APAC oil and gas pipeline LDS market expected to grow at a CAGR of 3.2% during 2016-2021
Date: 31 August 2016
Rise in offshore drilling activities, increasing demand for life-of-field inspections, technological advancements, cost effective inspection system, increasing pipeline projects, rising demand for leak detection systems, rise in demand for fuel are the basic reasons behind increased demands for the Asia Pacific oil & gas leak detection system market.
Decline in crude oil prices have brought some major economic benefits for Asia Pacific nations which has re-structured the oil and gas industry and the market for leak detection equipment. Eastern Asian Leak Detection market has been a dominating region during 2016-2021E because of an extensive natural gas pipelines spread and high consumption level. The oil and gas industry in Eastern Market holds the highest share by region having a 3.42% CAGR from 2011-2015 followed by South-Eastern Market and Southern Market, respectively.
China has high exporting capacity for Natural Gas as well as is world's largest net importer of petroleum and other liquids, in part because of China's rising oil consumption. This has made Eastern Asia Pacific market for leak detection system to grow during 2016-2021.
The report speaks about the offshore and onshore allocation of the market share wherein rise in the offshore explorations would drive the market in the offshore oil and gas industry. Moreover, the percentage share of the onshore market is anticipated to decline but would still be higher than offshore market until the year 2021. But higher installation cost, water contamination, environmental & public health is one of the biggest restraints faced by this industry. Increase in oil & gas production with an extensive system of pipeline spread has surged the need for detecting more leaks further driving the market for leak detection systems. With the high demand for energy in the Asia Pacific nations there has been an increase in exploration activities leading to growth in the market for leak detection equipment.
The report Asia Pacific Oil & Gas Pipeline Leak Detection System (LDS) Market: Opportunities and Forecasts (2016-2021)
has analysed the potential of Asia Pacific Oil & Gas Leak Detection System Market and provides statistics and information on market size, shares and growth factors. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyses the emerging trends along with major drivers, challenges and opportunities in the Asia Pacific Oil & Gas Leak Detection System Market. Additionally, the report also highlights market entry strategies for various companies across the globe.
A comprehensive research report created through extensive primary research (inputs from industry experts, companies, stakeholders) and secondary research, the report presents the analysis of Asia Pacific Leak Detection Systems (LDS) market on the basis of Application (Onshore, Offshore), by Region (Eastern Asia Pacific, South-Eastern Asia Pacific, Southern Asia Pacific) and By Country (China, Japan, South Korea, Taiwan, Australia, Vietnam, Malaysia, Indonesia, Burma, Thailand, Singapore, India, Pakistan).