Get
in-depth analysis of how COVID-19 is impacting the Distributed Temperature
Sensing Market
The overall distributed
temperature sensing market is
expected to grow from USD 734 million in 2020 to USD 958 million by 2025, at a
CAGR of 5.5%. The growth of this market is mainly driven by the growing demand
for labor safety at workplaces, reliability of DTS systems/sensors for sensing
and monitoring applications in harsh environments, and increasing applications
in the oil & gas industry. Increasing safety norms and supportive
government policies related to leakage detection and growing adoption of
data-based analytics provide major opportunities for the growth of the
distributed temperature sensing market.
Multimode
fiber to hold largest share of distributed temperature sensing market during
forecast period
In 2019, multimode fibers held the largest
size of the distributed temperature sensing market. Multimode fibers have a
relatively large light carrying core. These are available in core sizes of 50µm
and 62.5µm and are widely used in DTS applications. The transmitted rays of
light are allowed to follow multiple paths within the fiber. The large core
diameter helps to propagate more optical power in the fiber. The signal
undergoes dispersion since many modes are present, and hence there is more
power loss as compared to single-mode fiber, which eventually restricts the
signal carrying capacity in terms of distance covered.
Largest
share of oil & gas in distributed temperature sensing market is due to
growing implementation of DTS systems
DTS technology has become an integral part of
the oil & gas industry. DTS systems help in continuous, real-time downhole
monitoring to optimize the operational and economic performance of assets. This
enables reservoir engineers to gain a better understanding of the injection and
production dynamics, and accordingly optimizing the production and improving
recovery, subsequently leading to improved profits. Hence, there is an
increasing focus on adopting the technology for enhancing the productivity of
brownfield operations. The analysis of the data collected by DTS systems can
provide additional information on the well behavior, for example, the flow
volume within a particular section of the well.
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Market
in APAC expected to grow significantly during forecast period
The distributed temperature sensing market in
APAC is expected to grow at the highest CAGR during the forecast period. The
increasing construction activities worldwide and the expanding network of power
transmission cables in technologically advancing countries in APAC, such as
China and India, are contributing to the growth of the DTS market in this
region. India, China, South Korea, and Australia are some of the major
countries contributing to the growth and development of the DTS market in this
region. The presence of several oil & gas companies in APAC is also driving
the growth of the DTS market in this region.
Key
Market Players
The distributed temperature sensing market is
currently dominated by Schlumberger Limited (US), Halliburton Company (US),
Yokogawa Electric Corporation (Japan), Weatherford International PLC
(Switzerland), Sumitomo Electric Industries (Japan), OFS Fitel (US), AP Sensing
GmbH (Germany), Bandweaver Technologies (China), NKT Photonics (Germany), and
GESO GmbH & Co. (Germany). A few of the major strategies adopted by these
players to compete in the distributed temperature sensing market are contracts,
partnerships, collaborations, agreements, product launches and developments,
and acquisitions.
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