According to a research report "Pipeline Network Market by Offering (Solution and Services), Application (Pipeline Monitoring and Pipeline Operation Optimization), Content, End-User Industry (Crude & Refined Petroleum, Water & Wastewater), and Region - Global Forecast to 2024", published by MarketsandMarkets, the pipeline network market to grow from USD 8.5 billion in 2019 to USD 12.3 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 7.6% during the forecast period. Major factors expected to drive the growth of the Pipeline network market include the rising demand for oil and gas from developing countries, growing demand for commercial off-the-shelf technology, rising big data and analytics trends, and need for maintaining Quality of Experience (QoE) and Quality of Service (QoS) of pipeline transportation.
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By solution, the operation management and
control segment to hold the largest market size during the forecast period
Operation management and
control solutions remotely monitor pipeline operations and their performance.
These solutions follow government regulations and compliance requirements
related to the pipeline infrastructure and are integrated with advanced
Information and Communications Technology (ICT) technologies to gain real-time
control on ongoing pipeline operations. The growing demand for a transparent,
real-time view of a complex pipeline operations for effective pipeline
transportation is one of the major factors driving the demand for operation
management and control solutions in the Pipeline network market.
By pipeline monitoring application, the leak
detection segment to hold the largest market size during the forecast period
Pipeline leak detection is
one of the major pipeline monitoring applications and is required to inspect
cracks, leaks, and holes in the walls of the pipeline infrastructure. Incidents
of liquid or gas spill are increasing day-by-day and a huge amount of liquid or
gas can be released in the surrounding environment, which is hazardous to
animals that live in the vicinity of the accident location. Liquid and gas
companies look forward to avoid financial and human losses, due to pipeline
leakage accidents; thereby, these companies adopt pipeline leakage management
solutions. A growing need to avoid the loss of a significant amount of crude
oil and gas due to pipeline leakage is a major growth factor for this segment.
By crude and refined petroleum end-user
industry, the natural gas segment to account for the highest market share in
2019
Climate change and a demand for low
carbon fuels aids the demand for natural gas across all sectors, especially power
generation. An extremely extensive and elaborate transportation system is
required for natural gas to be moved from the production end to the consumption
end. Transportation systems consist of a complex network of pipelines designed
to quickly and efficiently transport natural gas from its origin to areas of
high natural gas demand. Hence, the growing demand for natural gas consumption
for power generation to drive the demand for pipeline network management
solutions in the natural gas end-user industry.
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North
America to hold the largest market size during the forecast period
The US
and Canada are contributing to the growth of the Pipeline network market in
North America. Oil and gas companies, government bodies, and environmental
agencies in the region are focused on preventing oil spills and gas leaks,
which is one of the important addressable factors as the number of pipelines
has increased in the US and Canada. This compels oil and gas companies to adopt
pipeline network management solutions. Moreover, the presence of key vendors,
such as Honeywell (US), GE (US), Emerson (US), Rockwell Automation (US), Cisco
Systems (US), ORBCOMM (US), and Pure Technologies (Canada), in the region drives
the growth of the Pipeline network market in North America.
Market
Players
Major
vendors in the Pipeline network market include Huawei (China), ABB
(Switzerland), Siemens (Germany), Hitachi (Japan), Schneider Electric (France),
PSI Software (Germany), Honeywell (US), GE (US), Wipro (India), Emerson (US),
Cisco Systems (US), Rockwell Automation (US), Moxa (Taiwan), ORBCOMM (US),
OptaSense (UK), Pure Technologies (Canada), Necon Group (Qatar), Sensornet
(UK), Open Access Technology International (US), and KROHNE Group (Germany).
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