Major players in the pipeline safety market are BAE Systems, Siemens AG, Schneider Electric SE, Honeywell International Inc., General Electric, ABB Group, Huawei Technologies Co. Ltd., AVEVA, Senstar, Perma-Pipe, Future Fiber Technologies, Leater, Total Safety, TTK, Rockwell Automation Inc., Cisco Systems, HCL Technologies, and ESRI Inc.,
The global pipeline safety market grew from $8.57 billion in 2022 to $9.5 billion in 2023 at a compound annual growth rate (CAGR) of 10.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The pipeline safety market is expected to grow to $14.02 billion in 2027 at a CAGR of 10.2%.
The pipeline safety market includes revenues earned by entities by offering software technology and solutions to protect and secure pipelines that carry energy products such as crude oil, natural gas, and other fuels.Integration of pipeline safety into pipelines allows monitoring and controlling of the main network connectivity and has various benefits such as reduced liability, less insurance cost, and low administration cost.
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.
Pipeline safety refers to a set of responsibilities that apply to all pipelines. Integrating pipeline security into the pipeline infrastructure helps monitor, control, and analyze main network connectivity.
North America was the largest region in the pipeline safety market in 2022.Asia-Pacific is expected to grow faster in the forecast period.
The regions covered in the pipeline safety report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The main types of components for the pipeline safety market are solutions and services.Solutions include premier intrusion detection, secure communication, SCADA for pipeline, pipeline monitoring system, and industrial control system security.
Premier intrusion detection is a network security technology which have fence mounted sensor to detect any form of intrusion from the perimeter and help in allowing critical time for security teams to respond to unauthorized intrusions.Secure connection is when two parties are communicating and not allowing the third party to listen to it.
SCADA (supervisory control and data acquisition) for a pipeline is used to detect the error and for transferring the information and necessary data for the operation of the pipeline facility through communication networks.The pipeline monitoring system includes dashboards to visualize the metrics of the pipeline functionality, industrial control system security helps to strengthen cybersecurity.
The services used in pipeline safety are professional and pipeline integrity management services. The services are used by natural gas, crude oil, refined products, and others.
The increase in demand for oil and gas leads to the development of pipeline infrastructure, which eventually drives the growth of the pipeline safety market.For instance, in January 2021, the Government of India announced the plan to spend $60 billion for establishing gas infrastructures such as pipelines, liquefied natural gas terminals, and city gas distribution networks.
In 2020, the United States imported around 7.86 MMb/d of petroleum, which included 5.88 MMb/d of crude oil and 1.98 MMb/d of noncrude petroleum liquids and refined petroleum products. The rise in the usage of piped gas lines contributes to the demand for the pipeline safety market.
The use of artificial intelligence (AI) for detecting issues in the pipeline is a key trend in the pipeline safety market.The technologies like artificial intelligence (AI), and leak detection software improve pipeline security and safety.
For instance, in April 2021, ABB Ltd., a Switzerland-based technology company, introduced HoverGuard, a mobile gas leak detection system for the detection of odorless and invisible gas leaks in pipeline systems. HoverGuard is an unmanned aerial vehicle (UAV)-based system that uses laser-based sensing technology and sophisticated data analytics to detect, quantify and map leaks from natural gas distribution and transmission pipelines, by gathering lines, storage facilities, and other potential sources quickly to generates comprehensive digital reports automatically to offer safety and reliability.
In August 2022, Baker Hughes Company, a US-based multinational industrial service company acquired Quest Integrity for an undisclosed amount.Through this acquisition, Baker Hughes Company aims to expand its portfolio in asset inspection solutions for the energy and industrial sectors.
Quest Integrity is a US-based asset integrity and reliability management solutions, provider.
The countries covered in the pipeline safety market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
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.
The pipeline safety market research report is one of a series of new reports that provides pipeline safety market statistics, including pipeline safety industry global market size, regional shares, competitors with a pipeline safety market share, detailed pipeline safety market segments, market trends and opportunities, and any further data you may need to thrive in the pipeline safety industry. This pipeline safety 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.