Expansion of Natural Gas Pipeline Infrastructure along with Tightening of Regulations to boost the North America’s Oil & Gas Pipeline Leak Detection Systems Market during 2016-22 - 6Wresearch
The growing pipeline infrastructure to deliver energy to domestic and international markets have spurred the market for oil & gas pipeline Leak Detection System (LDS) in the North America region. The market for leak detection system in North America is promising and is offering huge opportunities as large number of pipeline projects have been recently awarded and several are in pipeline.
According to 6Wresearch, The North America Oil & Pipeline Leak Detection System (LDS) market is projected to reach $1.58 billion by 2022. The Oil & Gas pipeline leak detection system market is likely to witness growth in North American region owing to expansion of Oil & Gas pipeline networks/infrastructure and tightening of safety and environmental regulations in the region.
According to Rajat Kharbanda, Senior Consultant, Research and Consulting, 6Wresearch, “In North America, the primarily used leak detection methods are the Compensated Mass Balance (CMB), Real Time Transient Model (RTTM) and Statistical Volume Balance (SVB).”
On the other hand, “Acoustic / negative pressure wave, fiber optic cable and other leak detection methods such as E-RTTM, vapor sensing tubes, infrared radiometer and thermal cameras are not very common in the region and are restricted to certain applications only. Each leak detection method has its own advantage and disadvantage and none of the existing technologies offers complete reliable solution, which is driving the need for more advanced leak detection technologies”, Rajat added.
According to Ravi Bhandari, Research Analyst, Research and Consulting, 6Wresearch, “Compensated mass balance accounts for the maximum revenue share in the overall North America pipeline LDS market. However, statistical volume balance method is the most reliable leak detection method used in the region as it has low false alarm rate. Additionally, the statistical volume balance method is expected to register substantial growth by 2022”
“The North America leak detection industry witnessed slow growth as a result of low oil prices, particularly in the Canada market. However, from 2017 onwards, the market is likely to recover and is exhibited to record growth driven on account of tightening regulations”, Ravi further added.
Some of the major leak detection companies in North America are Energy Solutions International (ESI), Schneider Electric, Atmos, Krohne, DNV GL, Pure Technologies, PSI AG and Enbridge.
The “North America Oil & Gas Pipeline Leak Detection System Market (2016-2022)” report provides in-depth analysis with 50 figures and 26 tables covered in more than 140 pages. The report estimates and forecast the overall North America oil & gas pipeline leak detection system market by revenue, technology, application and country. The report also gives insights on the competitive landscape, market share by companies, market trends, company profiles, market drivers and restraints.
Source Link: http://www.6wresearch.com/press-releases/north-america-oil-gas-pipeline-leak-detection-system-lds-market-media-news-forecast-trends-share-players.html
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