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Report
MEA Pipeline Security - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029
Market Report I 2024-02-17 I 120 Pages I Mordor Intelligence
The MEA Pipeline Security Market size is estimated at USD 2.10 billion in 2024, and is expected to reach USD 3.32 billion by 2029, growing at a CAGR of 9.61% during the forecast period (2024-2029).
Increasing demand for monitoring, regulating, and leak detection systems fluid dynamics and worries about pipeline safety in the chemical and power generation industries due to strict government regulations are driving the market growth in the region. Most oil and gas companies spend more than planned updating the existing pipeline infrastructure.
Key Highlights
-The pipeline system has been utilized for business purposes since the 18th century. Large volumes of crude oil, natural gas, chemicals, and water are transported over national borders using pipelines, regarded as the safest, most dependable, and most effective methods. A danger to pipeline installations could substantially impact the requirements of people and organizations, harm the environment, and be of high relevance and value.
-The Middle East and African governments are working to create and implement regulations to protect pipelines from these threats, which include terrorist attacks, sabotage, illegal wiretapping, and cyberattacks. Businesses must therefore adopt comprehensive solutions that comply with all relevant laws, rules, and regulations.
-Due to the increasing global concern for the environment, governments worldwide have also set several safety and recovery regulations involving the leaking of hazardous compounds. This is also anticipated to promote market growth throughout the forecast period.
-The development of these oilfields, along with loading conditions like permafrost, fault crossings, and ice sourcing that may strain pipelines, pose a challenge for upstream operations because countries are searching for oilfields in remote and harsh environments due to the declining oil demand.
-The global spread of the COVID-19 pandemic significantly affected the market's expansion because of the restrictions imposed in various regions, which decreased demand for energy products like crude oil, diesel, and petrol. This decreased company investment in adopting advanced technologies, temporarily slowing the need for pipeline security systems. However, the market is projected to pick up steam throughout the projection period as things return to normal and firms begin to open up.
MEA Pipeline Security Market Trends
Pipelines for the Transportation of Crude Oils to Drive the Demand
- Since a sizable percentage of the revenue created by the countries in the region is generated via the sale of crude oil, the discovery of enormous oil reserves has significantly contributed to the growth of various countries in the Middle East and Africa.
- By 2022, the Middle East and Africa's oil and gas pipeline market were expected to grow by over USD 10 billion. A further 43% of the region's planned and announced pipeline length additions between 2020 and 2023 are in the Middle East and are new-build transmission pipelines for oil and gas.
- The region is plagued by civil war, tremendous turmoil, shifting geopolitical alliances, and conflicting coalitions. As a pipeline is protected, security mechanisms become increasingly important. Oil and gas corporations have boosted their investment in cutting-edge technologies to preserve pipelines.
- Additionally, there are increasing instances of explosions and pipeline leaks. The need for safety and security systems is growing because gas leaks from pipelines frequently result in environmental pollution, fires, and explosion accidents due to the flammability gearbox medium's flammable and explosive nature. These incidents will likely cause significant harm to the environment.
Saudi Arabia to Hold Significant Market Share
- Saudi Arabia is the world's second-biggest producer of all petroleum liquids and the greatest producer of crude oil in OPEC. The EIA estimates that 15% of the world's proven oil reserves are in Saudi Arabia. With almost 12 million barrels per day of production capacity, including capacity from the Neutral Zone that is shared with Kuwait, it is the greatest crude oil exporter in the world.
- Additionally, Saudi Arabia and Saudi Aramco are engaged in a significant initiative. The new pipes will aid Aramco in moving gas from Saudi Arabia's east to west. Aramco will need extra pipes for the carbon capture and storage (CCS) system, which would transport all the carbon emissions captured down the ground through a pipeline of between 400 and 500 thousand metric tonnes.
- Additionally, the increased use of geospatial data and related information during this slowdown will speed up the adoption of IoT, connected devices, and emerging technologies, enabling features like pipe safety and streamlining technical use across the region, which boosts market growth.
- Pipelines play a crucial role in the nation's water supply system because water is also a limited resource. The Saudi government wants to make sure that the nation's water resources are developed sustainably while offering services that are both inexpensive and of good quality, which is anticipated to lead to increased investment in cutting-edge technologies like pipeline security systems for efficient resource management.
MEA Pipeline Security Industry Overview
The Middle East and Africa Pipeline Security Market is moderately competitive. But as oil corporations and the government spend more on technology, more vendors are entering the market, which is projected to boost market competition throughout the forecast period. ABB Ltd., Honeywell International Inc., Siemens AG, and Huawei Technologies Co. Ltd. are a few major companies active in the sector.
In April 2023, General Electric Co. announced that Baker Hughes' acquisition of Nexus Controls by its Gas Power division was completed. With the addition of this industry-leading aftermarket control system upgrade and field service capability, GE Gas Power, a division of GE Vernova, will establish a single, full-service controls business line in charge of advancing the Mark Vle controls systems platform, putting the OnCore system into use, as well as streamlining and enhancing the delivery and service of its controls offerings to clients.
In March 2023, SightLogix introduced SightTracker smart camera with Edge AI that automatically zooms and follows outdoor intruders with fast, on-target responsiveness. SightTracker PTZ works with SightSensor thermal detection cameras, staying locked onto intruders as they move throughout the site, even beyond the field of view of the detecting camera.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Buyers
4.2.2 Bargaining Power of Suppliers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Industry Value Chain Analysis
5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increased Spending by Oil and Gas Companies for Reliable Protected Networks
5.1.2 Increased demand for natural gas and the upgradation of refineries
5.1.3 Rising Political Instability in the Region
5.1.4 Pipelines for the Transportation of Crude Oils to Drive the Demand
5.2 Market Restraints
5.2.1 High Installation & Maintenance Cost
5.2.2 Distributed Site Locations
5.3 Assessment of the Impact of COVID-19 on the Market
6 MARKET SEGMENTATION
6.1 By Products
6.1.1 Natural Gas
6.1.2 Crude Oil
6.1.3 Hazardous Liquid Pipelines/Chemicals
6.1.4 Water
6.1.5 Other Products
6.2 By Technology and Solutions
6.2.1 Unmanned Aerial Systems
6.2.2 Perimeter Security
6.2.3 Electric-Optic Systems
6.2.4 Ground Sensors
6.2.5 PIG Location Monitoring
6.2.6 Sub-Aqua Systems
6.2.7 Video Surveillance
6.2.8 Control Systems
6.2.9 Other Technology and Solutions
6.3 By Country
6.3.1 United Arab Emirates
6.3.2 Saudi Arabia
6.3.3 Israel
6.3.4 South Africa
6.3.5 Other Countries
7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 GE Grid Solutions SPA
7.1.2 ABB Ltd.
7.1.3 Optasens Ltd.
7.1.4 Honeywell International Inc.
7.1.5 Siemens AG
7.1.6 Thales S.A.
7.1.7 General Electric Co.
7.1.8 Bae Systems Inc.
7.1.9 Environmental Systems Research Institute, Inc.
7.1.10 Huawei Technologies Co. Ltd.
7.1.11 SightLogix, Inc.
7.1.12 SkyWave Mobile Communications, Inc.
7.1.13 Future Fiber Technologies Ltd.
7.1.14 Senstar Corporation
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9 FUTURE OF THE MARKET
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