Oil & Gas Pipeline Leak Detection Market Size, Growth, Share, Trends and Forecast 2022-2029

1. Global Oil and Gas Pipeline Leak Detection Market on a Robust Growth Trajectory Amidst Growing Efforts to Limit Leak-related Financial Losses An oil or gas pipeline leakage can have drastic effects on the nearby area. Moreover, such happenstances can lead to tremendous financial losses for the organisation. According to the Environmental Protection Agency (EPA), over 1.4% of natural gas is lost due to leaks. Moreover, in 2019, the total loss just due to gas pipeline leaks was stated to be USD 1.8 billion. Such leakage can put the concerned organisation at the receiving end of large-scale fines due to environmental damages. To overcome these challenges, stakeholders are actively investing in next-gen pipeline leak detection systems. Market players are expected to increase their investments in modern acoustic/ultrasonic oil & gas pipeline leak detection technologies. In such a business environment, the global oil & gas pipeline leak detection market is poised to exhibit paced growth in the study period. Stringent Environmental Norms to Steer Global Oil and Gas Pipeline Leak Detection Market to Maturity The scale of investments in the oil & gas industries is of colossal proportions. So much so that just a few per cent of resource wastage can translate into losses worth billions of dollars. Moreover, the industry is now under increased scrutiny from environmental agencies to limit carbon emissions and environmental damage. This has pushed the industry to invest in robust leak proofing technologies. Several governments across the globe have proposed stringent norms to ensure that the risk of leakage remains minimal. Such a business landscape is expected to bode well for the global oil & gas pipeline leak detection market during the forecast period. Get Sample Copy ofOil and Gas Pipeline Leak Detection Market: https://www.fairfieldmarketresearch.com/report/oil-gas-pipeline-leak-detection- market/request-sample Acoustic/Ultrasonic Solutions to Open New Avenues of Market Growth In order to comply with stringent environmental norms, market players in the oil & gas industries are supercharging their R&D efforts to develop a reliable leak-proof system. Against this backdrop, acoustic/ultrasonic technologies are expected to have a notable contribution to the overall demand. The acoustic/ultrasonic technology-based leak detection systems are being employed across single-phase and multiple-phase flow pipelines. These systems utilise sophisticated methodologies to detect leaks quickly. These systems are also suitable for large pipeline leak detection and require relatively straightforward software and sensor setup to get going. These systems’ effectiveness is expected to boost their adoption, consequently creating sound business opportunities for the global oil & gas pipeline leak detection market.

2. Vibrant Exploration Activities in North America to Establish Region’s Leadership Position North America is set to lead the oil & gas pipeline leak detection market in the foreseeable future. One of the key reasons behind this market trend is the rapidly increasing oil & gas exploration activities across the region. Soaring demand for energy has pushed regional market entities to elevate their onshore and offshore exploration efforts. Naturally, this creates a sustained demand for sophisticated oil & gas pipeline leak detection technologies. On the other hand, Asia Pacific is set to post the fastest growth rates owing to promising growth in the regional energy sector. Leading Market Players Some of the major players in the global oil & gas pipeline leak detection market include Siemens AG, Honeywell International Inc, Atmos International, Krohne, ClampOn AS, TTK Leak Detection System, PSI AG, FLIR International, Messtechnik GmbH, Schneider Electric SE, Synodon Inc, Perma-pipe Inc, Laser Diagnostic Instrument, Bridger Photonics Inc, and Arjay Engineering. For More Information ofOil and Gas Pipeline Leak Detection Market: https://www.fairfieldmarketresearch.com/report/oil-gas-pipeline-leak-detection-market About Us Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness. Contact Fairfield Market Research London, UK UK +44 (0)20 30025888 USA (Toll-free) +1 (844) 3829746 Web: https://www.fairfieldmarketresearch.com/ Email: sales@fairfieldmarketresearch.com Follow Us: LinkedIn