Leak Detection Market

Market Leadership - Leak Detection Market

The leak detection market for oil & gas  is valued at USD 2.1 billion in 2020 and is projected to reach USD 3.0 billion by 2025; it is expected to grow at a CAGR of 7.8% from 2020 to 2025. The increasing global oil and natural gas consumption and ongoing technological advancements in leak detection systems to create significant opportunities for the leak detection market for oil & gas .

Honeywell International Inc. (US), Emerson Electric Co. (US), ABB (Switzerland), KROHNE Group (Germany), PSI Software AG (Germany), Atmos (UK), AVEVA (UK), FLIR Systems Inc. (US), HIMA (Germany), Yokogawa Electric Corporation (Japan), Asel-Tech (Brazil), Bridger Photonics (US), Flyscan Systems Inc. (Canada), Fotech Group Ltd. (UK), Hawk Measurement Systems (Australia), MAGNUM (Germany), MSA Safety (US), OptaSense Ltd. (UK), Simulation Software Ltd. (UK), and TTK (France) are some of the key players operating in the leak detection market for oil & gas.

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Honeywell offers efficient products and solutions for businesses, specialty chemicals, electronic and advanced materials, process technology for refining and petrochemicals, productivity, sensing, safety, and security technologies for buildings and industries. It focuses on emerging technological trends and R&D to maximize growth. It has an extensive array of offerings, ranging from integrated control and safety systems, SCADA and RTU platforms, security and telecommunications, and advanced software to a complete family of standalone pressure regulators, flow control valves, and metering and safety devices. Honeywell’s core offering in the leak detection market for oil & gas is the Experion Process Knowledge System (PKS), which includes a world-class SCADA system that drives critical information to the end user’s pipeline operations team while automating data logging and processing. This provides multiple benefits, including reduced project risk and operational complexity; lower maintenance and operating costs; increased operator effectiveness; and safer, more secure operations. The company has a strong brand image in the leak detection market for oil & gas. Honeywell has installed about 20,000,000 gas regulators on the field, more than 500,000 flowmeters, and over 1,000 gas metering skids in city gas stations. About 150,000 kilometers of pipelines worldwide are monitored using Honeywell’s solutions; and more than 500,000 of the company’s electronic correctors have been installed in North America. To further broaden its product portfolio, the company has adopted strategies such as acquisitions and product launches. For instance, in December 2019, Honeywell acquired Rebellion Photonics (US), a provider of innovative intelligent, visual gas monitoring solutions. The company became a part of Honeywell’s Safety and Productivity Solutions business, which provides a wide range of gas detection technologies, safety gear, mobility solutions, and software to help workers stay safe and productive. Rebellion’s technology is also being deployed through Honeywell’s Performance Materials and Technologies business to help process manufacturing customers improve safety and compliance.

Emerson offers pipeline integrity & leak detection solutions for the oil and gas industry. Emerson’s suite of pipeline management solutions helps users safely detect, control, and manage leaks and other critical events to ensure continued and efficient operation of pipelines. Emerson offers cutting edge technologies to provide accurate flow rate measurement and optimized computational pipeline monitoring to ensure pipeline reliability and maximize return on leak detection investment. The company offers PipelineManager, one of the leading solutions for real-time pipeline monitoring for liquids and gas pipelines. The PipelineManager offers multiple leak detection technologies to find anything from pinhole leaks to ruptures. It also provides an offline tool that documents the actual performance of the leak detection system in terms of reliability, sensitivity, and accuracy for all flowing conditions. The company follows the strategies of mergers and acquisitions. On December 1, 2017, the company acquired Paradigm (US), a provider of software solutions for the oil and gas industry, for USD 505 million. Paradigm joined with Emerson’s existing Roxar software business, creates a best-in-class, end-to-end Exploration & Production (E&P) software portfolio. Paradigm’s technology offerings enable Emerson to better help oil and gas operators increase efficiency, reduce costs, and improve return on investment. Emerson also provides solutions that support a global shift to cleaner energy sources. The company plays an important role in the global transition to liquefied natural gas (LNG) as an alternative to traditional hydrocarbons. Emerson has a robust solutions portfolio, including control systems and software, advanced sensor technologies, and the industry’s most comprehensive valves offerings to enable new liquefaction and regasification facilities that will support the maturing global LNG trade in the coming years. The aforesaid is expected to provide new opportunities for the natural gas leak detection market for oil & gas.

Related Reports:

Leak Detection Market for Oil & Gas with COVID-19 Impact by Technology (Acoustic, E-RTTM, Fiber Optic, Mass/Volume Balance, Laser Absorption and LiDAR, Thermal Imaging), Medium (Oil and Condensate, Natural Gas), and Region - Global Forecast to 2025

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Report Code
SE 3855
RI Published ON
12/10/2020
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