Leak Detection Market

PSI AG is One of the Major Players in the Leak Detection Market

Leak detection is the process of detecting leaks in the pipelines and assisting the pipeline monitors (concerned persons) to identify the leakages. Leak detection systems raise an alarm if there is a leak in the pipeline and display the related information to the pipeline monitors, enabling them to make decisions. These systems also help in enhancing productivity and system reliability, thereby reducing downtime and inspection time. The leak detection market for oil and gas was valued at 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 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 key strategies adopted by the major players in the leak detection market for oil and gas include agreements, partnerships, and contracts, among others. These strategies, collectively, accounted for a share of 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.

Honeywell International Inc. (U.S.) is one of the leading players in the leak detection market for oil and gas..The company has managed to present strong competition in the market and surpass other competitors as the market leader in the past couple of years. Honeywell offers a broad array of leak detection products worldwide. It provides leak detection and condition monitoring solutions for pipelines and sites. Honeywell offers various technologies to monitor situational parameters and integrate the information for operations pertaining to both small and large pipelines. Honeywell is a well-established player in the oil and gas industry. It has an extensive range of offerings, ranging from integrated control and safety systems, SCADA and RTU platforms, security and telecommunications, and advanced software to validate measurements and operate, simulate, and optimize one’s assets to a complete family of standalone pressure regulators, flow control valves, and metering and safety devices. The company’s product OptaSense provides cost-effective, round-the-clock security leak detection, and condition monitoring of assets such as pipelines and site perimeters using standard telecommunications fiber-optic cables. Honeywell offers this solution in partnership with QinetiQ to help users detect, classify, and locate threats before they come within the damaging range .

PSI AG is one of the major players in leak detection market for oil & gas. PSI AG is engaged in the development and integration of software solutions and control systems for the network infrastructure and complex production and logistics processes. In the energy management segment, the company develops control systems for electricity grids, cross-sector control systems, gas and pipeline management systems, and solutions for virtual power plants, energy trading, and energy distribution.

PSIpipelines is a field-proven suite of operational applications, which are used to quickly identify critical situations, to track what is happening throughout a pipeline, to check certain conditions before execution, to maintain the integrity of pipelines, and to allow operators to react instantly to all conditions. PSI provides integrated leak detection solutions for upstream and downstream oil and gas pipelines through advanced hardware, along with the PSIpipelines software platform. In combination with statistical analysis, PSIpipelines leak detection system provides model-based methods such as model compensated mass balance, transient model, pressure-temperature method, and gradient evaluation. The company also offers negative pressure wave analysis and Pattern recognition technologies for leak detection.

The other companies operating in the leak detection market for oil and gas include Siemens AG (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.).

Related 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

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