Pipeline Safety Market Expected to Reach $6.73 Billion by 2018 – Report by MarketsandMarkets
The Pipeline Safety Market research report majorly focuses on the protective measures to protect the energy providers & resources against the threats such as attacks on supply infrastructure, accidents, natural & unnatural disasters & rising terrorism & cyber attacks. (http://www.marketsandmarkets.com/Market-Reports/pipeline-safety-market-187556390.html)
(PRWEB) April 02, 2014
The report “Pipeline Safety Market [Physical Security (PIDS, Optic Fiber & Thermal Sensor, Acoustic Sensor, Leakage Detection, UAV, GPS Mapping, Smart Pigging), ICS Security, Professional Services] – Global Advancements, Forecasts & Analysis (2013 – 2018)”, segments the global pipelines based on the type of the products transported, the solutions and technologies used to secure the infrastructure network and professional services. It also identifies drivers and restraints for this market with insights into trends, opportunities, and challenges.
Browse more than 60 market data tables with 14 figures spread through 163 pages and in-depth TOC on Pipeline Safety Market
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The global pipeline safety market is estimated to be $4.35 billion in 2013 and is expected to grow to $6.73 billion in 2018. This represents an estimated Compound Annual Growth Rate (CAGR) of 9.1% from 2013 to 2018.
MarketsandMarkets has segmented the global Pipeline Safety Market based on the
- Type of deployment i.e. on-shore and off-shore
- Type of Product transported through them i.e. natural gas, crude oil, refined products and chemicals, water and others (HVDC, communication)
- Technologies and Solutions Deployed for Infrastructure Security
- Professional Services Offered
- Regions i.e. North America (NA), Asia Pacific (APAC), Europe (EU), Middle East and Africa (MEA) and Latin America (LA)
There has been a significant rise in the construction of pipeline infrastructure all over the world. There has also been a significant increase in the number of attacks and cyber threats in the recent years over these critical infrastructures. The pipelines, compressor stations and control units are slowly becoming the vulnerable areas for security attacks. The attacks on these infrastructures vary from physical intrusion to cyber attacks. To safeguard these infrastructures and energy sector, the governments and pipeline operators are turning towards robust security and safety solutions.
Other factors driving the adoption of pipeline safety solutions are increase in government pressure, environmental constraints, security compliance and regulations. The existence of pipelines in densely populated areas, carrying hazardous materials pose a threat to the public residing alongside the pipelines and also environmental damage. These pipeline networks are widespread and surveillance through foot, car or aerial means are not adequate to monitor pipeline leaks and illegal tapping. Fiber optic cables are distributed sensors, which serve as a standard equipment for voice, video transmission and Supervisory Control and Data Acquisition (SCADA) data. They are often used to serve as a communication medium between remote control stations. They are also effective means to prevent oil/gas spills/leakages due to its unique ability to detect, classify and locate any physical interference caused by a third party. These sensors enable monitoring and early-detection of leaks along the length of the pipeline.
In the current scenario, the natural gas pipelines continue to be the largest segment, in terms of spending and adoption, for pipeline safety solutions, followed by oil and chemical refined products. In terms of regions, North America is expected to be the biggest market on the basis of spending and adoption for pipeline safety solutions. MarketsandMarkets further expects that the increasing energy markets in the developing economies and increased extraction and distribution infrastructure will further enhance the growth of the market.
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For the original version on PRWeb visit: http://www.prweb.com/releases/pipeline-safety-market/by-technologies-solutions/prweb11727723.htm