Technavio estimates the oil and gas pipeline monitoring equipment market size to grow by USD 968.32 million between 2020 and 2025, accelerating at a CAGR of 4.5% during the forecast period.
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The market will be mainly driven by the growth in cross-border pipeline infrastructure. The growing global demand for oil and gas has necessitated the need for connecting new exploration sites to refineries and demand centers. This has significantly increased the number of cross-border pipeline projects worldwide. The ongoing TurkStream cross-border pipeline project between Russia and Turkey is one such example. Globally many such cross-border pipeline projects are underway, which is expected to drive the demand for oil and gas monitoring equipment over the forecast period, thereby fueling the market growth.
In addition, developments in drone technology will aid in the growth of the global oil and gas monitoring equipment market. However, the volatile nature of crude oil prices might hinder the growth opportunities for market players.
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Some of the major players along with their key offerings for the oil and gas pipeline monitoring equipment market:
ABB Ltd.: The company offers products that fit the latest ergonomic evolutions in the control room and consoles design, operator effectiveness, and extended operation workspace, under the brand name ABB.
Emerson Electric Co.: The products offered by the company under the brand name Emerson combines business and operational strategies to provide sharper insights leading to intelligent decisions and improved safety conditions.
General Electric Co.: Under the brand General Electronics, the company offers products that help in delivering supported hardware and operating systems.
Honeywell International Inc.: The company offers oil and gas pipeline monitoring equipment that automates various processes including nominations management, metering and reconciliation management, compliance management, capacity planning, KPI management, laboratory information management, pipeline integrity management, and others.
Huawei Investment and Holding Co. Ltd.: The company offers secure, reliable, and uninterrupted pipeline communication systems for its customers. The products offered by the company are backed with the latest technologies such as remote site power supply, IoT, and machine vision security monitoring systems.
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Oil and Gas Pipeline Monitoring Equipment Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.50% |
Market growth 2021-2025 |
USD 968.32 million |
Market structure |
Fragmented |
YoY growth (%) |
3.87 |
Regional analysis |
North America, APAC, Europe, MEA, and South America |
Performing market contribution |
APAC at 35% |
Key consumer countries |
US, China, Russian Federation, Canada, and UK |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
ABB Ltd., Emerson Electric Co., General Electric Co., Honeywell International Inc., Huawei Investment and Holding Co. Ltd., ORBCOMM Inc., QinetiQ Group Plc, Rockwell Automation Inc., Schneider Electric SE, and Siemens AG. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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SOURCE Technavio
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