Pipeline Leak Detection System Market for Oil & Gas Industry

Pipeline Leak Detection System Market for Oil & Gas Industry

Market Insights: Global leak detection system market is expected to gain momentum with growing pipeline network and increasing demand for fossil fuels. Advancement in technology has facilitated the pipeline operators to remote monitoring of pipeline operations. Global pipeline network is about 3.5 million kilometers which is responsible for movement of Oil & Gas products across the globe. Pipelines are considered to be the safest and the most efficient mode of transportation of hydrocarbons as they are hazardous in nature and any spillage or leakage can results in huge loss to the product owner as well as to the environment. Leakage is considered as the most common problem in pipeline operations which not only results in product loss but also can results accidents with huge potential to damage nearby environment. credence logo Recent accident happened in recent past such as explosion in gas pipeline in Minnesota, U.S., and eruption of natural gas pipeline in Nebraska in 2014 has bought in legislation for the pipeline carrying hazardous products to mandatory have leak detection system. Thus, global leak detection system market for Oil & Gas industry is anticipated to driven by factors such as increasing natural gas production, increasing trade of Oil & Gas products coupled with growing pipeline infrastructure and associated regulatory policies. However, volatile oil prices restricting cash flow of the oil producers which is likely have a negative impact on upcoming pipeline project which in turn is expected to restrain the demand for pipeline leak detection system in oil & gas industry. Competitive Insights: Global leak detection system market for Oil & Gas industry is segmented on the basis of technology, product type and geography. By technology, negative pressure wave segment is projected to be the most dominant segment due to easy installation along with low installation cost. Considering segment product type, the natural gas segment to be the largest segment over the forecast period (2016-2023) owing to increasing production of shale gas coupled with growing increasing number of gas based economies. The key players in the market are focusing on research & development of new technologies to enhance accuracy of their products. Overall, global pipeline leak detection system market is projected to register significant growth over the forecast period (2016-2023). Key Trends: • Merger & Acquisition • Development of new technologies Browse the full Global Pipeline Leak Detection System @ http://www.credenceresearch.com/report/pipeline-leak-detection-system-market-for-oil-and-gas-industry oilandgasOil and Gas News Undiluted !!! “The squeaky wheel gets the oil” Follow us: @OilAndGasPress on Twitter | OilAndGasPress on Facebook Contact us / e-mail us your News and Releases: info@oilandgaspress.com Disclaimer Most News articles reported on OilAndGasPress are a reflection of what is published in the media. OilAndGasPress is not in a position to verify the accuracy of daily news articles ]]>

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