The global pipeline safety market size is expected to grow from USD 7.9 billion in 2020 to USD 12.2 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 9.2% during the forecast period. The major driving factors in the pipeline safety industry are improved spending by most oil & gas companies for pipeline infrastructure, network monitoring, leak detection, and a rise in the number of oil & gas leakage incidence/accidents.
Need to understand the customer needs for tailor-made pipeline safety solutions to drive the growth of pipeline safety services during the forecast period
The demand for pipeline safety services is driven by the growing need for improved pipeline operations performance about pipeline operation scheduling and reduced operational cost of liquid/gas delivery across the globe. The success of pipeline safety depends on how well pipeline solutions are implemented and used to handle its operations. Pipeline safety service providers ensure the pipeline management strategy is tailored as per the organizations specific business objectives to leverage the benefits of pipeline safety solutions fully. With the increasing adoption of solutions, the demand for associated services is also growing among end-users. The benefits gained by the effective utilization of pipeline safety solutions and offering tailor-made solutions as per the needs of organizations are the major factors driving the demand for services associated with pipeline safety solutions.
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Rising demand to monitor proper pipeline functioning and avoid disturbance in operating conditions to drive the growth of the pipeline monitoring systems segment to hold a larger market size
Pipeline monitoring is required to detect small pipeline leaks faster and more reliably while simultaneously monitoring third-party interferences and other external pipeline threats to prevent leaks altogether. Pipeline monitoring improves control over pipeline network assets. It automates the process to improve productivity, enabling readers to monitor their assets current condition and raise the alarm in case of unauthorized events. Pipeline monitoring further offers various detector applications to monitor leaks and events of third-party interference, geohazards, thefts, critical infrastructure, and inline inspection tools in real-time from a single operating system.
The major pipeline safety vendors include ABB (Switzerland), Siemens AG (Germany), Schneider Electric (France), Baker Hughes (US), Honeywell (US), Huawei Technologies (China), AVEVA (UK), PSI AG (Germany), BAE Systems (UK), TransCanada (Canada), Atmos International (UK), Clampon AS (Norway), FFT (Australia), Perma-Pipe (US), Senstar (Canada), Syrinix (UK), RADIOBARRIER (Russia), Pure Technologies (Canada), C-Fer Technologies (Canada), Total Safety (US), Krohne Group (Germany), PLM CAT (US), Leater (Ukraine), and TTK (France). These players have adopted various growth strategies, such as partnerships, agreements & collaborations, and new product launches, to further expand their presence in the global pipeline safety market. Partnerships and new product launches have been the most dominating strategy adopted by the major players from 2018 to 2020, which has helped them innovate on their offerings and broaden their customer base.
ABB was incorporated in 1988 with the merger of Asea AB and BBC Brown Boveri AG. The company is headquartered in Zurich, Switzerland. It deals through four vertically integrated businesses: Electrification, Industrial Automation, Motion, and Robotics and Discrete Automation for its industrial customers, globally. The company announced the sale of its Power Grids business in December 2018 and will be divested to Hitachi in 2020. It is a public listed company listed on SIX Swiss Exchange under the ticker symbol of ABBN and ABB in NASDAQ. ABB offers its services to diverse verticals, including automotive, food and beverages, chemical, marine, oil and gas, power, and building and infrastructure. The company has a presence in more than 100 countries and generates financial revenue from the Americas, Europe, APAC, and MEA. In the pipeline safety market, ABB offers various solutions, which include Offshore and Onshore solutions; Midstream and Transportation solutions; ABB Ability Platform; and Oil, gas, and petrochemical operations management software to ensure communication technology keeps pace with the changing needs of the industry and implement innovative solutions for increased efficiency in the future.
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Siemens AG was incorporated in 1847 and is headquartered in Munich, Germany. It is a technology company, which has core activities that include electrification, automation, and digitalization. The company provides products and solutions to various verticals: aerospace, automotive, battery manufacturing, chemical industry, cement, cranes, data centers, distributors, fiber industry, food and beverages, glass, machinery and plant construction, marine, mining, municipalities & Distribution System Operators (DSOs), oil & gas, panel building, pharmaceutical industry, power utilities, tire industry, transportation and logistics, and water industry. It is a public listed company listed in Xetra under the ticker symbol of SIE. Siemens AG has various segments consisting of the three Operating Companies: Digital Industries, Smart Infrastructure, and Gas & Power; and three Strategic Companies: Mobility, Siemens Healthineers, and Siemens Gamesa, Renewable Energy. These six businesses are collectively known as Industrial Businesses. The company has a presence in more than 200 countries with a geographic presence in North America, Europe, APAC, MEA, and Latin America. Siemens offers pipeline safety solutions for upstream, midstream, and downstream applications. The company provides solutions that can stand with the challenges of the oil industrys harsh environmental conditions. Solutions include Pipelines 4.0, SmartPump for oil pipelines, and Siemens Topsides 4.0 digital life cycle solution.
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