New York, December 21, 2020 (GLOBE NEWSWIRE) – Reportlinker.com announces publication of the report “Leak Test Market for COVID-19 Influenced Oil & Gas by Technology, Media and Sector – Global Forecast to 2025” – https : //www.reportlinker.com/p03363502/? utm_source = GNW
As a result, operators around the world are expanding their existing pipeline networks, as well as building new pipelines to meet the growing demand for gas and gas. natural oils.
Redesign problems associated with some leak detection systems are expected to halt market growth. In addition, the lack of efficient leak detection systems that provide information related to various leakage parameters and the decline in global oil prices are expected to be key challenges for market players.
Oil is physically traded in varying degrees. The most popular trading rates are Brent Brent Sea Sea Raw (commonly known as Brent Raw) and West Texas Intermediate (commonly known as WTI).
With the global spread of the COVID-19, fuel supply has surpassed its demand by a large margin worldwide. Falling oil prices have had a major impact on the global oil and gas industry.
It also affected the financial position of major oil and gas companies, as well as delays in forthcoming projects and for example. In April 2020, the Argentine Ministry of Energy suspended the auction of projects for the development of Vaca Muerta – Buenos Aires natural gas pipeline due to the deteriorating economic situation of the country due to the pandemic.
However, with rising oil prices, the oil and gas market is expected to recover by 2021–2022.
E-RTTM Technology: The fastest leaking technology market segment for oil & gas.
E-RTTM refers to an extended real-time mobile model. It is used to detect leaks and identify their location.
The advantages of leak detection systems based on E-RTTM technology over systems based on other technologies are that these systems can detect small leaks, accurately identify the size of the leaks, and all dynamic dynamic characteristics (flow, pressure, and temperature). These systems consider a wide range of physical characteristics of pipeline (length, diameter, thickness, etc.), as well as product characteristics (density, viscosity, etc.). Therefore, they give very accurate results regarding leaky spots in less time.
Natural Gas: The main segment of the leakage detection market for oil & gas.
There has been a huge increase in natural gas consumption in recent years. The presence of natural gas resources and increased production make it a competitive energy source.
Natural gas remains a major fuel in electric power generation and the industrial sectors. In the electric power generation sector, natural gas is the preferred choice due to fuel efficiency.
It also burns cleaner than coal or petrol products. With governments of different countries implementing national or regional plans to reduce carbon dioxide emissions, they are expected to encourage the use of natural gas more than carbon-intensive coal and smelting fuels.
The reliability and security of gas transport infrastructure is therefore a top priority in the energy sector. Leak detection systems detect in a timely manner those parts of gas infrastructures that are prone to leakage. These systems generate quick responses to stop gas leaks and ensure proper piping maintenance. Some of the important leak detection technologies used for natural gas leak detection are thermal imaging, RTTM or E-RTTM, and acoustic.
North America: The leading segment in global leak detection market for oil & gas.
North America is expected to account for the largest volume of leakage detection market for oil & gas from 2020 to 2025. The U.S. government will provide large subsidies to petrol companies in the form of tax exemptions at almost every stage of the oil exploration and extraction process. , just from renting oil fields to drilling equipment.
Government support for the growth of the U.S. oil and gas industry is one of the main reasons for the rising number of oil and gas projects in the country. This is expected to contribute to the growth in demand for leaks. detection technologies and systems in the USA.
In addition, according to the Pipeline Safety and Hazardous Materials Administration (PHMSA), a body of the U.S. Department of Transportation, the growing incidents of leaks in the oil and gas pipelines and storage tanks at production facilities are also leaking growth market growth. for oil & gas in North America.
The study includes insights from a variety of industry experts, from parts suppliers to Level 1 companies and OEMs. The breakdown of the primary schools is as follows:
• By company type: Level 1 – 40%, Level 2 – 25%, and Level 3 – 35%
• By specification: C level operators – 35%, Leaders – 28%, and others – 37%
• By region: North America – 47%, Europe – 20%, APAC – 18%, South and Central America – 10%, and the Middle East and Africa – 5%
Honeywell International Inc. (US), Emerson Electric Co. (US), ABB (Switzerland), KROHNE Group (Germany), PSI AG Software (Germany), Atmos (UK), AVEVA (UK), FLIR Systems Inc. (US)), HIMA (Germany), Yokogawa Electric Corporation (Japan), Asel-Tech (Brazil), Bridger Photonics (US), Flyscan Systems Inc. (Canada), Fotech Group Ltd. (UK), Hawk Measurement Systems (Australia), MAGNUM (Germany), MSA Safety (US), OptaSense Ltd. (RA), Simulation Software Ltd. (UK), and TTK (France) are some of the key players operating in the leak detection market for oil & gas.
Search Cover:
The report separates the leak detection market for oil & gas and predicts its size, by value, based on Technology (acoustic / ultrasonic, extended real-time mobile module (E-RTTM), fiber optic , mass / size balance, valve sensing, thermal imaging, and laser and LiDAR inclusion), Medium (Oil and Condensation and Natural Gas), Position (Coast and Coast) and Division (North America, Department) Europe, Asia Pacific, South and Central America, Middle East and Africa),.
The report also provides a comprehensive review of market drivers, restrictions, opportunities, and challenges in the leak detection market for oil & gas. The report also addresses the qualitative as well as the quantitative aspects of these markets.
Key benefits from purchasing the report
The report will help the new leaders / entrants in this market with information about the closest estimates of the revenue numbers for the overall market and the segments. This report will help stakeholders gain more insight into the better positioning of their businesses and the appropriate design to accompany market strategies.
The report also helps stakeholders understand the pulse of the oil & gas leak detection market and informs them about key market drivers, restrictions, challenges, and opportunities.Report also covers the impact of COVID -19 on leakage detection market for oil & gas.
Read the full report: https://www.reportlinker.com/p03363502/?utm_source=GNW
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