Global Pipeline Safety Market accounted for USD 6.3 billion in 2016 growing at a CAGR of 10.1% during the forecast period of 2017 to 2024.
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Pipelines are referred to be the safest mode of transferring natural gas and other related products. Pipeline safety is needed because of many reasons such as increased use of oil and gas companies.
It is widely applicable natural gas, crude oil, refined products, and others. Expansion and upgradation of refineries, drilling sites, and exploration of new Sites may act as the major driver in the growth of pipelines safety market.
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On the other hand, growing population and political instability in the Middle East may hamper the market.
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The Global Pipeline Safety Market accounted for USD 6.3 billion in 2016 growing at a CAGR of 10.1% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic year 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Industry Share Analysis:
The report for global pipeline safety market include detailed vendor level analysis for market shares in 2016 for Global, North America, Europe, Asia Pacific, Middle East and Africa and South America specifically. Also impact and development analysis of key vendors is registered in the market and factored on the basis of Vendor Positioning Grid Analysis which measures the vendors strengths and opportunities against present market challenges, measure providers ability to identify or satisfy present market needs, map providers market vision to current and upcoming market dynamics among others.
The report also measures technology life line curve and market time line to analyze and do more affective investments.
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- GENERAL ELECTRIC
- Schneider Electric
- Siemens AG
- BAE Systems
- Future Fibre Technologies
- Thales Group
- Senstar Corporation
- Among others
Major Market Drivers & Restraints:
- Balanced use of resources
- Increased spending by oil & gas companies for infrastructure and network protection
- Expansion and upgradation of refineries, drilling sites, and exploration of new Sites
- Lack of apprehensions
- Growing population and political instability in the middle east
On the basis of technology and solution into perimeter intrusion detection, secure communication, SCADA for pipeline, pipeline monitoring system, industrial control systems security (ICS). The secure communication segment is further sub segmented into satellite monitoring and GIS mapping, and video surveillance.
The pipeline monitoring system segment is further sub segmented into leakage detection, external threat detection, pig tracking, and integrated fiber optic monitoring.
On the basis of service, the global pipeline safety market is segmented into pipeline integrity management services, and professional services. The professional services segment is further sub segmented into risk management, consulting services, and repair and maintenance
On the basis of vertical, the global pipeline safety market is segmented into natural gas, crude oil, refined products, and others.
On the basis of geography, the global pipeline safety market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
In 2017, North America is expected to dominate the market.
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