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The Global Pipeline Safety Market was valued at USD 5.85 billion in 2016 and is projected to reach USD 13.40 billion by 2025, growing at a CAGR of 9.65% from 2017 to 2025.
Pipelines are recognized as a safe and reliable means of transporting hazardous products over significant distances. Pipeline safety is defined as a range of general duties which are applicable to all pipelines, and additional duties for major accident hazard pipelines which transport products defined as dangerous fluids. Benefits of pipeline safety includes - reduced administration costs, reduced insurance and liability costs, reduced costs from injuries and illness, and improved level of compliance.
1. Market Drivers
1.1 Rising security regulations and standards
1.2 Increasing demand of oil and gas in developing economies
1.3 Increasing sustainable use of resources
1.4 Up gradation of refineries, drilling sites and exploration of new sites
2. Market Restraints
2.1 Budget constraints
2.2 Issues with multi-site facilities for implementing comprehensive security solutions
2.3 Increasing population and political instability
The Global Pipeline Safety Market is segmented on the Service, Solution, vertical, and region.
1. By Service:
1.1 Repair and maintenance
1.2 Professional services
1.3 Risk management
1.4 Pipeline integrity management
1.5 Consulting services
2. By Solution:
2.1 Video surveillance
2.2 Perimeter intrusion detection
2.3 Industrial control system security
2.4 SCADA for pipelines
2.5 Pipeline monitoring system
2.6 Leakage detection
2.7 Integrated fiber optics monitoring
2.8 Secure communication
2.9 Satellite monitoring, External threat
2.10 Pig tracking
3. By Vertical:
3.1 Natural gas
3.2 Crude oil
3.3 Refined products
4. By Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa
The major players in the market are as follows:
1. General Electric
2. Huawei Technologies Co. Ltd.
3. ABB Group
4. BAE Systems
5. Honeywell International Inc.
6. Thales Group
7. Schneider Electric Se
8. Senstar, Inc.
9. Siemens AG
11. Future Fiber Technologies
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Global Pipeline Safety Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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