How is the Global Pipeline Security Market Projected to Witness Growth in the Future?

The cost effective transportation of crude oil and natural gas via pipeline as compared to rail transportation is the significant factor estimated to foster the growth of the global pipeline security market over the forecast period from 2019 to 2026. In addition, the rapid growth in demand for crude oil is projected to have a progressive impact on the global market by 2026. Moreover, the increasing demand for oil & gas from the developed as well as developing countries across the globe is projected to create lucrative growth opportunities for the global pipeline security market in the upcoming years. Besides, the key players of the industry are heavily investing on developing Internet of Things (IoT) based tool in order to detect any kind of the leakages in the pipeline, which is anticipated to propel the global market growth.

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On the other hand, the development of pipelines can cause disturbance or inconvenience to agricultural landowners that have productive farmlands whose animals, field crops, seepage tiles, and others, might be adversely affected during the installation of pipelines. This factor is predicted to restrict the market growth in the estimated timeframe.

Regional Outlook

The North America region is anticipated to account for the largest share in the global pipeline security market during the forecast period. This can be attributed to the increasing number of end-use industries and the rising demand for natural gas in the region, which is projected to increase the development in the pipeline setup. According to a study, the demand for natural gas in the North America region is estimated to increase by 36% from 2016 to 2040.

On the other hand, the Asia Pacific pipeline security market is anticipated to observe a notable growth over the forecast period. The growth is mainly owing to the rapid growth in the demand of water, natural gas, and crude oil from the developing countries of the region.

Major Market Players

Research Dive has listed some of the key players in the report that are operating in the global pipeline security market. These players include Honeywell International Inc., ABB Ltd., General Electric Company, Rockwell Automation, Inc., OptaSense, Siemens AG, Silixa Ltd., Future Fibre Technologies, Senstar Corporation, and Modcon Systems LTD. These players are implementing numerous strategies such as strategic collaborations, partnerships, technological advancements, and others to gain a competitive edge in the global industry.

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