New York, Aug. 10, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Pipeline Safety Global Market Report 2021: COVID-19 Growth And Change” – https://www.reportlinker.com/p06128253/?utm_source=GNW
The global pipeline safety market is expected to grow from $7.02 billion in 2020 to $7.75 billion in 2021 at a compound annual growth rate (CAGR) of 10.37%. The growth is mainly due to the network monitoring, increased spending for pipeline infrastructure by oil and gas companies, growing concerns over pipeline security, demand for leak detection, and the increase in the oil and gas leakage incidence/accidents. The market is expected to reach $11.62 billion in 2025 at a CAGR of 10.67%.
The pipeline safety market consists of sales of pipelines by entities (organizations, sole traders, and partnerships) that provide 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 the main network connectivity and also has various benefits such as reduction of liability, less insurance cost, and low administration cost.
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.
North America is the largest region in the pipeline safety market in 2020.Asia-Pacific is expected to grow faster in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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.
In February 2019, Atomiton a California-based company that is engaged in developing internet of things (IOT) technology introduced an AI software that continuously inspects pipelines through multi-sensor data integration that allows modeling of vital equipment like valves. This AI software helps to detect the issues such as leaks, corrosion, freezing damage, or vandalism in pipelines more accurately.
In December 2019, Honeywell, a USA-based company that is engaged in providing building technologies, gas detection solutions announced the acquisition of Rebellion Photonics for an undisclosed amount.This acquisition complements Honeywell strong process technologies and gas detection solutions and accelerates to transform into a software-industrial company.
Rebellion Photonics a USA-based company that is engaged in providing spectral imaging solutions for oil and gas industry that help in real-time continuous gas leak imaging system.
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 countries covered in the pipeline safety market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
Read the full report: https://www.reportlinker.com/p06128253/?utm_source=GNW
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