The North America Pipeline Monitoring System Market would witness market growth of 7.0% CAGR during the forecast period (2021-2027).
Pipeline monitoring systems are used to assess bacteriological and corrosion control programs, provide online chemical treatment program analysis, collect samples without generating toxic waste, collect data for pipeline risk evaluation and integrity monitoring, and meet regulatory monitoring requirements. These monitoring systems can be placed both offshore and onshore, on existing or newlines. The pipeline monitoring system market is primarily pushed by a rise in the number of oil and gas leakage incidents/accidents, as well as increased pipeline safety and monitoring maintenance and regulatory regulations.
In addition, increased pipeline monitoring demand as a result of increased pipeline infrastructure will create new prospects for the pipeline monitoring system market. In addition, industry players are launching a slew of strategic initiatives to bolster their presence in the market, which bodes well for the market's future growth.
The Department of Environment and Natural Resources (ENR) is in charge of making regulatory decisions about water use as well as management in the NWT, including law and policy creation, execution, and interpretation. To effectively manage water resources, accurate data on water quality and quantity is required. The GNWT collects data on water quality and quantity in the NWT in collaboration with Environment & Climate Change Canada and other federal and territory departments. For a significant share of Canada's population, groundwater is their only source of water. The amount of Canadians who utilize groundwater for domestic purposes has risen dramatically over the last two decades and is anticipated to continue to rise. Groundwater is essential in Canada for a variety of reasons, including its major contribution to the flow of most streams and rivers, its influence on the quality of lake water, and its role in the maintenance of wetlands.
The US market dominated the North America Pipeline Monitoring System Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $4,818.9 million by 2027. The Canada market is anticipated to grow at a CAGR of 9.5% during (2021 - 2027). Additionally, The Mexico market would exhibit a CAGR of 8.5% during (2021 - 2027).
Based on Technology, the market is segmented into Ultrasonic, PIGs, Smart Ball, Magnetic Flux Leakage, Fiber Optic Technology, and Others. Based on Solution, the market is segmented into Leak Detection, Pipeline Break Detection, Operating Condition, and Others. Based on Pipe Type, the market is segmented into Metallic & Non-Metallic. Based on End-use, the market is segmented into Crude & Refined Petroleum, Water & Wastewater, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Pipeline Monitoring System Market is Estimated to reach $19.9 Billion by 2027, at a CAGR of 7.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Huawei Technologies Co., Ltd., Siemens AG, Thales Group S.A., Pentair PLC, Orbcomm, Inc., BAE Systems PLC, ABB Group, Honeywell International, Inc., PSI Software AG, and Perma-Pipe International Holdings, Inc.
By Technology
By Solution
By Pipe Type
By End Use
By Country
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