The global pipeline safety market size is expected to grow from USD 7.9 billion in 2020 to USD 12.2 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 9.2% during the forecast period. The major driving factors in the pipeline safety industry are improved spending by most oil & gas companies for pipeline infrastructure, network monitoring, leak detection, and a rise in the number of oil & gas leakage incidence/accidents.
The major pipeline safety vendors include ABB (Switzerland), Siemens AG (Germany), Schneider Electric (France), Baker Hughes (US), Honeywell (US), Huawei Technologies (China), AVEVA (UK), PSI AG (Germany), BAE Systems (UK), TransCanada (Canada), Atmos International (UK), Clampon AS (Norway), FFT (Australia), Perma-Pipe (US), Senstar (Canada), Syrinix (UK), RADIOBARRIER (Russia), Pure Technologies (Canada), C-Fer Technologies (Canada), Total Safety (US), Krohne Group (Germany), PLM CAT (US), Leater (Ukraine), and TTK (France). These players have adopted various growth strategies, such as partnerships, agreements & collaborations, and new product launches, to further expand their presence in the global pipeline safety market. Partnerships and new product launches have been the most dominating strategy adopted by the major players from 2018 to 2020, which has helped them innovate on their offerings and broaden their customer base.
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ABB was incorporated in 1988 with the merger of Asea AB and BBC Brown Boveri AG. The company is headquartered in Zurich, Switzerland. It deals through four vertically integrated businesses: Electrification, Industrial Automation, Motion, and Robotics and Discrete Automation for its industrial customers, globally. The company announced the sale of its Power Grids business in December 2018 and will be divested to Hitachi in 2020. It is a public listed company listed on SIX Swiss Exchange under the ticker symbol of ABBN and ABB in NASDAQ. ABB offers its services to diverse verticals, including automotive, food and beverages, chemical, marine, oil and gas, power, and building and infrastructure. The company has a presence in more than 100 countries and generates financial revenue from the Americas, Europe, APAC, and MEA. In the pipeline safety market, ABB offers various solutions, which include Offshore and Onshore solutions; Midstream and Transportation solutions; ABB Ability Platform; and Oil, gas, and petrochemical operations management software to ensure communication technology keeps pace with the changing needs of the industry and implement innovative solutions for increased efficiency in the future.
Siemens AG was incorporated in 1847 and is headquartered in Munich, Germany. It is a technology company, which has core activities that include electrification, automation, and digitalization. The company provides products and solutions to various verticals: aerospace, automotive, battery manufacturing, chemical industry, cement, cranes, data centers, distributors, fiber industry, food and beverages, glass, machinery and plant construction, marine, mining, municipalities & Distribution System Operators (DSOs), oil & gas, panel building, pharmaceutical industry, power utilities, tire industry, transportation and logistics, and water industry. It is a public listed company listed in Xetra under the ticker symbol of SIE. Siemens AG has various segments consisting of the three Operating Companies: Digital Industries, Smart Infrastructure, and Gas & Power; and three Strategic Companies: Mobility, Siemens Healthineers, and Siemens Gamesa, Renewable Energy. These six businesses are collectively known as Industrial Businesses. The company has a presence in more than 200 countries with a geographic presence in North America, Europe, APAC, MEA, and Latin America. Siemens offers pipeline safety solutions for upstream, midstream, and downstream applications. The company provides solutions that can stand with the challenges of the oil industrys harsh environmental conditions. Solutions include Pipelines 4.0, SmartPump for oil pipelines, and Siemens Topsides 4.0 digital life cycle solution.
Pipeline Safety Market by Component (Solutions (Pipeline Monitoring System, Secure Communication, Perimeter Intrusion Detection, SCADA for Pipelines, and ICS Security) and Services), Application, Vertical, and Region - Global Forecast to 2025
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