Market Size of Europe Pipeline Security Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 3.47 Billion |
| Market Size (2029) | USD 5.23 Billion |
| CAGR (2024 - 2029) | 8.56 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Europe Pipeline Security Market Analysis
The Europe Pipeline Security Market size is estimated at USD 3.47 billion in 2024, and is expected to reach USD 5.23 billion by 2029, growing at a CAGR of 8.56% during the forecast period (2024-2029).
- Pipeline systems have evolved to become the primary solution for commercial activities. The market for pipeline security has been boosted by the demand for sustainable use of resources and the rising frequency of breaches and theft of small quantities of the product being transported.
- The pipeline system has been used since the 18th century for commercial activities. The pipelines are considered the safest, most reliable, and most efficient means of transporting large quantities of natural gas, crude oil, chemicals, and water across nations. Pipeline installations are critical infrastructure of high importance and value, and a threat to it can significantly affect meeting people's and organizations' needs and harm the environment.
- The pipeline installed for transporting commodities is estimated to span 3.5 million kilometers across 120 countries. Natural gas and crude oil pipelines are expected to be the most vulnerable to attacks. Hence, the oil and gas corporation's increased spending to install robust security infrastructure to ensure the security of the pipelines has been the primary reason for the market's growth.
- Demand for natural gas is anticipated to increase faster than the current demand for coal or oil. The increasing natural gas usage is increasing the demand for pipeline security.
- Additionally, the robust state-sponsored cyber-espionage campaigns are the most affected by the oil and gas sector, which can also affect the physical infrastructure. These vulnerabilities have pushed the industry players to divert significant funds for security.
- However, the high deployment and maintenance cost is incorporated with the pipeline security systems as the facility is diverse and scattered. This factor is restricting companies from pipeline security system adoption.
