GCC countries are the major exporters of crude oil and natural gas in the world. GCC countries are investing billions of dollars for development of oil & gas fields to increase the production. These developments would spur the expansion of both onshore and offshore pipeline network. With the expansion of pipeline network in GCC region, need for reliable and cost effective leak detection system would be witnessed, which would fuel the market for oil & gas pipeline leak detection system.
According to 6Wresearch, GCC Oil & Pipeline Leak Detection System (LDS) market is forecast to grow at a CAGR of 6.52% during 2016-22. Pipeline Leak Detection System (LDS) market in GCC is currently undersize considering the presence of large scale oil & gas infrastructure. The market is promising, which offer huge opportunity as large proportion of existing GCC pipelines are yet to be equipped with leak detection systems.
According to Rajat Kharbanda, Senior Consultant, Research and Consulting, 6Wresearch, “Acoustic / negative pressure wave, Extended Real Time Transient Monitoring (E-RTTM), mass balance in combination with pressure point analysis and fiber optic cable are the most common leak detection system used in GCC region”.
“Acoustic / negative pressure wave leak detection system accounted for major revenue share in the overall GCC market in 2015, mainly due to high penetration rate in Saudi Arabia, which is also the largest market of overall leak detection system in GCC. However, acoustic / negative pressure wave LDS is not the first choice among pipeline operators in other GCC countries such as UAE and Kuwait”, Rajat added.
According to Ravi Bhandari, Research Analyst, Research and Consulting, 6Wresearch, “Over the forecast period, fiber optic cable leak detection system is expected to register highest growth rate in GCC as pipeline operators are looking for more reliable leak detection solution”.
“However, fiber optic cable leak detection system is very expensive which could be a major restraint for its growth. However, fiber optic cable LDS are very sensitive and are much cost effective for long distance pipelines such as cross country pipelines ”, Ravi further added.
The major companies in GCC leak detection system market include- Atmos, Krohne, Pipeline Technologies & Services (PipeTech), PSI AG, OptaSense and others.
“GCC Oil & Gas Pipeline Leak Detection System Market (2016-2022)” provides in-depth analysis with 40 figures and 28 tables covered in more than 120 pages. The report estimates and forecast overall GCC oil & gas pipeline leak detection system market by revenue, application and country. The report also gives the insights on competitive landscape, market share by companies, market trends, company profiles, market drivers and restraints.
Source Link: http://www.6wresearch.com/press-releases/gcc-oil-gas-pipeline-leak-detection-lsd-system-market-2016-2022.html
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