Growing demand for fuel around the world has been major driving factor in the global market for oil & gas pipeline network. However, such kind of increasing expansion in the network of pipeline is also possessing bigger threats as the pipeline leakage risk significantly increases.
As the pipelines of oil and gas are filled with hazardous material so a single leak might convert into a potential disaster . These leakages from oil & gas pipelines major result into severe accidents which have been witnessed in different regions in the past.
Pipeline material corrosion and failure have been the key reasons of leakage in pipelines of oil and gas. Leakages from pipeline cause major loss for an organization.
The report on the global oil and gas pipeline leak detection equipment market uses the top-down and bottom-up approaches to define, analyze, and describe the market trends for the next five years. The report also tracks the emerging applications, innovative technologies, and mergers & acquisitions.
It also focuses on the growth drivers and restraints for the key market players during the forecast period.
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Regionally, the global oil and gas pipeline leak detection equipment market is segmented into North America, Europe, Asia-Pacific, and the rest of the world. Among these, North America is the major market player in the regional market owing to a wide-ranging pipelines network.
North America followed by Europe was leading in the global market with maximum market share in the past few years. However, the Middle East & Africa market is estimated to grow with fast pace over the forecast period and will witness rising market share in the coming years.
The reason behind the growth in this region is large no. of projects that are planned for pipeline construction.
This report analyzes the oil and gas pipeline leak detection equipment market by the following segments:
- Oil and Gas Pipeline Leak Detection Equipment Market, by Technology
- Mass-Volume Balance
- Fiber Optics
- Vapor Sensing
- Oil and Gas Pipeline Leak Detection Equipment Market, by Location
- Oil and Gas Pipeline Leak Detection Equipment Market, by Equipment Type
- Acoustic Sensors
- Cable Sensors
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