The global distributed temperature sensing system market is estimated to create an absolute dollar opportunity of US$ 1210 Mn by the end of 2032. The sales of distributed temperature sensing systems are expected to reach US$ 735 Mn by 2022, rising at a CAGR of 7% over the forecast period 2022-2032.
Growing adoption of distributed temperature sensing devices across the fire detection sector is expected to propel the demand in the market.
Distributed temperature sensing systems are optoelectronic devices that use optic sensor cables and the Raman effect to measure temperature. Temperatures are recorded along the overall length of optical sensors cables allowing the device to map it as a continuous profile and not at points.
These temperature sensing systems are increasingly gaining popularity across diverse industries owing to their benefits such as reduction in operating cost, prevention of deferred production losses, decrease in good intervention, and real-time monitoring of temperature profile.
Distributed temperature sensing systems provide continuous monitoring of the temperature status of high-voltage power cables, identifying hot spots along the overall length of the cable and setting off the alarm when the temperature exceeds the critical limit.
They can detect the change in temperature less than 0.01oC and find the exact location of the event within the proximity of 1 meter.
Attributed to this, these systems are extensively being adopted across power distribution, power cable monitoring, and pipeline monitoring sectors, which is in turn, augmenting the demand for distributed temperature sensing systems in the market.
Request A Sample @ https://www.futuremarketinsights.com/reports/sample/REP-GB-525
Which are Some Prominent Drivers Spearheading Distributed Temperature Sensing System Market Growth?
Distributed temperature sensing systems are finding a wide range of applications across the power generation, transmission, and distribution sectors, on the back of their advantages such as resistance to ionizing radiation and compact size immunity to electromagnetic interference.
In hydrologic processes, these systems are extensively being used across applications such as in monitoring temperature patterns in the stream bed, characterizing the interaction of a stream, and determining transmissive fractures in bedrock boreholes.
Distributed temperature sensing systems also assist in monitoring the downhole temperature in order to study hydrogeological processes at high frequency and spatial resolution.
With deployment of these systems in passive mode for in-site investigation of groundwater flow, in-well flow, and for anticipation of subsurface thermal property on the rise, the sales of distributed temperature sensing systems are projected to exhibit robust growth in the market.
In addition, rising safety concerns regarding workplace safety, growing adoption of data-based analytics, and increasing supportive government policies pertaining to leakage detectio are factors further facilitating the growth in the distributed temperature sensing system market.
What are the Challenges Faced by the Distributed Temperature Sensing System Market?
As the trend of miniaturization continues to create deeper inroads, manufacturers are increasingly integrating innovative technologies to shrink the size of distributed temperature sensing systems without compromising the performance, thereby, making the manufacturing processes expensive.
In addition to this, lack of technical awareness, complexity of identifying thermal events in detection systems, need for basic training before the adoption, and extravagant cost of distributed temperature sensing systems are factors hindering the sales in the market.
Customization Before Buying, Visit @ https://www.futuremarketinsights.com/customization-available/REP-GB-525
Why is North America Emerging as an Opportunistic Distributed Temperature Sensing System Market?
Future Market Insights reveals that North America is anticipated to emerge as the most remunerative market for distributed temperature sensing systems between 2022 and 2032.
Rapid industrialization and rising sales of automotive vehicles have resulted in increasing the demand for fossil fuel products such as diesel, natural gas, gasoline, and others across North America. Hence, governments in countries across the region are increasingly focusing on increasing the production of oil &gas.
For instance, according to a report by the Energy Information Administration (EIA), the production of crude oil and natural gas increased 12.7% and 9.8% respectively in the year 2019 in comparison to 2018. As distributed temperature sensing systems in used for continuous and real-time monitoring of downhole to optimize the economic and operational performance of oil & gas assets, such initiatives are estimated to augment the sales in the North America market.
As per FMI, Asia Pacific excluding Japan is estimated to project robust growth in the global distributed temperature sensing system market over the forecast period 2022-2032.
With rising trend of automation and electrification across the industrial sector, a significant surge in demand for electricity and efficient power distribution is being witnessed across Asia Pacific. Hence, governments in several countries are aiming at developing smart grids and replacing old power infrastructure to decrease electricity loss.
For instance, according to the India Smart Grid Forum (ISGF), the Indian Government announced allocating US$ 129.9 Mn under the National Smart Grid Mission (NSGM) for transforming the country’s power infrastructure and developing smart grids infrastructure across smart cities in India.
Distributed temperature sensing system is increasingly used for monitoring the temperature of high-voltage cables across power transmission and distribution. Hence, increasing number of such smart grid development missions in countries such as China, Australia, South Korea, and others are expected to propel the demand for distributed temperature sensing systems in the market.
Request a Complete TOC @ https://www.futuremarketinsights.com/toc/REP-GB-525
Market Competition
Some of the leading players in the distributed temperature sensing system market are Halliburton Company, GESO GmbH & Co., Schlumberger Limited, OFS Fitel, Yokogawa Electric Corporation, Weatherford International PLC, Sumitomo Electric Industries, AP Sensing GmbH, NKT Photonics, Bandweaver Technologies.
The market for IGBT is highly competitive, due to large number of participants and increasing adoption product launch and capacity expansion strategies by leading players.
Key Segments Profiled in the Distributed Temperature Sensing System Market Survey
By Fiber Type:
- Single-mode Fiber
- Multimode Fiber
By Operating Principle:
- Optical Time-Domain Reflectometry (OTDR)
- Optical Frequency-Domain Reflectometry (OFDR)
By Application:
- Oil & Gas
- Geothermal
- Smart Grid
- Process & Plant
- Fire Detection
- Environmental Monitoring
- Pipeline
- Life Science
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ
- Japan
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact:
Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
Jumeirah Lakes Towers
Dubai
United Arab Emirates
LinkedIn| Twitter| Blogs
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com