BURNABY, British Columbia,
August 29, 2014 /PRNewswire/ --
Middle East &
Africa (MEA) Region to Post
Fastest Growth in Global Oil & Gas Pipeline Leak Detection
Market
Over the years, the need for leak detection technologies has
increased significantly on account of growing incidences of
pipeline material failure and associated accidents. Often leakages
are detected when the product seeps into the ground, in the case of
oil, or through smell, in the case of gas. Recent technological
advancements have enabled companies to develop efficient leak
detection systems. According to a recently published TechSci
Research report "Global Oil & Gas Pipeline Leak
Detection Market Forecast & Opportunities, 2019",
the global market for oil & gas pipeline leak detection systems
is forecast to reach USD2.5 billion
by 2019.
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While acoustic and pressure monitoring leak detection are most
widely used techniques, newer technologies such as fiber optic leak
detection and Real Time Transient Model (RTTM) are increasingly
gaining popularity among pipeline operators. Among various
technologies available for pipeline leak detection, the report
encapsulates four technologies that include infra-red detection,
pressure monitoring, fiber optic sensing and flow monitoring.
The Americas dominates the global oil & gas pipeline leak
detection market, and is projected to maintain its position during
the forecast period. Despite the Americas' dominance, the
Middle East & Africa (MEA) region is poised to register
fastest growth during 2014-19, primarily due to expanding pipeline
network, especially in various Middle
East countries. "Going by the hazardous nature of crude oil
and natural gas, pipeline companies are increasingly focusing on
complying with global safety guidelines and government regulations
in order to improve the safety of their operations. Pipeline
operators are realizing the importance of using leak detection
systems for preventing mass-scale accidents and huge monetary
damages. Moreover, growing environmental concerns and increasing
oil & gas exploration activities have peaked the demand for
leak detection systems in the global market. All these factors are
cumulatively expected to drive strong growth in the demand for
pipeline leak detection systems across the globe", said Mr.
Karan Chechi, Research Director with
TechSci Research, a research based global management consulting
firm.
"Global Oil & Gas Pipeline Leak Detection Market
Forecast & Opportunities, 2019" has analyzed the
potential of the pipeline leak detection market and provides
statistics and information on market sizes, shares and trends. The
report will suffice in providing the intending clients with
cutting-edge market intelligence and help them in taking sound
investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers and key
challenges faced by the global pipeline leak detection market.
About TechSci Research
TechSci Research is a global market research and consulting
company with offices in Canada, UK
and India. TechSci Research
provides market research consulting services in six verticals -
Information Technology, Chemicals, Water & Water Recycling,
Consumer Goods & Retail, Automotive and Energy & Power. The
company uses a proprietary innovative business model that focuses
on improved productivity that also ensure the creation of
high-quality reports. With more than 100 client engagements with
fortune 500 clients, TechSci Research enjoys the status of a
premium market research services provider in the industry.
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