The Business Research Company’s Pipeline Safety Global Market Report 2021: COVID-19 Growth And Change
LONDON, GREATER LONDON , UK, July 21, 2021 /EINPresswire.com/ — The increase in demand for oil and gas leads to the development of pipeline infrastructure, which eventually drives the growth of the pipeline safety market. For instance, in January 2021, the Government of India announced the plan to spend $60 billion for establishing gas infrastructures such as pipelines, liquefied natural gas terminals, and city gas distribution networks. In 2020, the United States imported around 7.86 MMb/d of petroleum, which included 5.88 MMb/d of crude oil and 1.98 MMb/d of noncrude petroleum liquids and refined petroleum products. The rise in the usage of piped gas lines contributes to the demand for the pipeline safety market.
The global pipeline safety market size is expected to grow from $7.02 billion in 2020 to $7.75 billion in 2021 at a compound annual growth rate (CAGR) of 10.37%. The growth in the pipeline safety market is mainly due to the network monitoring, increased spending for pipeline infrastructure by oil and gas companies, growing concerns over pipeline security, demand for leak detection, and the increase in the oil and gas leakage incidence/accidents. The market is expected to reach $11.62 billion in 2025 at a CAGR of 10.67%.
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North America is the largest region in the pipeline safety market in 2020. Asia-Pacific is expected to grow faster in the forecast period. The regions covered in the pipeline safety market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Major players in the pipeline safety market are BAE Systems, Siemens AG, Schneider Electric SE, Honeywell International Inc., General Electric, ABB Group, Huawei Technologies Co. Ltd., AVEVA, Senstar, Perma-Pipe, Future Fiber Technologies, Leater, Total Safety, TTK, Rockwell Automation Inc, Cisco Systems, HCL Technologies, and ESRI Inc.
The global pipeline safety market is segmented
1) By Component: Solutions, Services
2) By End User: Natural Gas, Crude Oil, Refined Products, Others
3) By Application: Onshore, Offshore.
Pipeline Safety Global Market Report 2021: COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provides pipeline safety global market overview, forecast pipeline safety global market size and growth for the whole market, pipeline safety global market segments, and geographies, pipeline safety global market trends, pipeline safety global market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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