The Pipeline Monitoring System (PMS) industry is a sector that focuses on the development and implementation of advanced technologies and solutions to monitor and manage pipelines. These systems are used to detect and locate leaks, identify pressure drops, and monitor the overall health of pipelines to ensure safe and efficient operation.
The global pipeline monitoring system market size is projected to grow from USD 13.2 billion in 2021 to USD 19.2 billion by 2026, at a CAGR of 7.8% from 2021 to 2026. The scope of the PMS industry includes a wide range of applications, such as oil and gas pipelines, water and wastewater pipelines, and chemical pipelines. PMS technologies and solutions can be used for both onshore and offshore pipelines, and they play a critical role in maintaining the integrity of these pipelines, reducing environmental impact, and ensuring the safety of people and infrastructure. The scope of the PMS industry is expected to continue expanding as the demand for pipeline infrastructure continues to grow, and new technologies and solutions are developed to meet the evolving needs of the industry.
One device that is able to monitor and maintain a pipeline from within is known as a Pipeline Inspection Gauge or PIG. A PIG is a device that is inserted into a pipeline and is propelled by the flow of the product being transported through the pipeline.
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PIGs are designed to collect data on the condition of the pipeline, including its integrity, corrosion levels, and any other potential issues. They can also be used to clean and maintain the pipeline by removing debris or deposits that may have accumulated inside the pipeline.
There are different types of PIGs, including smart PIGs that are equipped with sensors and advanced technology such as cameras and GPS, which enable them to provide real-time data and track their location within the pipeline. PIGs are an important tool in the Pipeline Monitoring System (PMS) industry and are used to ensure safe and efficient operation of pipelines.
“In terms of value, the metallic pipes segment in Pipeline Monitoring System Market”
The metallic pipes segment in the Pipeline Monitoring System (PMS) market holds significant value due to the widespread use of metallic pipelines in various industries such as oil and gas, water and wastewater, and chemicals.
Metallic pipelines are preferred for their high strength and durability, making them suitable for use in harsh environments and for transporting hazardous materials. As a result, the demand for monitoring and maintenance of metallic pipelines has increased, driving the growth of the PMS market.
In addition, the aging infrastructure of existing metallic pipelines in many regions around the world has also contributed to the growth of the market, as the need for monitoring and maintenance of these pipelines has become more critical.
“In terms of value, the metallic pipes segment in Pipeline Monitoring System Market”
The metallic pipes segment in the Pipeline Monitoring System (PMS) market holds significant value due to the widespread use of metallic pipelines in various industries such as oil and gas, water and wastewater, and chemicals.
Metallic pipelines are preferred for their high strength and durability, making them suitable for use in harsh environments and for transporting hazardous materials. As a result, the demand for monitoring and maintenance of metallic pipelines has increased, driving the growth of the PMS market.
“In terms of value, leak detection is estimated to be the fastest-growing segment”
In terms of value, leak detection is estimated to be the fastest-growing segment in the Pipeline Monitoring System (PMS) market. Leak detection systems are designed to quickly and accurately detect leaks in pipelines, allowing operators to take immediate action to minimize environmental impact, prevent accidents, and avoid costly downtime. As a result, the demand for leak detection systems has increased significantly in recent years, driving the growth of the segment.
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Factors contributing to the growth of the leak detection segment include the increasing concern for environmental protection, regulations mandating the use of leak detection systems, and advancements in technology that have made leak detection systems more accurate and efficient.
“The APAC region is projected to be the fastest-growing region in the pipeline monitoring system market”
The Asia-Pacific (APAC) region is projected to be the fastest-growing region in the Pipeline Monitoring System (PMS) market.
The APAC region is expected to witness significant growth in the PMS market due to the rapid industrialization and urbanization in countries such as China, India, Japan, and South Korea. The increasing demand for energy and water infrastructure in these countries is driving the demand for pipelines and, consequently, the need for PMS solutions to monitor and maintain these pipelines.
Furthermore, the increasing adoption of advanced technologies such as Internet of Things (IoT) and big data analytics in the region is expected to drive the growth of the PMS market in APAC. These technologies are used in PMS solutions to provide real-time data and analytics, enabling operators to monitor and manage pipelines more efficiently and effectively.
Pipeline Monitoring System Market Trending Key Players
The pipeline monitoring system market has thousands of companies that thrive in their domestic market. A few of the major players are, Siemens AG (US), Honeywell International Inc. (US), Huawei Technologies Co. Ltd. (China), BAE Systems (UK), and TransCanada PipeLines Limited (Canada), among others.
Siemens AG is a leading engineering and manufacturing company in Europe operating in the principal divisions of Digital Industries, Smart Infrastructure, Mobility and Siemens Healthineers, which together form the Industrial Businesses and Siemens Financial Services (SFS).
Honeywell International Inc. is a diversified technology and manufacturing company. It operates through four business segments, namely, Aerospace (previously known as Transportation, Automation and Control Solutions (ACS)), Performance Materials and Technologies (PMT), Honeywell Building Technologies, and Safety & Productivity Solutions.
