The report 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. Improved spending by most oil and gas companies for pipeline infrastructure, network monitoring, and leak detection and rise in the number of oil and gas leakage incidence/accidents driving the adoption of pipeline safety market.
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Need to understand the customer needs for tailor-made pipeline safety solutions to drive the growth of pipeline safety services during the forecast period
The demand for pipeline safety services is driven by the growing need for improved pipeline operations performance about pipeline operation scheduling and reduced operational cost of liquid/gas delivery across the globe. The success of pipeline safety depends on how well pipeline solutions are implemented and used to handle its operations. Pipeline safety service providers ensure the pipeline management strategy is tailored as per the organizations specific business objectives to leverage the benefits of pipeline safety solutions fully. With the increasing adoption of solutions, the demand for associated services is also growing among end-users. The benefits gained by the effective utilization of pipeline safety solutions and offering tailor-made solutions as per the needs of organizations are the major factors driving the demand for services associated with pipeline safety solutions.
Rising demand to monitor proper pipeline functioning and avoid disturbance in operating conditions to drive the growth of the pipeline monitoring systems segment to hold a larger market size
Pipeline monitoring is required to detect small pipeline leaks faster and more reliably while simultaneously monitoring third-party interferences and other external pipeline threats to prevent leaks altogether. Pipeline monitoring improves control over pipeline network assets. It automates the process to improve productivity, enabling readers to monitor their assets current condition and raise the alarm in case of unauthorized events. Pipeline monitoring further offers various detector applications to monitor leaks and events of third-party interference, geohazards, thefts, critical infrastructure, and inline inspection tools in real-time from a single operating system.