March 1, 2017

O&G leak detection market to reach $3.3bn by 2022, driven by increased incidents

The leak detection market for oil and gas is expected to be valued at $3.38 billion (€3.2bn) by 2022, growing at a CAGR of 6.9%, a new market report states.

According to research firm MarketsandMarkets, the growth can be attributed to the increasing incidents of leakages in the oil and gas pipelines and storage tanks at production facilities, development and expansion of existing pipelines and construction of new pipelines, and stringent government regulations pertaining to the implementation of leak detection systems.

Acoustic/ultrasonic technology, widely used in single-phase and multi-phase flow pipelines, is expected to lead the market, owing to its advantages such as quick leak detection capabilities, suitability for leak detection in large pipelines, and the simplified sensor and software setup with minimal calibration.

The market for the extended real-time transient model (E-RTTM) technology is also expected to grow at a high rate as it can detect small leakages and it provides more accurate results and leak locations in fractions of time.

E-RTTM is one of the most widely used technologies incorporated in leak detection systems.

North America is investing significantly in oil and gas pipeline projects to cater to the growing demand for oil and gas, and as such the US is the leading country in terms of oil production and consumption and has the largest network of oil and gas pipelines.

In 2015, the US produced 767.3 billion m3 of natural gas and 12,703.55 thousand barrels of oil per day, according to British Petroleum data.

In North America, several pipeline construction projects have been awarded for the supply of oil to refineries and petrochemical industries.

The US government has mandated stringent regulations pertaining to the implementation of leak detection systems for ensuring pipeline safety and mitigating the rising environmental concerns, which has boosted the demand for leak detection systems.

Additionally, the increasing incidents of leakages in the oil and gas pipelines are contributing to the growth of the market in North America.

The major players in the leak detection market for oil and gas include Honeywell International (US), PSI (Germany), Siemens (Germany), FLIR Systems (US), Krohne Messtechnik (Germany), Schneider Electric (France), Synodon (Canada), Atmos International (UK), Clampon (Norway), TTK-Leak Detection System (France), Pentair (UK), Pure Technologies (Canada), Perma-Pipe (US), Sensit Technologies (US), and Bridger Photonics (US).





November 23, 2017
TransCanada’s permit to operate the Keystone crude oil pipeline in South Dakota could be revoked by state regulators, according to Reuters. An initial probe into the recent major spill on the pipeline... [Read More]

November 22, 2017
Emerson has launched a new line of knife gate valves designed specifically for challenging mid-service mining applications. According to Emerson, the new Clarkson SU10R polyurethane knife gate valves... [Read More]

November 21, 2017
Trelleborg Sealing Solutions have launched a unique rotary seal which aims to achieve strong performance and reliability when running at greater speeds and higher temperature. The new Turcon Roto Glyd... [Read More]

November 21, 2017
Hamburg based Implico has launched a new system to allow its customers to connect legacy field technology with the OpenTAS terminal management system. The new TCP-X-Unit is capable of simultaneously converting... [Read More]

November 20, 2017
Based near Wells in Somerset, St Cuthberts Mill specialises in the manufacture of high-quality artists’ papers. With a heritage that can be traced back to the 1700s, the company makes approximately... [Read More]

November 20, 2017
A Denver, Colorado based oil and gas producer is using Coriolis flowmeters for well head allocation. Bonanza Creek is an exploration and production company focused on extracting oil and associated liquids-rich... [Read More]

November 20, 2017
SNC-Lavalin has announced the agreement of a contract with Ecopetrol in Colombia for conceptual, basic and detailed engineering on high and medium complexity projects through to 2020. Founded in 1911,... [Read More]

November 20, 2017
Hubli, India based Weir BDK will supply Indian EPC contractor M/S Tata Projects with £1.4 million (€1.6 million) worth of butterfly valves. The valves will be installed in the Sri Damodaram... [Read More]

November 16, 2017
The ‘most used and recognised offshore pipeline standard in the world’ has been updated to reflect new pipeline research and developments by leading industry players, including quality assurance... [Read More]

November 16, 2017
Producers Midstream will use UOP Russell modular cryogenic equipment to process 200 million standard cubic feet per day of natural gas at its gas processing facility in the Delaware Basin in western Texas,... [Read More]

November 15, 2017
Scientists in the US are developing an analysis tool to more accurately predict how sulphur compounds in crude oil might corrode equipment. The research aims to address a major safety issue for fluid handling... [Read More]

November 15, 2017
Pump solutions specialist Selwood has launched what it dubs a ‘green-friendly' electric solids handling pump. The UK based company has introduced a new Super Silent electric drive addition... [Read More]

November 14, 2017
Flowmeters come in a variety of forms and operate on a range of different principles. Choosing the correct flowmeter for your application is vital for ensuring both accuracy, efficiency and value for money. Coriolis... [Read More]

November 13, 2017
Grundfos, a specialist in the manufacturer of energy-efficient pumps in the world, has announced that its subsidiary Grundfos Pumps India Pvt (Grundfos India) will be launching a new manufacturing... [Read More]

November 13, 2017
US liquid management solutions provider BakerCorp has recently marked the completion of a multi-site dewatering project for a Denver area public-private construction entity. BakerCorp was chosen as the... [Read More]