Report ID: 10346674 |
Published Date: 21 Oct 2022 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
Global Pipeline Security Systems Market is valued approximately at USD 7.4 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 8.6% over the forecast period 2020-2027. Nowadays, pipeline security systems are advancing to become the most important solution for commercial activities. The pipeline systems are considered to be the safest, consistent, and effective means of transporting huge quantities of crude oil, natural gas, water, and chemicals across nations. Presently, pipeline installations have become vital infrastructure of high importance and value due to the integration of some advanced technologies, such as SCADA, video surveillance, industrial control systems, etc., making a high demand for pipeline security systems. Further, these advanced technologies are primarily being integrated in these systems to impassively detect surface and subsurface intrusions in real-time, as well as enable high accuracy locations, thereby promoting the growth of the market over the forecast period. Moreover, the rising production of crude oil & gas around the world, along with increase in number of oil & gas leakage incidence are the few factors responsible for the impressive CAGR of the market during the forecast period. According to the International Energy Agency (IEA), the regular demand for crude oil across the globe reached almost 100.6 million barrels in the years 2019, signifying an increase from 96.2 million barrels since the year 2016. Likewise, as per the source, in 2019, the production of natural gas was also valued about 4,088 billion cubic meters, signifying an increase of 3.3% compared to 2018. This, in turn, is further strengthening the growth of pipeline security system market all over the world. However, the high implementation and maintenance cost coupled with lack of skilled professionals are the few factors restraining the market growth over the forecast period of 2020-2027.
The regional analysis of the global Pipeline Security Systems market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. Europe is the leading/significant region across the world in terms of market share owing to the rising investments in oil and gas to implement pipeline security systems, along with the presence of significant number of market vendors in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the rise in demand for crude oil and gas coupled with rising spending on onshore and offshore oil operations in developing nations, such as China and India, are the few factors creating a lucrative opportunity for the growth of the Pipeline Security Systems market in the Asia-Pacific region.
Major market player included in this report are:
Honeywell International Inc.
General Electric Company
ABB Ltd.
Rockwell Automation, Inc.
Siemens AG
Schneider Electric S.E.
Optasense Ltd.
Senstar Corporation
Huawei Technologies USA, Inc.
Thales SA
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product:
Natural Gas
Crude Oil
Hazardous liquid pipelines/ Chemicals
Others
By Technology & Solution:
SCADA System
Perimeter Security/Intruder Detection System
Industrial Control Systems Security
Video Surveillance & GIS Mapping
Pipeline Monitoring
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Pipeline Security Systems Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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Report ID: 10346674 |
Published Date: 21 Oct 2022 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
