), Location (Onshore and Offshore) and Region (North America , Europe, Asia Pacific, South and Central America, Middle East and Africa),.
The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the leak detection market for oil & gas . The report also covers qualitative aspects in addition to the quantitative aspects of these markets.

Key Benefits of Buying the Report
The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments.This report will help stakeholders and gain more insights to better position their businesses and plan suitable go-to-market strategies.

The report also helps stakeholders understand the pulse of the leak detection market for oil & gas and provides them information on key market drivers, restraints, challenges, and opportunities.Report also covers COVID-19 impact on leak detection market for oil & gas .

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

Sand Control Solutions Market by Location, Application, Well Type, Type And Region - Global Forecast to 2025

  • $ 4950
  • December 2020
  • 188 pages

The sand control solutions market is projected to reach USD 3.2 billion by 2025 from an estimated USD 2.1 billion in 2020, at a CAGR of 8.9% during the forecast period. The continuous development from ...

  • World
  • North America
  • Oil And Gas
  • Crude Oil
  • Industry analysis
  • Crude Oil Production
  • Crude Oil Price

ref:plp2020

Reportlinker.com © Copyright 2021. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on