Pipeline Excavation Costs Are Getting Higher and Higher, Pipeline Monitoring System Market is Growing
According to the "2022 Global and China Pipeline Monitoring System Industry Report" issued by Newsijie Industry Research Center, the global pipeline monitoring system market will grow from USD 13.7 billion in 2021 to USD 20.5 billion in 2026 at a CAGR of 8.4%.
In recent years, with the booming of global smart water industry market, the cost of excavating pipelines is increasing. Therefore, there is an increasing demand for pipeline monitoring. With the development of innovation technologies on sensors, the pipeline monitoring system market is growing.
The pipeline monitoring system, also known as pipe network monitoring system, relies on modern computer communication technology and sensor technology to realize unmanned remote real-time monitoring of water supply pipelines, to monitor the pressure, flow of pipeline, and to collect information that how the pipeline works accurately. It improves the ability of visualization on comprehensive information of pipeline, discovers the problem of pipe network earlier, improves maintenance efficiency, and reduces losses, which helps achieve the purpose of early warning, cost saving, and efficiency improving.
The Demand for Metal Pipeline Monitoring Systems Will be the largest part of the market
Compared with non-metal pipes, The metal pipe has a wider application field in different industries. It has better heat dissipating capacity than non-metal pipe but poor corrosion resistance, which is one of the main reasons for the largest market share of metal pipe monitoring systems.
Leak Monitoring Service is Estimated to Be the Fastest Growing Segment in the Pipeline Monitoring System Market
The leak monitoring segment is expected to grow with the highest CAGR during the forecast period. The users pay more attention on the control and management of pipeline’ status as well as improvement of automatic processes, which will be able to monitor conditions and issue alerts automatically when something unauthorized happened. The main reasons for the growth of leak monitoring service demand also include factors such as increased investment by oil and gas companies on pipeline monitoring system for their safe transportation through pipelines.
Asia Pacific Will Be the Fastest Growing Regional Market in the Global Pipeline Monitoring System Market During the Forecast Period
The Asia Pacific region is expected to be the fastest-growing region in the global pipeline monitoring system market both in value and volume during the forecast period. Due to the rapid economic growth, the Asia Pacific region also has the fastest pipeline laying rate and the highest growth rate in the demand for pipeline monitoring systems. Expansion of existing pipelines and development of new pipelines caused more oil and gas leakage accidents in pipelines and storage tanks at production facilities. Strict regulations on leak detection technology and implementation by different governments in the Asia Pacific region, and fast-growing industrial market demand will drive the market growth in the Asia Pacific.