Global Gas and Oil Pipeline Leak Detector Market Report 2024 - A $3.76 Billion Market by 2028, Registering a CAGR of 4.9%

Dublin, March 18, 2024 (GLOBE NEWSWIRE) -- The "Gas and Oil Pipeline Leak Detector Global Market Report 2024" has been added to * ResearchAndMarkets.com's* offering.

The gas and oil pipeline leak detector market size has grown strongly in recent years, from $2.95 billion in 2023 to $3.1 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The expansion observed in the historical period can be attributed to several factors, including economic influences, industry consolidation leading to more efficient operations, enhanced incident response measures, the evolution of regulatory frameworks governing pipeline safety, ongoing infrastructure development, and the initial adoption of relevant technologies within the sector. These elements collectively contributed to the growth and development of gas and oil pipeline leak detection during that time.

The market size is expected to see continued growth, reaching $3.76 billion in 2028 at a CAGR of 4.9%. The anticipated growth in the forecast period is expected to be driven by factors such as market expansion, the rise of emerging economies contributing to increased demand, heightened investments in research and development, stricter regulatory frameworks governing pipeline safety, a growing emphasis on preventive maintenance measures, and evolving environmental priorities shaping industry practices.

The escalating global demand for energy is anticipated to act as a catalyst for the expansion of the oil and gas pipeline leak detector market. These detectors play a crucial role in identifying and preventing leaks in pipelines, safeguarding valuable oil and gas resources. As per the Energy Information Administration (EIA), the United States observed a 3% rise in primary energy consumption in 2022, reaching 100.4 quadrillion British thermal units (quads). With fossil fuels constituting 79% of this consumption, primarily driven by petroleum, natural gas, and coal, the heightened energy consumption globally is a driving force behind the growth of leak detection systems in oil and gas pipelines.

The surge in oil and gas consumption worldwide is poised to significantly propel the oil and gas pipeline leak detector market. This heightened consumption across various stages of oil and gas operations from drilling to transportation that creates an imperative need for robust systems to monitor critical data like pressure, flow rates, and temperature through sensors. For instance, recent data from the US Energy Information Administration reveals a substantial uptick of 5.3 million barrels per day (b/d) in oil consumption in 2021, with further projections of increases by 1.4 million b/d in 2023 and 1.8 million b/d in 2024. This increased consumption is a key driving force behind the expansion of the leak detector market in the oil and gas sector.

Technological advancements emerge as a prominent trend shaping the oil and gas pipeline leak detector market landscape. Leading companies in this sector are strategically focusing on innovative product development to fortify their market positions. A case in point is the November 2022 launch by Hawk Measurement Systems of the Praetorian System, utilizing Fiber Optic Sensing (FOS) technology for real-time monitoring of oil and gas pipeline infrastructure. This cutting-edge system employs Fiber Optic Cables placed along pipelines to detect variations in sound, stress, temperature, or vibration. Through multi-variable sensing, it cross-references and identifies leaks by analyzing temperature and vibration changes, exemplifying the technological strides in this sector.

Major players in the gas and oil pipeline leak detector market are introducing pioneering products such as the Panther gas leak detector to enhance leak detection capabilities. For instance, in June 2023, ION Science introduced the Panther gas leak detector, boasting advanced features and double the sensitivity of its predecessor, the GasCheck G. Leveraging infrared, laser-based, or ultrasonic sensors, this device detects gas presence in the environment at exceptionally low concentrations. Its advanced technology enables early detection of gas leaks, mitigating potential hazards and addressing issues before they escalate, reflecting the continued innovation in gas leak detection equipment.

These detectors come in various types based on their location, primarily categorized as onshore and offshore. Onshore detectors are employed in the exploration and production of oil fields, gas reserves, and geothermal energy on land. They specifically identify gas flowline breaches using technology that monitors changes in frictional losses caused by a leak. These detectors operate across different mediums such as oil, condensate, and natural gas, utilizing a range of technologies including acoustic sensors, flowmeters, cable sensors, vapor sensors, among others. These technologies are applied in various detection methods like fiber optic, pressure sensors, infra-red detection, and flowmeters to effectively detect and address leaks in oil and gas pipelines both onshore and offshore.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

*Markets Covered:*

· By Location: Onshore; Offshore
· By Medium: Oil and Condensate; Natural Gas
· By Technology: Acoustic Sensors; Flowmeters; Cable Sensors; Vapor Sensors; Other Technologies
· By Application: Fiber Optic; Vapor Sensors; Pressure Sensors; Infra-Red Detection; Flowmeters

*Countries:* Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain

*Regions:* Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

*Time Series:* Five years historic and ten years forecast

*Data:* Ratios of market size and growth to related markets, GDP proportions, expenditure per capita

*Data Segmentation:* Country and regional historic and forecast data, market share of competitors, market segments

*Companies Profiled*

· Schneider Electric
· Synodon Inc.
· Siemens AG
· Teledyne FLIR LLC
· Atmos International Ltd.
· Clampon AS
· TTK Leak Detection System
· Honeywell International Inc.
· Pentair plc
· PSI AG
· Krohne Messtechnik GmbH
· Pure Technologies Ltd.
· Perma-pipe Inc.
· Laser Diagnostic Instruments AS
· Arjay Engineering
· Asel-Tech Inc.
· Yokogawa International Inc.
· Areva S.A.
· ABB Ltd.
· Bridger Photonics Inc.
· Yokogawa Electric Corp.
· Tenaris Inc.
· Mott Macdonald Group Ltd.
· Nippon Steel Corporation
· ChelPipe Group
· British Petroleum plc
· Qatar Jet Fuel Company
· Bharat Petroleum Corp. Ltd.
· Gazprom Neft PJSC
· Primoris Services

For more information about this report visit https://www.researchandmarkets.com/r/9nbda2

*About ResearchAndMarkets.com*
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

CONTACT: CONTACT: ResearchAndMarkets.com
Laura Wood,Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900