Pipeline Network Market Growing at a CAGR 7.6% | Key Player Siemens, Cisco Systems, Hitachi, PSI Software, Honeywell

Pipeline Network Market Growing at a CAGR 7.6% | Key Player Siemens, Cisco Systems, Hitachi, PSI Software, Honeywell

“Huawei (China), ABB (Switzerland), Siemens (Germany), Hitachi (Japan), Schneider Electric (France), PSI Software (Germany), Honeywell (US), GE (US), Wipro (India), Emerson (US), Cisco Systems (US), Rockwell Automation (US), Moxa (Taiwan), ORBCOMM (US), OptaSense (UK), Pure Technologies (Canada), Necon Group (Qatar), Sensornet (UK)”
Pipeline Network Market by Offering (Solution and Services), Application (Pipeline Monitoring and Pipeline Operation Optimization), Content, End-User Industry (Crude & Refined Petroleum, Water & Wastewater), and Region – Global Forecast to 2024

MarketsandMarkets projects the Pipeline Network Market to grow from USD 8.5 billion in 2019 to USD 12.3 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 7.6% during the forecast period. Major factors expected to drive the growth of the pipeline network market include the rising demand for oil and gas from developing countries, growing demand for commercial off-the-shelf technology, rising big data and analytics trends, and need for maintaining Quality of Experience (QoE) and Quality of Service (QoS) of pipeline transportation.

By solution, the operation management and control segment to hold the largest market size during the forecast period

Operation management and control solutions remotely monitor pipeline operations and their performance. These solutions follow government regulations and compliance requirements related to the pipeline infrastructure and are integrated with advanced Information and Communications Technology (ICT) technologies to gain real-time control on ongoing pipeline operations. The growing demand for a transparent, real-time view of a complex pipeline operations for effective pipeline transportation is one of the major factors driving the demand for operation management and control solutions in the Pipeline network market.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=93915262

By pipeline monitoring application, the leak detection segment to hold the largest market size during the forecast period

Pipeline leak detection is one of the major pipeline monitoring applications and is required to inspect cracks, leaks, and holes in the walls of the pipeline infrastructure. Incidents of liquid or gas spill are increasing day-by-day and a huge amount of liquid or gas can be released in the surrounding environment, which is hazardous to animals that live in the vicinity of the accident location. Liquid and gas companies look forward to avoid financial and human losses, due to pipeline leakage accidents; thereby, these companies adopt pipeline leakage management solutions. A growing need to avoid the loss of a significant amount of crude oil and gas due to pipeline leakage is a major growth factor for this segment.

By crude and refined petroleum end-user industry, the natural gas segment to account for the highest market share in 2019

Climate change and a demand for low carbon fuels aids the demand for natural gas across all sectors, especially power generation. An extremely extensive and elaborate transportation system is required for natural gas to be moved from the production end to the consumption end. Transportation systems consist of a complex network of pipelines designed to quickly and efficiently transport natural gas from its origin to areas of high natural gas demand. Hence, the growing demand for natural gas consumption for power generation to drive the demand for pipeline network management solutions in the natural gas end-user industry.

Key and emerging market players include Huawei (China), ABB (Switzerland), Siemens (Germany), Hitachi (Japan), Schneider Electric (France), PSI Software (Germany), Honeywell (US), GE (US), Wipro (India), Emerson (US), Cisco Systems (US), Rockwell Automation (US), Moxa (Taiwan), ORBCOMM (US), OptaSense (UK), Pure Technologies (Canada), Necon Group (Qatar), Sensornet (UK), Open Access Technology International (US), and KROHNE Group (Germany). These players have adopted various strategies such as new product launches and product enhancements; expansions; mergers and acquisitions; and partnerships, agreements, and collaborations, to grow in the pipeline network market.

According to the International Energy Agency (IEA), non-Organization for Economic Cooperation and Development (OECD) countries represent the highest share of world oil demand since 2012, which contributed approximately 52% in 2018. This increasing demand for oil and gas to fuel the industrial and electric power sectors has led to the growing need for the utilization of pipelines to their maximum capacity. Hence, a rise in the demand for oil and gas from developing economies across the globe has supported the growth of the pipeline network market. A rising adoption of cloud, big data, and analytics for gaining real-time capabilities of pipeline operations is driving the adoption of pipeline network management solutions across the globe. Moreover, the need to maintain QoE and QoS of pipeline transportation is another driving factor of the market. However, political instability, specifically in the Middle East and North Africa, acts as a restraining factor for the growth of the market.

Huawei (China) is a prominent player in the pipeline network market as it offers a digital pipeline solution. This solution provides complete and reliable coverage and an integrated communication platform. The solution comprises an intelligent security platform for oil and gas pipelines and for sites deployed along the pipelines. Oil and gas companies can keep track of their daily pipeline operations and enhance pipeline security through automated warnings and provide rapid responses to incidents with the help of this solution. The digital pipeline solution consists of an infrastructure network, convergence communication, and integrated security. It helps overcome operation and maintenance difficulties. The solution can work with a Supervisory Control and Data Acquisition (SCADA) system, which helps companies know the pipeline operating status in real time for ease of risk response and improved efficiency. Huawei has clients all over the world, with a majority from the energy sector, such as oil and gas companies. Moreover, the company has a geographic presence in China, Europe, Middle East and Africa (MEA) and Asia Pacific (APAC), with 188,000 employees as of 2018.

Speak to Our Expert Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=93915262

ABB (Switzerland) is one of the key players in the pipeline network market and provides a comprehensive range of solutions. The company is a technology leader serving markets, such as utilities, industry, and transport and infrastructure. ABB’s major operations consist of 3 business segments, namely, electrification products, industrial automation, and robotics and motion. The company specializes in mastering the control loop and transforming client operations through actionable insights that optimize performance in real time with the help of the ABB Ability solution. This solution enhances performance, improves reliability and efficiency, and minimizes the overall environmental impact from the start and throughout the entire life cycle of the project. It offers control systems for concentrated installation and distributed network for pipeline transport applications. Moreover, the company provides an automation platform that consists of asset management and Safety Instrumented System (SIS) capabilities, Manufacturing Execution Systems (MES) reporting, full audit trail facilities to track operator actions and changes, and Overall Equipment Effectiveness (OEE) calculation tools. These help in the analysis of production performance. The company has approximately 25,700 employees serving in the industrial automation division.

Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/pipeline-network-market-93915262.html