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Pipeline Safety Market: Global Advancements, Forecasts & Analysis (2013 - 2018)

Pipeline safety market forecast to increase by 9.1% CAGR during 2013 to 2018


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2014-04-30 10:24:02 - Pipeline Safety Market: Global Advancements, Forecasts & Analysis (2013 - 2018) - a new market research report on companiesandmarkets.com

Pipeline safety market worth US$6.73 billion by 2018. The global pipeline safety market is estimated to be $4.35 billion in 2013 and is expected to grow to $6.73 billion in 2018. This represents an estimated Compound Annual Growth Rate (CAGR) of 9.1% from 2013 to 2018. In the current scenario, the natural gas pipelines continue to be the largest segment, in terms of spending and adoption, for pipeline safety solutions, followed by oil and chemical refined products. In terms of regions, North America is expected to be the biggest market on the basis of spending and adoption for pipeline safety solutions. MarketsandMarkets further expects that the increasing energy markets in the developing economies and increased extraction and distribution infrastructure will

 

 

further enhance the growth of the market.Increasing demand for oil and natural gas and competitive pricing has forced the government and private players across nations to deploy cheaper and efficient means of transportation. The increase in terrorist attacks and cyber crime on energy sector has also forced the government to set up regulatory policies and security compliances to ensure the safety of the people and environment. The absence of integrated platforms offering both physical and network security solutions, has forced the pipeline operators to deploy multiple security solutions available in the market such as Supervisory Control and Data Acquisition (SCADA) network security solutions, surveillance solutions using unmanned aerial/underwater vehicles, leakage detection solutions and pigging systems to improve their operational efficiency. Major companies are now providing dedicated integrated security platforms to gain traction in this highly fragmented market.The major forces driving this market are the increased government pressure and security compliance and regulations, threats from terrorist attacks and cyber attacks, lack in comprehensive solution for pipeline safety and physical attacks and insider threats. Companies providing physical security solution and cyber security solutions are looking forward to gain a better competitive advantage in this growing market, thereby creating comprehensive security solutions and integrated security management platforms for the rig platforms and refineries.North America alone is estimated to have more than 50% of the global pipelines length transporting mostly natural gas, crude and refined oils and water across the regions. The recent demand for shale gas in the region is estimated to drive the pipeline market in this region. Recent increase in the use of natural gas for transportation and generation of power has forced the companies to ensure safe and efficient transportation of these products. Many government and private pipeline operators are implementing physical as well as cyber security solutions ensuring the safe and optimum utilization of their pipeline infrastructure. Various advanced technologies and solutions such as underground fiber optic solutions, distributed optic sensor networks, Supervisory Control and Data Acquisition (SCADA) network security, pipeline leak detection systems, access control systems and intrusion detection technologies have found their way in the pipeline safety market. They are also implementing the network security solutions such as SCADA security systems, firewalls, anti-virus/malware, Unified Threat Management (UTM), virtualization solutions and Intrusion Detection System (IDS)/ Intrusion Prevention System (IPS) from preventing any threats ranging from cyber threats to criminal attacks.Eminent players such as ABB, Alstom, Honeywell, BAE Systems and Tofino offer integrated security solutions in the pipeline safety market. The challenges faced by the companies are integrating the traditional security technologies with the newer ones over a single user interface. Industrial Defender and other such companies offer integrating solutions that bundle monitoring and managing solutions used in the control mechanism.

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