Gas and liquid items are transported vast distances across the nation using pipelines to different locations and to users. These pipelines are known for being a secure and trustworthy way to move dangerous goods across long distances. However, negligent distribution and management of these hazardous products may put people’s lives in danger and have a negative impact on the environment.
The principal organisation for security & transportation, including pipelines, is the Transportation Security Administration, which is a division of the Department of Homeland Security (DHS). Over the projection period, there is likely to be an increase in the need for managing and monitoring fluid dynamics in the oil and gas industry.
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Pipeline Safety Market: Drivers and Restraints
The need for pipelines used to carry hazardous products is predicted to increase due to rising investment in the oil and gas industry and expanding infrastructure development globally, which is predicted to boost the pipeline safety market throughout the forecast period. Additionally, the chemical and power generating industries’ increased worries about pipeline security are anticipated to fuel the market throughout the forecast period.
Additionally, the pipeline safety market is anticipated to benefit from an increase in terrorist attacks, chemical and gas leaks, as well as natural disasters and their influence on pipelines, during the course of the projected period. The demand for pipeline safety has increased as a result of the numerous safety and recovery measures that governments around the world have created, and this demand is expected to continue to grow.
Online hacking and cyber-attacks have increased dramatically over past couple of decades, which is affecting the industrial control system, which in turn is indirectly hampering the growth of pipeline safety market. Moreover, integration & consulting, system design, service support & maintenance are some of the other factor, which are regarded as restrain for the pipeline safety market.
The companies involved in providing pipeline safety are focusing on developing technologies such as smart pigging, laser scanning & leak detector.
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Pipeline Safety Market: Segmentation
The global Pipeline Safety market can be segmented as follows:
Pipeline SafetyMarket, by Technology & Solutions
- Perimeter intrusion detection
- Video surveillance
- Satellite Monitoring
- Pipeline monitoring system
- Leakage detection system
- Secure communication
- Supervisory Control and Data Acquisition (SCADA) for pipelines
- Pig tracking
- Integrated fiber optics monitoring
- Industrial control system security
Pipeline Safety Market, byservice
- Consulting
- Professional
- Risk Management
- Repair & Maintenance
- Integrity management
Pipeline Safety Market, by Vertical
- Natural Gas
- Crude Oil
- Refined products
- Others
Pipeline Safety Market: Regional Outlook
Geographically, the global Pipeline Safety market can be divided into major regions which include North America, Latin America, Western and Eastern Europe, Asia Pacific excluding Japan (APEJ), Japanand the Middle East and Africa (MEA).In terms of demand it is anticipated that North America will dominate global Pipeline Safety market.
The U.S. due to refinery expansion is expected to dominate North America market over the forecast period. Asia Pacific, due to growing economies and industrial activities in India and China is expected to follow North America during the forecast period. Rest of the world (ROW) are projected to have moderate growth in Pipeline Safety market in coming years.
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Pipeline Safety Market: Key Players
The key players in the global Pipeline Safety marketare
- General Electric
- Schneider Electric
- Siemens AG
- ABB Group
- Honeywell International
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