According to a research report "Pipeline Network Market major growth drivers 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 and Quality of Service of the overall pipeline transportation. - Global Forecast to 2024" published by MarketsandMarkets. The Pipeline Network Market size 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 2019–2024.
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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.
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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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