HOME Top Market Reports Leak Detection Market for Oil & Gas by Technology (Acoustic, E-RTTM, Cable Based, Mass/Volume Balance, Laser Absorption and LIDAR, Vapor Sensing, Thermal Imaging), and Region - Global Forecast to 2022

Leak Detection Market for Oil & Gas by Technology (Acoustic, E-RTTM, Cable Based, Mass/Volume Balance, Laser Absorption and LIDAR, Vapor Sensing, Thermal Imaging), and Region - Global Forecast to 2022

By: marketsandmarkets.com
Publishing Date: February 2017
Report Code: SE 3855

 

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The leak detection market for oil and gas was valued at USD 2.10 Billion in 2015 and is expected to reach USD 3.38 Billion by 2022, at a CAGR of 6.9% between 2016 and 2022. The base year considered for the study is 2015 and the forecast period is between 2016 and 2022.

This report provides a detailed analysis of the leak detection market for oil and gas based on technology for oil and condensate, technology for natural gas, and geography. The report forecasts the market size, in terms of value, for various segments with regard to six main regions North America, South & Central America, the Middle East, Africa, Europe, and Asia-Pacific (APAC). It strategically profiles the key players and comprehensively analyzes their market rankings and core competencies, along the detailed competitive landscape for the market leaders.

The research methodology used to estimate and forecast the leak detection market for oil and gas begins with capturing data on key vendor revenues through secondary research. The secondary sources include British Petroleum Data, U.S. Energy Information Administration, World Oil News, among others. The vendor offerings have also been taken into consideration to determine the market segmentation. The bottom-up procedure has been employed to arrive at the overall size of the global leak detection market for oil and gas from the revenue of key players in the market. After arriving at the overall market size, the total market has been split into several segments and subsegments, which have been verified through primary research by conducting extensive interviews with people holding key positions in the industry such as CEOs, VPs, directors, and executives. The data triangulation and market breakdown procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of the profiles of primary respondents has been depicted in the below figure.

To know about the assumptions considered for the study, download the pdf brochure

The leak detection market for oil and gas comprises raw material and component providers, product manufacturers, distributors, and end users. The players operating in the leak detection market for oil and gas include Honeywell International Inc. (U.S.), PSI AG (Germany), Siemens AG (Germany), FLIR Systems Inc. (U.S.), KROHNE Messtechnik GmbH (Germany), Schneider Electric SE (France), Synodon Inc. (Canada), Atmos International (U.K.), Clampon AS (Norway), TTK Leak Detection System (France), Pentair PLC (U.K.), Pure Technologies Ltd. (Canada), Perma-Pipe Inc. (U.S.), Sensit Technologies LLC (U.S.), and Bridger Photonics Inc. (U.S.).

Key Target Audience

  • Original equipment manufacturers (OEMs), oil and gas companies, or pipeline operators
  • Electronics product manufacturers or end users
  • Raw material and manufacturing equipment suppliers
  • Semiconductor component manufacturers and distributors
  • Manufacturers, distributors, and suppliers of various types of leak detection systems for oil and gas
  • Software providers
  • Research organizations
  • Technology standards organizations, forums, alliances, and associations
  • Government, financial institutions, and investor communities
  • Analysts and strategic business planners
  • Associations, organizations, and alliances related to the leak detection for industry oil and gas

“This study answers several questions for the stakeholders, primarily which market segments to focus on in the next two to five years for prioritizing efforts and investments.”

Scope of the Report:

This research report categorizes the global leak detection market for oil and gas on the basis of technology for oil and condensate, technology for natural gas, and geography.

Leak detection market for oil  and condensate, by Technology

  • Acoustic/Ultrasonic
  • E-RTTM
  • Fiber-Optic
  • Vapor Sensing
  • Mass/Volume Balance
  • Others

Leak detection market for natural gas, by technology

  • Acoustic/Ultrasonic
  • Statistical and Real-Time Monitoring
  • Cable Based
  • Flow Monitoring
  • Laser Absorption and LIDAR
  • Vapor Sensing
  • Thermal Imaging
  • Others

Leak detection market for oil and gas, by Geography:

  • North America
  • South & Central America
  • Europe
  • Asia-Pacific (APAC)
  • Middle East
  • Africa

Available customizations:

With the given market data, MarketsandMarkets offers customizations according to the companies’ specific needs. The following customization options are available for the report:

Company Information:

Detailed analysis and profiling of additional market players (up to five)

Table of Contents

1 Introduction (Page No. - 15)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 19)
    2.1 Leak Detection Market for Oil & Gas: Scope Definition
           2.1.1 Research Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Primary Interviews With Experts
                    2.1.2.2 Breakdown of Primaries
                    2.1.2.3 Key Industry Insights
    2.2 Market Size Estimation
           2.2.1 Bottom-Up and Top-Down Approaches
           2.2.2 Bottom-Up Approach
                    2.2.2.1 Approach for Capturing the Market Share By Bottom-Up Analysis (Demand Side)
           2.2.3 Top-Down Approach
                    2.2.3.1 Approach for Capturing the Market Share By Top-Down Analysis (Supply Side)
    2.3 Market Breakdown and Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 30)

4 Premium Insights (Page No. - 35)
    4.1 Leak Detection Market for Oil & Gas, 2016–2022 (USD Million)
    4.2 Market for Oil & Gas, By Technology
    4.3 Market for Oil & Gas, By Region and Technology
    4.4 Market for Oil & Gas: Geographical Snapshot (2015)

5 Market Overview (Page No. - 39)
    5.1 Introduction
    5.2 Market Segmentation
           5.2.1 Leak Detection Market for Oil & Condensate, By Technology
           5.2.2 Leak Detection Market for Natural Gas, By Technology
           5.2.3 Leak Detection Market for Oil & Gas, By Geography
    5.3 Market Dynamics
           5.3.1 Drivers
                    5.3.1.1 Increasing Incidents of Oil & Gas Leakages in Pipelines and Storage Tanks at Production Facilities
                    5.3.1.2 Development and Expansion of Existing Pipelines and Construction of New Pipelines
                    5.3.1.3 Stringent Government Regulations Pertaining to the Implementation of Leak Detection Systems
           5.3.2 Restraints
                    5.3.2.1 Retrofitting of Some Leak Detection Systems
           5.3.3 Opportunities
                    5.3.3.1 Rising Oil & Gas Exploration and Production Activities Worldwide
                    5.3.3.2 Increasing Oil & Natural Gas Consumption and Environmental Concerns
           5.3.4 Challenges
                    5.3.4.1 Lack of Technological Advancements in Offshore Leak Detection Systems

6 Industry Trends (Page No. - 47)
    6.1 Introduction
    6.2 Value Chain Analysis
    6.3 Porter’s Five Forces Analysis: Leak Detection Market for Oil & Gas
           6.3.1 Bargaining Power of Suppliers
           6.3.2 Bargaining Power of Buyers
           6.3.3 Threat of Substitutes
           6.3.4 Threat of New Entrants
           6.3.5 Intensity of Competitive Rivalry

7 Leak Detection Market for Oil & Condensate, By Technology (Page No. - 55)
    7.1 Introduction
    7.2 Acoustic/Ultrasonic
    7.3 Extended Real-Time Transient Model (E-RTTM)
    7.4 Fiber Optic
    7.5 Mass/Volume Balance
    7.6 Vapor Sensing Tubes
    7.7 Others

8 Leak Detection Market for Natural Gas, By Technology (Page No. - 60)
    8.1 Introduction
    8.2 Acoustic/Ultrasonic
    8.3 Statistical and Real-Time Monitoring
    8.4 Cable Based
    8.5 Flow Monitoring
    8.6 Laser Absorption and Lidar
    8.7 Vapor Sensing
    8.8 Thermal Imaging
    8.9 Others

9 Leak Detection Market Bygeography (Page No. - 77)
    9.1 Introduction
    9.2 North America
           9.2.1 U.S.
           9.2.2 Canada
           9.2.3 Mexico
    9.3 South & Central America
           9.3.1 Argentina
           9.3.2 Brazil
           9.3.3 Colombia
           9.3.4 Venezuela
           9.3.5 Rest of South & Central America
    9.4 Europe
           9.4.1 Russia
           9.4.2 Ukraine
           9.4.3 U.K.
           9.4.4 Germany
           9.4.5 France
           9.4.6 Italy
           9.4.7 Rest of Europe
    9.5 Asia-Pacific
           9.5.1 China
           9.5.2 India
           9.5.3 Australia
           9.5.4 Kazakhstan
           9.5.5 Japan
           9.5.6 Rest of APAC
    9.6 Middle East
           9.6.1 Iran
           9.6.2 Saudi Arabia
           9.6.3 Iraq
           9.6.4 Egypt
           9.6.5 Oman
           9.6.6 UAE
           9.6.7 Rest of Middle East
    9.7 Africa
           9.7.1 Algeria
           9.7.2 Nigeria
           9.7.3 Libya
           9.7.4 Sudan
           9.7.5 Rest of Africa

10 Competitive Landscape (Page No. - 127)
     10.1 Overview
     10.2 Market Ranking Analysis
     10.3 Competitive Situation and Trends
             10.3.1 New Product Launches
             10.3.2 Agreements, Partnerships, and Contracts
             10.3.3 Mergers & Acquisitions
             10.3.4 Expansions

11 Company Profiles (Page No. - 133)
(Company at A Glance, Recent Financials, Products & Services, Strategies & Insights, & Recent Developments)*
     11.1 Introduction
     11.2 Honeywell International Inc.
     11.3 PSI AG
     11.4 Siemens AG.
     11.5 Flir Systems, Inc.
     11.6 Krohne Messtechnik GmbH
     11.7 Schneider Electric Se.
     11.8 Synodon Inc.
     11.9 Atmos International
     11.10 Clampon as
     11.11 TTK-Leak Detection System
     11.12 Pentair PLC.
     11.13 Pure Technologies Ltd.
     11.14 Perma-Pipe, Inc.
     11.15 Sensit Technologies LLC.
     11.16 Bridger Photonics Inc.

*Details on Company at A Glance, Recent Financials, Products & Services, Strategies & Insights, & Recent Developments Might Not Be Captured in Case of Unlisted Companies.

12 Appendix (Page No. - 171)
     12.1 Insights of Industry Experts
     12.2 Discussion Guide
     12.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     12.4 Introducing RT: Real-Time Market Intelligence
     12.5 Available Customizations
     12.6 Related Reports
     12.7 Author Details


List of Tables (71 Tables)

Table 1 List of Major Secondary Sources
Table 2 Leak Detection Market for Oil & Condensate, By Technology
Table 3 Leak Detection Market for Natural Gas, By Technology
Table 4 Leak Detection Market for Oil & Gas, By Geography
Table 5 Oil & Gas Leak Incidents (2013–2016)
Table 6 Leak Detection Market, 2014–2022 (USD Million)
Table 7 Market for Oil & Condensate, By Technology, 2014–2022 (USD Million)
Table 8 Market for Natural Gas, By Technology, 2014–2022 (USD Million)
Table 9 Market for Acoustic/Ultrasonic Technology for Natural Gas, By Region, 2014–2022 (USD Million)
Table 10 Market for Acoustic/Ultrasonic Technology for Oil & Gas, By Region, 2014–2022 (USD Million)
Table 11 Market for Statistical and Real-Time Monitoring Technology for Natural Gas, By Region, 2014–2022 (USD Million)
Table 12 Market for E-RTTM Technology for Oil & Gas, By Region, 2014–2022 (USD Million)
Table 13 Leak Detection Market for Cable-Based Technology for Natural Gas, By Region, 2014–2022 (USD Million)
Table 14 Market for Cable-Based Technology for Oil & Gas, By Region, 2014–2022 (USD Million)
Table 15 Market for Flow Monitoring Technology for Natural Gas, By Region, 2014–2022 (USD Million)
Table 16 Market for Mass/Volume Balance Technology for Oil & Gas, By Region, 2014–2022 (USD Million)
Table 17 Market for Laser Absorption and Lidar Technology for Natural Gas, By Region, 2014–2022 (USD Million)
Table 18 Leak Detection Market for Vapor Sensing Technology for Natural Gas, By Region, 2014–2022 (USD Million)
Table 19 Market for Vapor Sensing Technology for Oil & Gas, By Region, 2014–2022 (USD Million)
Table 20 Market for Thermal Imaging Technology for Natural Gas, By Region, 2014–2022 (USD Million)
Table 21 Market for Other Technologies for Natural Gas, By Region, 2014–2022 (USD Million)
Table 22 Market for Other Technologies for Oil & Gas, By Region, 2014–2022 (USD Million)
Table 23 Market for Oil & Gas, By Geography, 2014–2022 (USD Million)
Table 24 Market for Natural Gas, By Geography, 2014–2022 (USD Million)
Table 25 North America Market for Oil & Gas, By Country, 2014–2022 (USD Million)
Table 26 North America Leak Detection Market for Natural Gas, By Country, 2014–2022 (USD Million)
Table 27 North America Acoustic/Ultrasonic Leak Detection Market for Oil & Gas, By Country, 2014-2022 (USD Million)
Table 28 North America Market for E-RTTM Technology, By Country, 2014-2022 (USD Million)
Table 29 North America Market for Fiber-Optic Technology, By Country, 2014-2022 (USD Million)
Table 30 North America Market for Mass Volume Balance Technology, By Country, 2014-2022 (USD Million)
Table 31 North America Market for Vapor Sensing Technology for Oil & Gas, By Country, 2014-2022 (USD Million)
Table 32 South & Central America Leak Detection Market for Oil & Gas, By Country, 2014–2022 (USD Million)
Table 33 South & Central America Market for Natural Gas, By Country, 2014–2022 (USD Million)
Table 34 South & Central America Market for Acoustic/Ultrasonic Technology for Oil & Gas, By Country, 2014-2022 (USD Million)
Table 35 South & Central America Leak Detection Market for E-RTTM Technology for Oil & Gas, By Country, 2014-2022 (USD Million)
Table 36 South & Central America Market for Cable Based Technology for Oil & Gas, By Country, 2014-2022 (USD Million)
Table 37 South & Central America Market for Mass Volume Balance Technology for Oil & Gas, By Country, 2014-2022 (USD Million)
Table 38 South & Central America Market for Vapor Sensing Technology, By Country, 2014-2022 (USD Million)
Table 39 Europe Leak Detection Market for Oil & Gas, By Country, 2014–2022 (USD Million)
Table 40 Europe Market for Natural Gas, By Country, 2014–2022 (USD Million)
Table 41 Europe Market for Acoustic/Ultrasonic Technology for Oil & Gas, By Country, 2014-2022 (USD Million)
Table 42 Europe Market for E-RTTM Technology, for Oil & Gas By Country 2014-2022 (USD Million)
Table 43 Europe Market for Cable Based Technology for Oil & Gas, By Country, 2014-2022 (USD Million)
Table 44 Europe Market for Mass Volume Balance Technology for Oil & Gas, By Country, 2014-2022 (USD Million)
Table 45 Europe Market for Vapor Sensing Technology for Oil & Gas, By Country, 2014-2022 (USD Million)
Table 46 Asia-Pacific Leak Detection Market for Oil & Gas, By Country, 2014–2022 (USD Million)
Table 47 APAC Market for Natural Gas, By Country, 2014–2022 (USD Million)
Table 48 Asia-Pacific Market for Acoustic/Ultrasonic Technology for Oil & Gas, By Country, 2014-2022 (USD Million)
Table 49 Asia-Pacific Market for E-RTTM Technology for Oil & Gas, By Country, 2014-2022 (USD Million)
Table 50 Asia-Pacific Market for Cable Based Technology for Oil & Gas, By Country, 2014-2022 (USD Million)
Table 51 Asia-Pacific Market for Mass Volume Balance Technology for Oil & Gas, By Country, 2014-2022 (USD Million)
Table 52 Asia-Pacific Market for Vapor Sensing Technology for Oil & Gas, By Country, 2014-2022 (USD Million)
Table 53 Middle East Leak Detection Market for Oil & Gas, By Country, 2014–2022 (USD Million)
Table 54 Middle East Market for Natural Gas, By Country, 2014–2022 (USD Million)
Table 55 Middle East Acoustic/Ultrasonic Leak Detection Market for Oil & Gas, By Country, 2014-2022 (USD Million)
Table 56 Middle East Market for E-RTTM Technology for Oil & Gas, By Country, 2014-2022 (USD Million)
Table 57 Middle East Market for Cable Based Technology for Oil & Gas, By Country, 2014-2022 (USD Million)
Table 58 Middle East Market for Mass Volume Balance Technology for Oil & Gas, By Country, 2014-2022 (USD Million)
Table 59 Middle East Market for Vapor Sensing Technology for Oil & Gas, By Country, 2014-2022 (USD Million)
Table 60 Africa Leak Detection Market for Oil & Gas, By Country, 2014–2022 (USD Million)
Table 61 Africa Market for Natural Gas, By Country, 2014–2022 (USD Million)
Table 62 Africa Market for Acoustic/Ultrasonic Technology for Oil & Gas, By Country, 2014-2022 (USD Million)
Table 63 Africa Market for E-RTTM Technology for Oil & Gas, By Country, 2014-2022 (USD Million)
Table 64 Africa Market for Cable Based Technology for Oil & Gas, By Country, 2014-2022 (USD Million)
Table 65 Africa Market for Mass-Volume Balance Technology for Oil & Gas, By Country, 2014-2022 (USD Million)
Table 66 Africa Market for Vapor Sensing Technology for Oil & Gas, By Country, 2014-2022 (USD Million)
Table 67 Market Ranking, 2015
Table 68 New Product Launches, 2015–2016
Table 69 Agreements, Partnerships, and Contracts, 2015–2016
Table 70 Mergers & Acquisitions, 2015–2016
Table 71 Expansions, 2015–2016


List of Figures (75 Figures)

Figure 1 Leak Detection Market for Oil & Gas: Process Flow of Market Size Estimation
Figure 2 Leak Detection Market: Research Design
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Data Triangulation
Figure 6 Assumptions of the Research Study
Figure 7 Acoustic/Ultrasonic Technology to Hold the Largest Size of the Leak Detection Market for Oil & Condensate By 2022
Figure 8 Acoustic/Ultrasonic Technology to Hold the Largest Size of the Leak Detection Market for Natural Gas By 2022
Figure 9 Leak Detection Market for Oil & Gas, By Geography, 2016
Figure 10 Leak Detection Market for Oil & Gas: Strategies Adopted By Major Players Between 2015 and 2016
Figure 11 Growth Opportunities for the Leak Detection Market for Oil & Gas Between 2016 and 2022
Figure 12 Market for E-RTTM Technology for Oil & Condensate Expected to Grow at the Highest CAGR During the Forecast Period
Figure 13 Market for Statistical and Real-Time Monitoring Technology for Natural Gas Expected to Grow at the Highest CAGR During the Forecast Period
Figure 14 North America Held the Major Share of the Leak Detection Market for Oil & Condensate in 2015
Figure 15 North America Held the Major Share of the Leak Detection Market for Natural Gas in 2015
Figure 16 U.S. Held the Largest Share of the Leak Detection Market for Oil & Gas in 2015
Figure 17 Stringent Government Regulations Pertaining to the Implementation of Leak Detection Systems Driving the Market Growth
Figure 18 Value Chain Analysis of the Leak Detection Market for Oil & Gas: Major Value Added By Raw Material and Component Providers and Leak Detection System Manufacturers
Figure 19 Porter’s Five Forces Analysis: Leak Detection Market for Oil & Gas (2015)
Figure 20 Porter’s Five Forces Analysis: Leak Detection Market for Oil & Gas
Figure 21 Impact Analysis of Bargaining Power of Suppliers
Figure 22 Impact Analysis of Bargaining Power of Buyers
Figure 23 Impact Analysis of Threat of Substitutes
Figure 24 Impact Analysis of Threat of New Entrants
Figure 25 Impact Analysis of Intensity of Competitive Rivalry
Figure 26 Leak Detection Market Expected to Be Dominated By Natural Gas Segment During Forecast Period
Figure 27 Acoustic/Ultrasonic Technology to Hold the Largest Size of the Leak Detection Market for Oil & Condensate By 2022
Figure 28 Acoustic/Ultrasonic to Hold the Largest Size of the Leak Detection Market for Natural Gas By 2022
Figure 29 North America to Hold the Largest Size of the Market for Acoustic/Ultrasonic Technology for Natural Gas By 2022
Figure 30 North America to Hold the Largest Size of the Market for Acoustic/Ultrasonic Technology for Oil & Gas Between 2016 and 2022
Figure 31 North America to Hold the Largest Size of the Market for Statistical and Real-Time Monitoring Technology for Natural Gas By 2022
Figure 32 North America to Hold the Largest Size of the Market for E-RTTM Technology for Oil & Gas During the Forecast Period
Figure 33 Leak Detection Market for Flow Monitoring Technology for Natural Gas in APAC Expected to Grow at the Highest CAGR During the Forecast Period
Figure 34 North America to Hold the Largest Size of the Market for Mass/Volume Balance Technology for Oil and Gas By 2022
Figure 35 Leak Detection Market for Laser Absorption and Lidar Technology for Natural Gas in APAC to Grow at the Highest CAGR During the Forecast Period
Figure 36 Geographic Snapshot for the Leak Detection Market for Oil & Gas (2016-2022)
Figure 37 Leak Detection Market for Oil & Gas to Be Dominated By North America Throughout the Forecast Period
Figure 38 Leak Detection Market for Natural Gas to Be Dominated By North America Throughout the Forecast Period
Figure 39 North America: Leak Detection Market Snapshot (2016-2022) Demand Expected to Be Driven By the Increase in Oil & Gas Exploration, Production, and Supply
Figure 40 North America Leak Detection Market for Oil & Gas to Be Dominated By the U.S. Throughout the Forecast Period
Figure 41 The U.S. Leak Detection Market for Natural Gas to Grow at the Highest CAGR Between 2016 and 2022
Figure 42 The U.S. Projected to Lead the Oil & Gas Leak Detection Market for Acoustic/Ultrasonic Technology Between 2016 and 2022
Figure 43 Leak Detection Market for E-RTTM Technology to Grow at the Highest CAGR in the U.S. Between 2016 and 2022
Figure 44 Brazil Leak Detection Market for Oil & Gas to Grow at the Highest CAGR Between 2016 and 2022
Figure 45 Brazil Market for Natural Gas to Grow at the Highest CAGR Between 2016 and 2022
Figure 46 Russia to Lead the European Leak Detection Market for Oil & Gas Between 2016 and 2022
Figure 47 Russia to Lead the European Market for Natural Gas Between 2016 and 2022
Figure 48 Russia to Lead the Europe Market for Acoustic/ Ultrasonic Technology Between 2016 and 2022
Figure 49 Russia to Lead the European Market for E-RTTM Technology Between 2016 and 2022
Figure 50 APAC Leak Detection Market Snapshot (2016-2022): Demand Expected to Be Driven By the Increase in Oil & Gas Consumption, Production, and Supply
Figure 51 China to Lead the APAC Market for Oil & Gas Between 2016 and 2022
Figure 52 China to Lead the APAC Market for Natural Gas Between 2016 and 2022
Figure 53 China Expected to Lead the APAC Market for Acoustic/Ultrasonic Technology for Oil & Gas Between 2016 and 2022
Figure 54 China Expected to Lead the APAC Market for E-RTTM Technology for Oil & Gas Between 2016 and 2022
Figure 55 Market for Oil & Gas in Iran to Grow at the Highest CAGR Between 2016 and 2022
Figure 56 Iran Leak Detection Market for Natural Gas to Grow at the Highest CAGR in the Middle East Between 2016 and 2022
Figure 57 Iran Market for Acoustic Technology to Grow at the Highest Rate in the Middle East Between 2016 and 2022
Figure 58 Algeria Leak Detection Market for Oil & Gas to Grow at the Highest Rate in Africa Between 2016 and 2022
Figure 59 Algeria Market for Natural Gas to Grow at the Highest CAGR in Africa Between 2016 and 2022
Figure 60 Organic and Inorganic Strategies Adopted By Companies Operating in the Leak Detection Market for Oil & Gas
Figure 61 Battle for Market Share: Agreement, Partnership, and Contracts Emerged as Key Strategies Between 2015 and 2016
Figure 62 Geographic Revenue Mix of Top Market Players
Figure 63 Honeywell International Inc.: Company Snapshot
Figure 64 Honeywell International Inc.: SWOT Analysis
Figure 65 PSI AG: Company Snapshot
Figure 66 PSI AG: SWOT Analysis
Figure 67 Siemens AG.: Company Snapshot
Figure 68 Siemens AG.: SWOT Analysis
Figure 69 Flir Systems, Inc.: Company Snapshot
Figure 70 Flir Systems, Inc.: SWOT Analysis
Figure 71 Krohne Messtechnik GmbH : SWOT Analysis
Figure 72 Schneider Electric Se : Company Snapshot
Figure 73 Pentair PLC: Company Snapshot
Figure 74 Pure Technologies Ltd.: Company Snapshot
Figure 75 Perma-Pipe, Inc.: Company Snapshot

The leak detection market for oil and gas is expected to be valued at USD 3.38 Billion by 2022, growing at a CAGR of 6.9% between 2016 and 2022. The growth of this market can be attributed to the increasing incidents of leakages in the oil and gas pipelines and storage tanks at production facilities, development and expansion of existing pipelines and construction of new pipelines, and stringent government regulations pertaining to the implementation of leak detection systems.

The acoustic/ultrasonic technology is expected to lead the leak detection market for oil and gas between 2016 and 2022. The acoustic/ultrasonic technology-based leak detection systems are widely used in single-phase and multi-phase flow pipelines, owing to their advantages such as quick leak detection capabilities, suitable for leak detection in large pipelines, and require simplified sensor and software set up with minimal calibration.

The market for statistical and real-time monitoring is expected to grow at a high rate during the forecast period. This market growth can be attributed to the technology’s capacity to detect leak in both steady and transient conditions efficiently. E-RTTM is used to detect small leakages and to estimate the size of the leakages accurately. It is a reliable technology to detect leaks in both onshore and offshore pipelines.

North America accounted for a largest share of the global leak detection market for oil and gas in 2016. The increasing oil and gas production in the U.S. and Canada is boosting the number of pipeline infrastructure projects in North America, thereby driving the growth of the leak detection market for oil and gas in this region. Also, stringent government regulations in the U.S. to implement leak detection systems in oil and gas pipelines are fueling the market growth in North America.

The retrofitting of some leak detection systems, such as fiber-optic leak detection systems, to pipelines is difficult and expensive. This is restraining the growth of the market.

The key strategies adopted by the major players in the market include agreements, partnerships, and contracts. These strategies, collectively, accounted for 46% of the overall strategies adopted by the market players between 2015 and 2016. Companies such as PSI AG (Germany), Siemens AG (Germany), FLIR Systems Inc. (U.S.), KROHNE Group (Germany) have adopted these strategies to grow in the market.

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