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GCC Oil and Gas Pipeline Leak Detection System Market - By Location (Onshore, Offshore); By Technology (Acoustic Sensors, Flowmeters, Cable Sensors, Vapor Sensors, and Others); By Country (Saudi Arabia, UAE, Qatar, Bahrain, Kuwait, and Oman), Trend Analysis, Competitive Landscape & Forecast, 2019-2029

GCC Oil and Gas Pipeline Leak Detection System Market -...

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GCC Oil and Gas Pipeline Leak Detection System Market - By Location (Onshore, Offshore); By Technology (Acoustic Sensors, Flowmeters, Cable Sensors, Vapor Sensors, and Others); By Country (Saudi Arabia, UAE, Qatar, Bahrain, Kuwait, and Oman), Trend Analysis, Competitive Landscape & Forecast, 2019-2029
GCC Oil and Gas Pipeline...
Report Code
RO6/142/1011

Publish Date
22/Aug/2024

Pages
200
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Report Overview
An Increasing emphasis on pipeline safety, expanding oil and gas pipeline infrastructure, rising natural gas consumption, and adoption of IoT and AI technology are expected to drive GCC Oil & Gas Pipeline Leak Detection System Market during the forecast period between 2023 and 2029.

GCC Oil & Gas Pipeline Leak Detection System Market - Industry Trends & Forecast Report, 2029

GCC oil & gas pipeline leak detection system market size is projected to grow at a CAGR of 6.79% by 2029. Major factors driving the growth of the market include the rising investments in the oil and gas sector to meet rising domestic energy demand. Several pipeline construction projects for supplying feedstock to the refinery and petrochemical industries have recently been awarded. With the expansion of the GCC pipeline network, the demand for dependable and cost-effective leak detection systems has increased. The GCC oil and gas pipeline leak detection system market is expected to grow due to increased awareness of pipeline safety and environmental concerns, as well as the ability to reduce operators' cleanup costs.

GCC Oil & Gas Pipeline Leak Detection System Market - Overview

Risks to life and property arising from oil and flammable gas leaks. In industrial plants, it's crucial to find hazardous and combustible gases as soon as feasible. Gas detectors function as an early warning system to ensure the safety of the immediate area by measuring the concentration of various life-threatening gases in the air. In the event of a gas leak, it can also be connected to a control system to shut off the operation automatically. The concentrations of either single or mixed gases can be tracked and measured using these gas detectors. Wireless (portable) or stationary gas detectors are both options. Humans frequently use portable or handheld gas detectors, which warn people when a gas concentration exceeds the safe level.

Growth Drivers

Increase in Global Oil & Gas Exploration and Production Activities

Several new oil and gas exploration projects have been started to satisfy the GGC's expanding demand for oil and gas as a result of the finding of numerous oil and gas resources throughout the GCC in recent years. Such oil & gas exploration and production operations are projected to support the growth of the oil & gas leak detection market throughout the upcoming year.

Restraints

High Cost of Fiber Optic Cable Leak Detection Device

The excessive cost of the fiber optic cable leak detection device, however, may be a significant barrier to its development. For long-distance pipelines, such as cross-country pipelines, fiber optic cable LDS are very sensitive and significantly more affordable.

Impact of COVID-19 on GCC Oil & Gas Pipeline Leak Detection System Market

GCC oil & gas pipeline sector has been hit hard by demand destruction caused by the Covid-19 pandemic and a weak economic outlook. As a result, deferring financial investment decisions (FIDs), reducing capital expenditure, and halting avoidable projects have become the norm for several pipeline operators to survive and overcome the current crisis. The market for gas & oil leak detection in GCC was disrupted since many important enterprises in the industry were obliged to temporarily close to safeguard the workers' health. Also, a major obstacle to the expansion of the market is the scarcity of raw materials for component manufacturing due to the total lockdown on the supply chain side. Due to delays in the delivery of raw materials and components, manufacturing companies were unable to release products onto the market.

GCC Oil & Gas Pipeline Leak Detection System Market

Segmental Coverage

GCC Oil & Gas Pipeline Leak Detection System Market - By Location

GCC oil & gas pipeline leak detection system market is divided into Onshore and Offshore segments. During the forecast period, rising investment in offshore energy resources is expected to drive product demand. The most common leak detection technologies used to monitor buried and unburied hydrocarbon pipelines are fiber optic sensors, flow monitoring, infrared leak detection, and pressure monitoring. Techniques such as tracking gauges used during the inspection process can provide valuable insights when determining pipeline integrity risk. Light Detection and Ranging (LiDAR), Real-time Transient Model (RTTM), Extended-Real time Transient Model (E-RTTM), and Airborne Laser Methane Assessment (ALMA), magnetic induction method, and ground penetration radar are among the other technologies.

GCC Oil & Gas Pipeline Leak Detection System Market - By Technology

Based on technology, the GCC oil & gas pipeline leak detection system market is divided into Acoustic Sensors, Flowmeters, Cable Sensors, Vapor Sensors, and other segments. The acoustic sensors segment accounted for a significant share in the overall GCC market in 2022, owing to a deeper penetration rate in Saudi Arabia, which is also the GCC's largest market for overall leak detection systems.

GCC Oil & Gas Pipeline Leak Detection System Market - By Country

The GCC oil & gas pipeline leak detection system market covers Saudi Arabia, UAE, Qatar, Bahrain, Kuwait, and Oman. In the GCC, Saudi Arabia accounts the highest share of the market. This is due to Saudi Arabia's involvement in the market for oil and gas pipeline leak detection, which has a developed economy. There are significant market players in the nation. As a result, it is expected that over the next years, Saudi Arabia will continue to be one of the lucrative regions in terms of growth and market share.

Competitive Landscape

GCC oil & gas pipeline leak detection system market is fiercely competitive, with major players including Teledyne FLIR LLC, ABB, Honeywell International Inc., Siemens Energy, ClampOn AS, Schneider Electric, Xylem, Emerson Electric Co., KROHNE Messtechnik GmbH, TTK - Leak Detection System, Atmos International Ltd., EFA Technologies, Inc., OptaSense Ltd., Pipeline Technologies & Services LLC (PipeTech), Pure Technologies Ltd., and PSI AG. The key strategies used by these market leaders are new product launches, mergers & acquisitions, and alliances. To grow their market share, these companies are also focusing on investing in innovations, collaborations, and expansions.

By Location
Onshore
Offshore

By Technology
Acoustic Sensors
Flowmeters
Cable Sensors
Vapor Sensors
Others

By Country
Saudi Arabia
UAE
Qatar
Bahrain
Kuwait
Oman

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