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|NDT.net Issue - 2015-12 - NEWS ||NDT.net Issue: 2015-12|
Publication: e-Journal of Nondestructive Testing (NDT) ISSN 1435-4934 (NDT.net Journal)
Leak Detection Market for Oil & Gas worth 2.71 Billion USD by 2020MarketsandMarkets18, Pune, MH, India
According to the new market research report "Leak Detection Market for Oil & Gas by Technology (Negative Pressure Wave, E-RTTM, Fiber Optic Cables, Vpor Sensing Tubes, Mass-Volume Balance Method, and Others), by Type (Upstream, Midstream and Downstream) and Region (America, Europe, Middle East and Africa) - Global Forecast to 2020", the leak detection market is expected to reach USD 2.71 Billion by 2020 at an estimated CAGR of 7.1% from 2015 to 2020, which includes an in-depth analysis of the market by type, technology, application, and geography.
The leak detection system for oil & gas detects and locate the exact location of the leakage. The main purpose of the leak detection system is to assist the pipeline operators and monitors in detecting and localizing the leakage.
In oil & gas industry the leak detection system is used for detecting the leakages during the process of exploration of crude oil & natural gas during the supply of oil & gas through pipeline network, and during refinement. This helps the oil & gas companies to avoid the heavy losses caused due to the leakages and also helps the companies to follow the regulations provided by the government for safety of environmental concerns.
The major challenges associated with leak detection system are that a leak detector should be able to perform identification, localization, quantification, and classification (medium, harmful/harmless) of a leakage.
As per the study, no technology alone can perform all of these operations and it may be hard to accomplish by combining sensors. Moreover, another challenge for the leak detection system is to handle the unwanted warnings often generated due to the natural seepage of hydrocarbons from the seabed. Future trend for leak detection system for oil & gas includes to improve the performance of leak detection systems beneficial to overcome the above mentioned challenges.
This report describes market trends, drivers, and challenges with respect to the global leak detection market for oil & gas, and forecasts the market size between 2015 and 2020, segmented on the basis of type, technology, application, and geography. This global report provides a detailed view of the market across regions, namely, North America (the U.S., Canada, and Mexico), Europe (Russia, Germany, the U.K., Others), Asia-Pacific (Japan, China, India, South Korea, Rest of APAC), and RoW (Middle East & Africa, Latin America).
Major players in the global leak detection market for oil & gas include Honeywell International Inc. (U.S.), PSI AG (Germany), Pentair Ltd (U.K.), Pure Technologies Ltd. (Canada), Siemens AG (Germany), Perma-Pipe, Inc. (U.S.) , Krohne Group (Germany), Schneider Electric (France), ATMOS International (U.K.), TTK (U.K.), and ClampOn AS (Norway).