Pipeline Monitoring System Global Market Report 2024

The pipeline monitoring system market size has grown strongly in recent years. It will grow from $15.06 billion in 2023 to $16.33 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth observed in the historical period can be credited to the increase in pipeline expansion projects, efforts in incident prevention, the aging of infrastructure, a focus on risk management, operational optimization, and heightened environmental awareness.

The pipeline monitoring system market size is expected to see strong growth in the next few years. It will grow to $22.42 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The anticipated growth in the forecast period can be ascribed to factors such as the integration of big data analytics, IoT (Internet of Things), efforts in climate change adaptation, a heightened focus on cybersecurity, and the ongoing global energy transition. Significant trends expected in the forecast period encompass the utilization of advanced analytics and AI (artificial intelligence), remote monitoring and control, cybersecurity measures, the integration of drones and UAVs (unmanned aerial vehicles), predictive maintenance, and environmental monitoring.

The pipeline monitoring system market is anticipated to experience substantial growth in the foreseeable future, primarily propelled by the expansion of pipeline infrastructure. Pipeline infrastructure encompasses privately, publicly, or cooperatively owned lines, facilities, or systems transmitting gas, oil, petroleum products, and similar substances. Pipeline monitoring systems, leveraging IoT sensors, contribute to monitoring solutions by alerting pipelines and dispatching technicians to pinpoint locations. A report from the Australia and New Zealand Banking Group Limited (ANZ) in May 2021 highlighted a significant increase in Australia's major infrastructure project pipeline, amounting to a $21 billion year-on-year surge in 2021-22. Australia saw the construction of 600 kilometers of pipeline, with an additional 12,200 kilometers under consideration, totaling $18.2 billion. The global pipeline development activity reached $485.8 billion by 2022-23, including 408 new pipelines, with 70,900 km under construction and an additional 122,500 km planned. This surge in pipeline infrastructure is a driving force behind the pipeline monitoring systems market.

The escalating demand for water is expected to be a key driver for the growth of the pipeline monitoring systems market in the forecast period. Increased water consumption, particularly in urban and industrial areas, has led to extensive pipeline networks for water supply and wastewater management. This surge in pipeline infrastructure has elevated the demand for pipeline monitoring systems, crucial for detecting leaks, ensuring pipeline integrity, and preventing environmental damage. According to the Nature Journal, global water demand for all uses is approximately 4,600 km3 per year, projected to increase by 20% to 30% by 2050, reaching 5,500 to 6,000 km3 per year. Consequently, the growing water usage is poised to drive the pipeline monitoring systems market.

Technological advancements have emerged as a prominent trend in the pipeline monitoring system market, with major companies striving to innovate and maintain their market positions. A notable example is ABB Ltd., which, in April 2021, introduced HoverGuard, the world's fastest and most sensitive drone-based gas leak detection system. This system efficiently identifies, measures, and maps gas leaks up to 100 meters away from natural gas pipelines and other potential sources, generating precise digital reports instantly. This technology represents a significant environmental and technological advancement in gas leak detection.

Companies operating in the pipeline monitoring system market are also focusing on launching new products to sustain their market presence. For instance, in March 2023, Eni introduced Enivibes, a technology designed to enhance the market value of the vibroacoustic pipeline monitoring system. Known as Eni Vibroacoustic Pipeline Monitoring System (E-VPMS), this technology supports real-time analysis and monitoring activities on new or existing pipelines used for water and hydrocarbon transportation.

In March 2022, Baker Hughes, an energy technology company based in the United States, acquired Qi2 Elements for an undisclosed amount. This acquisition positions Baker Hughes to assess a broader range of critical client equipment, including pipelines and storage facilities. Qi2 Elements, a US-based company specializing in advanced robotic sensor systems for pipelines, contributes to Baker Hughes' capabilities in pipeline monitoring.

Major companies operating in the pipeline monitoring system market report are ABB Ltd., Emerson Electric Company, Honeywell International Inc., Huawei Investment & Holding Co. Ltd., ORBCOMM Inc., Siemens AG, Schneider Electric SE, QinetiQ Group plc, Rockwell Automation Inc., TransCanada PipeLines Limited, PSI Group Inc., Pure Technologies Ltd., BAE Systems Inc., Pentair plc, Badger Meter Inc., Bentek Systems Ltd., General Electric Company, Perma-Pipe International Holdings Inc., AVEVA Group plc, Yokogawa Electric Corporation, OptaSense Ltd., International Business Machines Corporation, HollySys Automation Technology Co. Ltd., Inductive Automation Software LLC, Atmos International plc, Syrinix Ltd., Hifi Engineering (China) Co. Ltd., KROHNE Messtechnik GmbH, Sensornet Ltd., TTK Corporation.

North America was the largest region in the pipeline monitoring system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the pipeline monitoring system market report during the forecast period. The regions covered in the pipeline monitoring system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the pipeline monitoring system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary categories of pipeline monitoring systems include metallic, non-metallic, concrete pipes, and asbestos cement pipes. Metallic pipes encompass various types, such as cast iron pipe, copper tubing, stainless steel pipe, galvanized steel pipe, and regular steel pipe. Technologies such as ultrasonic, PIG (pipeline inspection gauge), small ball, magnetic flux leakage, fiber optic, among others, are employed for diverse applications, including enhancing operating efficiency, detecting leaks, identifying pipeline breaks in oil and gas, water and wastewater systems, and other end-user scenarios.

The pipeline monitoring system market research report is one of a series of new reports that provides pipeline monitoring system market statistics, including pipeline monitoring system industry global market size, regional shares, competitors with a pipeline monitoring system market share, detailed pipeline monitoring system market segments, market trends, and opportunities, and any further data you may need to thrive in the pipeline monitoring system industry. This pipeline monitoring system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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