Pipeline Safety Global Market Report 2024

The pipeline safety market size has grown strongly in recent years. It will grow from $9.15 billion in 2023 to $10.05 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. Historical growth can be attributed to several factors such as stringent regulatory compliance, increasing environmental concerns, the expansion of pipeline networks, considerations of public safety and perception, and efforts focused on preventing accidents and leakages.

The pipeline safety market size is expected to see rapid growth in the next few years. It will grow to $14.75 billion in 2028 at a compound annual growth rate (CAGR) of 10.1%. The anticipated growth in the forecast period is propelled by the integration of advanced analytics, the adoption of remote monitoring systems, a heightened emphasis on cybersecurity measures, and a focus on proactive maintenance strategies. Major trends expected during this period encompass the use of drone technology for surveillance, enhanced communication and collaboration platforms, effective management of regulatory compliance, the utilization of augmented reality (AR) for training and maintenance purposes, and the development of hybrid pipeline monitoring solutions.

The surge in oil and gas demand is fueling the expansion of pipeline infrastructure, thereby propelling the growth of the pipeline safety market. Notably, in January 2021, the Government of India unveiled a $60 billion plan to invest in the establishment of gas infrastructures, including pipelines, liquefied natural gas terminals, and city gas distribution networks. By March 2023, the US Energy Information Administration reported a rise in crude oil output, increasing from 11.7 million b/d in 2022 to 12.4 million b/d in 2023 in the United States. Moreover, the average daily consumption of natural gas in the US reached 86.6 billion cubic feet (Bcf/d) in September 2022, marking the highest annual consumption compared to the previous year. The heightened utilization of piped gas lines is a significant driver for the growth of the pipeline safety market.

The anticipated surge in energy demand is set to drive the expansion of the pipeline safety market. Energy, encompassing the power sources essential for operating machinery, equipment, and repair tools, plays a crucial role in pipeline operations. Pipelines utilize energy to ensure the secure transportation and distribution of crude oil, natural gas, and refined petroleum products, forming an intricate network connecting production facilities to refineries, distribution centers, and end-users. As an illustration, in April 2023, the Energy Information Administration, a US-based government agency, projected a 5% to 32% increase in energy usage within the US industrial sector between 2022 and 2050. Consequently, the escalating demand for energy is a key catalyst for the growth of the pipeline safety market.

Utilizing artificial intelligence (AI) and advanced detection software represents a pivotal trend within the pipeline safety market. These technologies, exemplified by ABB Ltd.'s introduction of HoverGuard in April 2021, significantly enhance pipeline security and safety measures. HoverGuard, an innovative mobile gas leak detection system, operates through unmanned aerial vehicles (UAVs) equipped with laser-based sensing technology and sophisticated data analytics. This system adeptly identifies odorless and invisible gas leaks within pipeline systems, swiftly mapping and quantifying potential issues across natural gas distribution and transmission networks, gathering lines, and storage facilities. Its capability to generate comprehensive digital reports automatically stands as a testament to its commitment to ensuring safety and reliability within the industry.

Key players within the pipeline safety sector are directing their efforts toward introducing cutting-edge solutions leveraging advanced technologies such as vibroacoustic wave detection systems, aimed at securing a competitive advantage in the market landscape. These systems represent a technological marvel capable of delivering real-time analysis, ongoing monitoring, and leak detection functionalities crucial for pipeline infrastructure. Notably, in March 2023, Eni S.p.A., an Italian oil industry leader, unveiled its proprietary Eni Vibroacoustic Pipeline Monitoring System (E-VPMS). This groundbreaking system stands as a testament to Eni's commitment to continuous real-time monitoring of oil and gas pipelines. The E-VPMS harnesses vibroacoustic wave detection technology, effectively tracking both fluid behavior within the pipeline and the propagation of acoustic waves along its walls. Equipped with multiple sensors strategically positioned at discrete intervals along the pipeline, this innovative solution finds application in block valve stations for buried pipelines, facilitating the transportation of crude oil, refined products, and injection water. Notably, its real-time alarm systems swiftly alert operational teams to incidents and events, ensuring prompt action and mitigation measures.

In August 2022, Baker Hughes Company, a multinational industrial service company based in the United States, successfully completed the acquisition of Quest Integrity for an undisclosed sum. This strategic move is geared towards the augmentation of Baker Hughes Company's portfolio, specifically in the realm of asset inspection solutions tailored for the energy and industrial sectors. Quest Integrity, a provider of asset integrity and reliability management solutions based in the United States, aligns seamlessly with Baker Hughes Company's objectives to enhance its offerings and market presence in the dynamic landscape of asset management and inspection within the energy and industrial domains.

Major companies operating in the pipeline safety market report are Exxon Mobil Corporation, Chevron Corporation, Marathon Petroleum Corporation, Valero Energy Corporation, The Phillips 66 Company, Huawei Technologies Co. Ltd., Energy Transfer Partners L.P., Siemens AG, General Electric Company, Plains All American Pipeline L.P., Cisco Systems Inc., Enbridge Inc., Schneider Electric SE, Honeywell International Inc., ABB Ltd., BAE Systems plc, Kinder Morgan Inc., TransCanada Corporation, Williams Companies Inc., Rockwell Automation Inc., AVEVA Group plc, Total Safety Inc., Perma-Pipe Inc., Senstar Corp., Future Fiber Technologies, TTK Leak detection System, HCL Technologies, ESRI Inc., Magellan Midstream Partners L.P.

North America was the largest region in the pipeline safety market in 2023. 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, Africa. The countries covered in the pipeline safety market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The main types of components for the pipeline safety market are solutions and services. Solutions encompass premier intrusion detection, secure communication, SCADA for pipelines, pipeline monitoring systems, and industrial control system security. Premier intrusion detection involves network security technology, including fence-mounted sensors, to detect intrusions and provide critical time for security teams to respond. Secure communication ensures that parties involved in communication are protected from third-party eavesdropping. SCADA (supervisory control and data acquisition) for pipelines detects errors and facilitates the transfer of information for pipeline operation through communication networks. Pipeline monitoring systems utilize dashboards to visualize metrics related to pipeline functionality, while industrial control system security strengthens cybersecurity measures. In addition to solutions, services play a crucial role in pipeline safety, including professional services and pipeline integrity management services. These services find application in the natural gas, crude oil, refined products, and other sectors to ensure the safe and secure operation of pipelines.

The pipeline safety market research report is one of a series of new reports that provides pipeline safety market statistics, including pipeline safety industry global market size, regional shares, competitors with a pipeline safety market share, detailed pipeline safety market segments, market trends and opportunities, and any further data you may need to thrive in the pipeline safety industry. This pipeline safety market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The pipeline safety market includes revenues earned by entities by offering software technology and solutions to protect and secure pipelines that carry energy products such as crude oil, natural gas, and other fuels. Integration of pipeline safety into pipelines allows monitoring and controlling of the main network connectivity and has various benefits such as reduced liability, less insurance cost, and low administration cost. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.