In its latest report, MarketsAndMarkets estimates that the global pipeline monitoring systems market size will grow to USD 19.2 billion by 2026, at a CAGR of 7.8% from 2021 to 2026.

The pipeline monitoring systems market is expected to experience significant growth due to the increased number of oil and gas leaks in production, pipelines, and storage tanks caused by natural disasters and high pressure, along with stringent government regulations for pipeline safety and security, and the expansion and upgrading of pipelines.

The trend of developing new devices and solutions for monitoring pipeline performance, optimizing resources, automating functions, and protecting operations is driving the growth of pipeline monitoring systems.

Some of the prominent key players are:

• Siemens AG (USA)
• Honeywell International Inc. (USA)
• Huawei Technologies Co. Ltd. (China)
• BAE Systems (UK)
• TransCanada PipeLines Limited (Canada)

In terms of value, the metal pipes segment is estimated to lead the pipeline monitoring systems market in 2020.

The metal pipes segment accounted for the largest market share in the pipeline monitoring systems market.

Ductile iron pipes, stainless steel pipes, aluminum pipes, and other types, such as cast iron pipes, corrugated pipes, and copper pipes, are considered under metal pipes.

Iron-based pipes can become corrosive when treated with highly oxygenated water vapor; thus, steel metal pipes have a higher demand from end-user industries.

Metal pipes are also more heat-friendly and less prone to corrosion than non-metallic pipes.

The APAC region is estimated to be the fastest-growing region in the pipeline monitoring systems market during the forecast period.

The APAC region is estimated to be the fastest-growing region in the pipeline monitoring systems market, both in terms of value and volume, from 2021 to 2026. This region has the highest growth rate due to rapid economic expansion.

According to the IMF, China and India are among the fastest-growing economies globally. India is expected to surpass China with the highest growth rate, thus leading the global economy.