Gas and Oil Pipeline Leak Detector Global Market Report 2024, Featuring Schneider Electric, Synodon, Siemens, Teledyne FLIR and Atmos International [Yahoo! Finance]
SCHNEIDER ELEC UNSP/ADR (SBGSY)
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Source: Yahoo! Finance
The gas and oil pipeline leak detector market size has grown strongly in recent years, from $2.95 billion in 2023 to $3.1 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The expansion observed in the historical period can be attributed to several factors, including economic influences, industry consolidation leading to more efficient operations, enhanced incident response measures, the evolution of regulatory frameworks governing pipeline safety, ongoing infrastructure development, and the initial adoption of relevant technologies within the sector. These elements collectively contributed to the growth and development of gas and oil pipeline leak detection during that time. The market size is expected to see continued growth, reaching $3.76 billion in 2028 at a CAGR of 4.9%. The anticipated growth in the forecast period is expected to be driven by factors such as market expansion, the rise of emerging economies contributing to increased demand, heightened investmen
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