Ultrasonic Pipeline Monitoring System Market

Pipeline monitoring systems are used to evaluate corrosion and bacteriological control programs, to collect samples without generating hazardous wastes, to provide on-line analysis of chemical treatment programs, to collect data that satisfies regulatory monitoring requirements, and to evaluate and monitor pipeline risk and integrity. Pipeline monitoring systems can be installed on new or existing lines both on and offshore. Permanent, portable, insulated, and trailer mounted systems are available. Nowadays, ultrasonic technology is widely used in the pipeline monitoring system.

Market Scope and Structure Analysis

The factors that drive the global pipeline monitoring systems industry include growth in leakages in oil & gas industry, government regulations for safety and monitoring, and the need to prevent large storage tanks. In addition, investments made by governments in pipeline infrastructure are expected to boost the pipeline monitoring systems market growth. The rise in concerns about pipeline security has led to increased expenditure for reliable and authentic monitoring networks by oil & gas companies. Moreover, enhanced adoption of pipelines globally is expected to result in increase in market size during the forecast period. However, political instability is expected to hamper the pipeline monitoring systems market growth.

COVID-19 impact analysis

• COVID-19 pandemic has shut down the production of various products in the ultrasonic pipeline monitoring system market attributed to the lockdown in countries worldwide. This has hampered the growth of the ultrasonic pipeline monitoring system market from the last few months and is likely to continue during 2021.
• COVID-19 has already affected the sales of the ultrasonic pipeline monitoring system in the first quarter of 2021 and is anticipated to cause a negative impact on the market growth throughout the year.
• The major demand for the ultrasonic pipeline monitoring system was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, UK, and China, which are negatively affected by the spread of the coronavirus, thereby declining the demand for the ultrasonic pipeline monitoring system.
• Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Ultrasonic pipeline monitoring system manufacturers can afford a full lockdown only for a few months, after which the players have to modify their investment plans. For instance, various players in the market halted their production activities for several weeks to reduce the expenses. Whereas few players also adopted employee lay-offs to sustain during the COVID-19 health crisis
• Ultrasonic pipeline monitoring system manufacturers are expected to focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19. For instance, provision of sanitizers, maintaining social distancing, as well as ensuring the vaccination of every employee in the company can assist in promoting the health & safety of the workforce.

Top Impacting Factors

Ultrasonic testing in the pipeline monitoring systems market technology generated the highest revenue in 2016, and is one of the most used technologies in the industry. Ultrasonic technique examines wall thickness in the pipeline. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of the market players.

Market Trends

• The use of ultrasonic pipeline monitoring system in the petroleum industry is also expanding day by day. For instance, Visakh Refinery Modernization Project (VRMP) is one of the major projects where the ultrasonic technology in the pipeline monitoring system was used.
• Similarly, strategic partnerships and collaborations help to strengthen the base of each company and achieve mutual aspirations faster by leaning on one another’s experience, network and resources. It gives a competitive edge and allows to extend a broader range of opportunities. For instance, Schlumberger a France based company says that their inherent partnership culture enhances their ability to deliver the solution on time and within budget.
• Companies would have to take technology and innovation as a strategic objective of the company to sustain their competitive advantage. Key players have to plan, define, and execute strategy in a way to develop required capabilities to meet customer and stakeholders' desires. For instance, Novosound provides ultra-sound sensors for monitoring of pipelines in oil and gas industries. Offers a range of probes operating from 10MHz up to 150MHz which provides information regarding cracks and physical faults in the pipeline and can operate at a very high temperature of 250 degree Celsius. Can also be used for NDT imaging, dental imaging, and medical imaging.

Key benefits of the report

• This study presents the analytical depiction of the ultrasonic pipeline monitoring system market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the ultrasonic pipeline monitoring system market share.
• The current market is quantitatively analysed to highlight the ultrasonic pipeline monitoring system market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed ultrasonic pipeline monitoring system market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the Ultrasonic Pipeline Monitoring System market report

• Who are the leading global players in the ultrasonic pipeline monitoring system market?
• What are the current trends and predicted trends?
• What is ultrasonic pipeline monitoring system?
• What is ultrasonic pipeline monitoring system market prediction in the future?
• What are the challenges faced in the ultrasonic pipeline monitoring system market?
• What are the driving factors and opportunities in the market?
• What are the key benefits of the ultrasonic pipeline monitoring system market report?

 Ultrasonic Pipeline Monitoring System Market Report Highlights