Global Natural Gas Leakage Detection Systems Market - 2019-2026
Global Natural Gas leakage detection Systems Market Overview:
The global natural gas leakage detection systems market is gaining momentum with a growing pipeline network and increasing demand for gas reserves. Advancement in technology has facilitated the natural gas pipeline operators and tranportation companies to monitor remotely of pipeline operations. Global natural gas pipeline network is about 3.5 million kilometers which are responsible for the movement of natural gas across the globe.
Pipelines are considered to be the safest and the most efficient mode of transportation of natural gas, as it is highly unsafe in nature with any spillage or leakage that can results in huge loss to the environment and to the person handling the product. Leakage is considered as the most common problem in gas pipeline operations and storage tanks.
Global natural gas leakage detection system market worth was USD XX Billion in 2018 and is estimated to reach USD XX Billion in 2026, at a CAGR of XX% during the forecasted period 2019-2026.
Global Natural Gas leakage detection Market Dynamics
Global natural gas leakage detection system market is anticipated to be driven by factors such as increasing natural gas production, trade of natual gas with its growing demand coupled with expansion of pipeline infrastructure and storage systems.
Pipeline operators realize the importance of using leak detection systems for preventing mass-scale accidents and huge monetary damages. Moreover, growing environmental concerns and increasing oil & gas exploration activities have peaked the demand for gas leak detection systems in the global market. Factors such as the growing concern for occupational safety and health, and safety regulations will also fuel the global gas leakage detection equipment market in the foreseeable future.
However, volatile natural gas prices will likely to hamper furture investments in gas extraction, storage, and transportation activities, which will negatively impact the natural gas leaking detection system market in the coming years.
Global Natural Gas Leakage Detection Systems Market Segmentation
Global natural gas leakage detection systems market is segmented on the basis of product, technology, and application.
On the basis of application it is segmented into transport systems and storage centres/ terminals. Amongst both of the application type, transport systems segment dominates the use of natural gas leakage detection system compared to storage terminals as it is economical and feasible to transport natural gas from one place to other through pipelines instead of transporting through storage tanks that requires huge cost and operating maintenance involved in it.
Based on product type, the global gas leakage detection equipment market is divided into portable gas detection system and fixed gas leakage detection system. The fixed gas leakage detection system segment is a dominant sector in the global gas leakage detection system market in 2018 and held a market revenue share of xx%. The portable gas leakage detection system sector is driven by the rising preference for portable, flexible equipment for gas leak detection, particularly in remote areas.
On the basis of geography, the global gas leakage detection system market is segmented into Latin America, Europe, North America, Asia Pacific, and the Middle East and Africa (MEA). North America and Europe were the two largest contributors for global gas leakage detection system market in 2018. On the other hand, regions such as the Middle East, Asia Pacific, and Latin America are projected to witness robust growth in the coming few years due to rapid industrialization and surging energy demand.
North America is the largest market region and had accounted for the highest market revenue share in 2018. The key factor driving the growth of natural gas leakage detection systems market in North America is the increasing natual gas production in the United States and Canada which has led to the increment in the number of pipeline projects infrastructure in North America. Further strict government regulation in the United States for the implementation of leak detection systems in the natural gas pipelines and storage terminals is boosting the market growth in North America.
The Middle East and Africa regions are expected to emerge as the fastest growing market during the forecast period 2019-2026. The key factor driving the market growth is due to a large number of companies and lucrative natual gas market and vast network of natural gas pipeline network and storage terminals.
Global Natural Gas Leakage Detection Systems-Competitive Landscape
The global natural gas leakage detection systems market is highly competitive and fragmented. Some of the key companies operating in the global natural gas leakage detection systems are AmeriSpec, Honeywell International Inc, Psi Ag, Synodon Inc, Sensit Technologies, Clampon Inc, Atmos International, Flir Systems, Grainger and Anacon. Players in the global natural gas leakage detection systems market will benefit from the rising demand for the city gas distribution and increasing use of natural gas in the power generation and transportation sector. Most of the pipeline companies are increasingly focusing on complying with global safety guidelines and government regulations in sustain hazardous nature of crude oil and natural gasand improve operational safety.
One of the prominent players, Honeywell International is enhancing the market by undergoing new ventures and collaboration. For Instance, In January 2019, Honeywell International signed an MOU with the Amity University for the transfer of technology of “Low Powered mobile LPG sensor with alarm alert system “developed by Amity University Scientists.
Why Purchase the Report?
• The report includes market estimation, forecast, and analysis of Global natural gas leakage detection system market for the year 2019-2026.
• The report includes a detailed analysis of different segments such as product type, technology type (natural gas) and applications of natural gas leakage detection system.
• Identify and understand the strength, opportunities, challenges, and threat of the natural gas leak detection system market.
• Covers details analysis of Porters 5 force model and other strategic models and also covers revenues, market share analysis, and competitive landscape analysis of major players of natural gas leak detection system market.
• Detailed analysis of various regulatory policies which are affecting the global natural gas leakage detection system market.
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