The factors that drive the global pipeline monitoring systems industry include growth in leakages in oil & gas industry, government regulations for safety and monitoring, and the need to prevent large storage tanks. In addition, investments made by governments in pipeline infrastructure are expected to boost the pipeline monitoring systems market growth. However, political instability is expected to hamper the pipeline monitoring systems market growth.
The rise in concerns about pipeline security has led to increased expenditure for reliable and authentic monitoring networks by oil & gas companies. Moreover, enhanced adoption of pipelines globally is expected to result in increase in market size by 2022.
The global pipeline monitoring systems market is segmented on the basis of pipe, technology, end user, and geography. Based on pipe, it is divided into metallic pipe and non-metallic pipe. By technology, it is classified into ultrasonic, smart ball, magnetic flux leakage technology, pipeline inspection gauges (PIGs), and others. Based on end user, it is categorized into petroleum, water & wastewater, and others.