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 October 29, 2015 - 7:30 AM EDT
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Leak Detection Market for Oil & Gas Worth 2.71 Billion USD by 2020

PUNE, India, October 29, 2015 /PRNewswire/ --

According to the new market research report "Leak Detection Market for Oil & Gas by Technology (Negative Pressure Wave, E-RTTM, Fiber Optic Cables, Vpor Sensing Tubes, Mass-Volume Balance Method, and Others), by Type (Upstream, Midstream and Downstream) and Region (America, Europe, Middle East and Africa) - Global Forecast to 2020", published by MarketsandMarkets, the Leak Detection Market is expected to reach USD 2.71 Billion by 2020 at an estimated CAGR of 7.1% from 2015 to 2020, which includes an in-depth analysis of the market by type, technology, application, and geography.

Browse 70 market data Tables and 61 Figures spread through 202 Pages and in-depth TOC on "Leak Detection Market for Oil & Gas".

Early buyers will receive 10% customization on this report. 

The leak detection system for oil & gas detects and locate the exact location of the leakage. The main purpose of the leak detection system is to assist the pipeline operators and monitors in detecting and localizing the leakage. This leak detection systems can detect the leakage at all stages of oil & gas industry such as upstream (exploration & production), midstream (pipeline networks), and downstream (refineries and storage tanks).

In oil & gas industry the leak detection system is used for detecting the leakages during the process of exploration of crude oil & natural gas during the supply of oil & gas through pipeline network, and during refinement. This helps the oil & gas companies to avoid the heavy losses caused due to the leakages and also helps the companies to follow the regulations provided by the government for safety of environmental concerns.

The major challenges associated with leak detection system are that a leak detector should be able to perform identification, localization, quantification, and classification (medium, harmful/harmless) of a leakage. As per the study, no technology alone can perform all of these operations and it may be hard to accomplish by combining sensors. Moreover, another challenge for the leak detection system is to handle the unwanted warnings often generated due to the natural seepage of hydrocarbons from the seabed. Future trend for leak detection system for oil & gas includes improving the performance of leak detection systems beneficial to overcome the above mentioned challenges.

This report describes market trends, drivers, and challenges with respect to the global Leak Detection Market for Oil & Gas, and forecasts the market size between 2015 and 2020, segmented on the basis of type, technology, application, and geography. This global report provides a detailed view of the market across regions, namely, North America (the U.S., Canada, and Mexico), Europe (Russia, Germany, the U.K., Others), Asia-Pacific (Japan, China, India, South Korea, Rest of APAC), and RoW (Middle East & Africa, Latin America).

The competitive landscape of the market presents a very interesting picture. The market is witnessing new product launches, large scale collaborations, and agreements and partnerships across the value chain, with a number of major players around the globe.

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Major players in the global leak detection market for oil & gas include Honeywell International Inc. (U.S.), PSI AG (Germany), Pentair Ltd (U.K.), Pure Technologies Ltd. (Canada), Siemens AG (Germany), Perma-Pipe, Inc. (U.S.) , Krohne Group (Germany), Schneider Electric (France), ATMOS International (U.K.), TTK (U.K.), and ClampOn AS (Norway).

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About MarketsandMarkets 

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Source: PR Newswire (October 29, 2015 - 7:30 AM EDT)

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