The global pipeline monitoring system market size is projected to grow from USD 13.2 billion in 2021 to USD 19.2 billion by 2026, at a CAGR of 7.8% from 2021 to 2026. Pipeline monitoring is a single system that detects smaller leaks or damages securely and more reliably while simultaneously monitoring for third-party interference and other external pipeline threats to prevent leaks altogether. Pipeline monitoring system is widely used in end-use industries such as crude & refined petroleum, and water & wastewater, amongst others.
Based on end-use industry, crude & refined petroleum segment is projected to be the larger segment in the pipeline monitoring system market. Crude oil is a naturally occurring, unrefined form of petroleum. It is one of the primary sources of energy for the energy & power sector. On being processed, crude oil produces refined oil products such as petroleum, gasoline, diesel, and petrochemicals. It is also known as fossil fuel and is a renewable resource. It is majorly categorized into three subsegments, namely, oil, natural gas, and biofuels, which are transported using pipelines, thereby providing a huge potential for the pipeline monitoring system market, as it provides end-to-end monitoring and security solutions. The increase in oil & gas pipelines, owing to an economical, efficient, reliable, and safe mode of transportation for long distances around the world, creates demand for pipeline monitoring system in the crude & refined petroleum segment.
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The pipeline monitoring system market is studied for five regions, namely, North America, APAC, Europe, Middle East & Africa and South America. The North American region accounted for the largest market share in 2020, in terms of value. Furthermore, the market for pipeline monitoring system in the APAC region is projected to grow at the highest CAGR from 2021 to 2026, in terms of value.
The pipeline monitoring system market has thousands of companies that thrive in their domestic market. A few of the major players are, Siemens AG (US), Honeywell International Inc. (US), Huawei Technologies Co. Ltd. (China), BAE Systems (UK), and TransCanada PipeLines Limited (Canada), among others. These players have adopted various growth strategies, such as mergers & acquisitions, and expansions, to increase their market shares and enhance their product portfolios.
Siemens AG is a leading engineering and manufacturing company in Europe operating in the principal divisions of Digital Industries, Smart Infrastructure, Mobility and Siemens Healthineers, which together
form the Industrial Businesses and Siemens Financial Services (SFS). These divisions represent the main activities of the company. Its focus is on the areas of electrification, automation, and digitalization. Siemens AG Gas and Power, which is headquartered in Houston, Texas, is the only company in the world that can provide fully integrated products, solutions, and services across the energy value chain of oil & gas production, power generation, and transmission.
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Honeywell International Inc. is a diversified technology and manufacturing company. It operates through four business segments, namely, Aerospace (previously known as Transportation, Automation and Control Solutions (ACS)), Performance Materials and Technologies (PMT), Honeywell Building Technologies, and Safety & Productivity Solutions. PMT is one of the largest segments of Honeywell which develops and manufactures high-quality performance chemicals and materials, process technologies, and automation solutions. Process Solutions business is a pioneer in automation control, instrumentation, advanced software, and related services for the oil & gas, refining, pulp & paper, industrial power generation, chemicals & petrochemicals, biofuels, life sciences, and metals, minerals, and mining industries. Its competitors for Automation and Control solutions are 3M, Johnson Controls, Schneider, Siemens AG, and Zebra-Motorola (Zebra Technologies Corporation has acquired the Enterprise business of Motorola Solutions, Inc.).
