Market outlook of the oil and gas pipeline safety market
Pipeline safety refers to the set of technological solutions that are implemented by companies to secure the pipeline infrastructure from rising terrorist attacks, natural disasters, external damage, and cyber-attacks. According to our oil and gas pipeline safety market research report, the global market for oil and gas pipeline safety is heavily influenced by the repair and development of the aging pipeline infrastructure and is envisaged to post an impressive market value of more than USD 10 billion by 2019.
Increasing threat from terrorists and criminal activities is the key driver for the oil and gas pipeline safety market growth. The risks from terrorist attacks vary across different segments of the oil and gas industry and include sectors like exploration and production, refining, pipeline transportation, marine transportation, products distribution, and marketing. Since the oil and gas exploration and development sites are easy targets for terrorists, the need for protecting such sites is continually increasing. This growing need to protect oil and gas pipeline infrastructure is expected to bolster market pipeline safety opportunity during the forecast period.
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Segmentation by technologies & services and analysis of hardware, services, & management systems
Technavio’s market research analyst has estimated the management systems segment to dominate the market for oil and gas pipeline safety during the forecast period. Protection of data from destruction or change and unauthorized access is a critical factor that fosters growth in this segment and results in its large oil and gas pipeline safety market share of nearly 39% by 2019.
This industry research report offers an analysis of each of the following segments and discusses its impact on the overall market growth -
- Hardware
- Services
- Management systems
Geographical segmentation of the oil and gas pipeline safety market
In this market research report, analysts estimate the Americas to account for a market share of more than 48% during the forecast period. The growing focus on pipeline safety systems and automation, and upgradation of the aging pipeline infrastructure are some of the major factors that promote market growth in this region during the period between 2014 and 2019.
Competitive landscape and key vendors: ABB, Alstom, GE Digital Energy
This market is characterized by the presence of numerous well-diversified international, regional, and local vendors. In some regions, the local or regional players dominate the market, which results in intense competition during the forecast period.
Key vendors in this market are -
- ABB
- Alstom
- GE Digital Energy
- Schneider Electric
- Cisco Systems
- Honeywell International
Other prominent vendors in this market are BAE Systems, Siemens, Waterfall Security Solutions, HCL Technologies, and Ekin Technology.
Key questions answered in the report include
- What will the market size and the growth rate be in 2019?
- What are the key factors driving the oil and gas pipeline safety market?
- What are the key market trends impacting the growth of the oil and gas pipeline safety market?
- What are the challenges to market growth?
- Who are the key vendors in the oil and gas pipeline safety market?
- What are the market opportunities and threats faced by the vendors in the oil and gas pipeline safety market?
- Trending factors influencing the market shares of APAC, EMEA, and the Americas?
- What are the key outcomes of the five forces analysis of the oil and gas pipeline safety market?
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