The Europe Oil and Gas Leak Detection System Market is anticipated to increase in the next five years on account of increased activities in exploration and production activities in the oil and gas sector
Date: 17 March 2016
Rise in Capital Intensive developments in unconventional sources, and increase in offshore exploration in Europe have further propelled the demand for oil and natural thereby accelerating the market for equipments for detecting leaks through the pipeline spreads. Additionally, the government has been investing in the oil and gas pipeline infrastructure, which would propel the leak detection market until 2021.
Decline in crude oil prices and Euro zone crises have brought some major economic challenges for European nations which has affected the oil and gas industry and the market for leak detection equipments. Western European leak detection market has been a dominating region during 2016-2021E because of an extensive natural gas pipelines spread. The oil and gas industry in Western Europe holds the highest share by region having a 2.21% CAGR from 2011-2015.
Russian Federation high exporting capacity for oil has made Eastern European market for leak detection system to grow during 2016-2021. Similarly Oil and Gas Leak Detection Market for Northern Europe comprises of United Kingdom, Denmark, and Poland as their most demanding nations for oil and gas owing to their high consumption demand for energy due to high industrial and manufacturing sector.
With the high demand for energy in the European nations there has been an increase in exploration activities leading to growth in the market for leak detection equipments. 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 offshore market is anticipated to decline but would still be higher than onshore market until the year 2021. 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.
In terms of segmentation, market is categorized By Technology (Accoustic Leak detectors, Fibre Optics , Pressure sensors ,Flow meters and Others) and By Location of Application (Offshore & Onshore).Western Europe, Northern Europe, Eastern Europe And Others are being covered in the Regional segmentation.
“Europe Oil and Gas Pipeline Leak Detection System (LDS) Market: Trends, Opportunities and Forecasts (2016-2021)
– (By Country – UK, France, Germany, Netherlands, Spain, Russia, Czech Republic, Hungary, Poland, Ukraine, Norway, Denmark; By Region - Western Europe, Northern Europe, Eastern Europe; Leak Scenarios & Project Economics; Policy & Regulations)” report has analysed the potential Europe Oil and Gas Leak Detection System Market and provides statistics and information on market size, shares and trends. 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 market entry strategies for various companies, emerging trends along with major drivers, challenges and opportunities in the Europe Oil and Gas Leak Detection System Market Industry.