Global Pipeline Safety Market to Value USD 8.7 Bn by 2021, Expects M&M in New Report Available at MarketPublishers.com23 Nov 2016 • by Natalie Aster
LONDON – As of 2016, the value of the world’s market for pipeline safety is estimated to be approximately USD 5.6 billion. This value is set to increase in the coming years as a result of the impact of a range of factors. For instance, higher spending by oil and gas companies for network projections and infrastructure is one of them. Some other important drivers comprise sustainable use of resources and expansion of refineries, among others.
This marketplace is set to grow at a CAGR of slight over 9% in the offing to almost hit the value of USD 8.7 billion by 2021. This market also has some restraints like political instability in the Middle East.
Growing security regulations as well as mandatory standards create new opportunities for the marketplace. The rise in the demand for oil and gas across developed economies creates another attractive opportunity for the market.
The marketplace deals with some challenges: fund deficiency, existence of multi-site facilities, and more. The SCADA for pipelines segment is forecast to showcase the highest growth in the coming years among all segments.
North America is set to dominate the worldwide marketplace in 2016. The U.S. is the largest market in this region, and it will witness the highest growth in the years to come.
New research report “Pipeline Safety Market by Technology and Solution, Service, Vertical, and Region - Global Forecast to 2021” worked out by M&M offers a thorough analysis of the world’s pipeline safety marketplace. The study provides a 360-degree overview of the market space. It explores dynamics of the global marketplace.
The report focuses on industry trends. The research study examines the marketplace on the basis of following factors: components, services, technologies and solutions and verticals. It proceeds with in-depth insights into regional markets.
The research report scrutinizes the competitive environment, as well. Besides profiling top-notch players, the study gives development projections to 2021.
More new research reports by M&M can be found at its page.