Intelligent Pigging Market Highlights:
Intelligent Pigging Market is expected to grow at a CAGR of 5.2% during forecast period.
Intelligent pigging is a technique wherein an inspection probe, commonly known as smart pig, is involved in pipeline inspection, measuring pipe wall thickness, and metal loss by direct measurement of the thickness of the pipe wall. This market has various advantages such as it helps in cleaning and inspecting the pipelines without the need to stop the flow of product. It also has the ability to provide a accurate value for local wall thickness whilst being small, lightweight, and easy to mobilize. The key factors driving the growth of the intelligent pigging market is stringent government regulations for pipeline inspections, benefits of intelligent pigging solutions, and concern over the safety of pipelines.
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Report Attribute/Metric
Details
CAGR
5.20% CAGR (2022-2030)
Base Year
2021
Forecast Period
2022-2030
Historical Data
2019 & 2020
Forecast Units
Value (USD Million)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Pipeline Type, Technology and Application
Geographies Covered
North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Based on technology, the market is segmented as magnetic flux leakage, caliper, and ultrasonic. Magnetic flux leakage segment is leading the market as it is majorly used in both liquid and gas pipelines and does not require any liquid couplant like ultrasonic pigging. Considering the application, the market is segmented as metal loss/corrosion, crack & leak detection, and geometry measurement & bend detection. Metal loss/corrosion detection application is expected to hold larger share during the forecast period as corrosion detection would help in avoiding pipe corrosion, stained fixtures, and potential odors.
Market Research Analysis
North America is estimated to hold the largest share during the forecast period
Region wise, North America held the largest market share of the global intelligent pigging market in 2017. North America region has some major players from the oil & gas industry and prominent users of inline inspection services for intelligent pigging. The intelligent pigging market would be mainly driven by increasing awareness among pipeline operators about the benefits of maintenance of pipelines and regular inspection. In addition, significant production and exploration of crude oil and gas in Middle East & Africa would also have a positive impact on the growth of intelligent pigging market during the forecast period.
Scope of the Report
This report provides an in-depth analysis of the global intelligent pigging market, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, and share for North America, Asia-Pacific (APAC), Europe, and Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the intelligent pigging market by its pipeline type, technology, application, and by region.
By Pipeline Type
- Liquid
- Gas
By Technology
- Magnetic Flux Leakage
- Caliper
- Ultrasonic
By Application
- Metal Loss/Corrosion
- Crack and Leak Detection
- Geometry Measurement and Bend Detection
By Regions
- North America
- Asia-Pacific
- Europe
- Rest of the World
Key Players
The key players of the global intelligent pigging market are Baker Hughes (US), Corrosion Control Engineering, (Australia), Rouge Pipeline & Process Services (UAE), Penspen (UK), Halfwave AS (Norway), Romstar (Malaysia), Cokebusters (UK), Quest Integrity Group (US), A.Hak Industrial Services (Netherlands), SGS SA (Switzerland), T.D.Williamson (US), Rosen Group (Switzerland), and NDT Global (UAE), among others.
Research Nester released a report titled “Intelligent Pigging Market Outlook: Industry Insights & Opportunity Assessment 2019–2027” which includes some prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.Intelligent pigs are sophisticated devices that are capable of performing advanced inspection activities and are widely adopted on account of their reliability and effectiveness to help detect flaws that could affect the operational efficiency of the pipelines.
The intelligent pigging system market is anticipated to witness significant opportunities and is estimated to grow at a CAGR of around 5% over the forecast period i.e.
This can be attributed to increase in adoption of intelligent pigging systems owing to their ability to support the businesses for honing their operational efficiency.
The global intelligent pigging market is segmented by technology, application, pipeline type and regions.The Final Report will cover the impact analysis of COVID-19 on this industry@ https://www.researchnester.com/sample-request-1868Geographically, the global intelligent pigging market is segmented by regions into North America, Latin America, Europe, Asia-Pacific and Middle East and Africa, out of which, the market in North America is expected to grow at an incremental rate during the forecast period on the back of rising investments in energy infrastructure and oil exploration activities in the region.
The market in Europe is anticipated to witness moderate growth owing to increasing adoption of smart pipeline inspection gauges in various applications.
Additionally, growing global ties for transfer of oil and gas resources are estimated to propel the growth of the market in Asia Pacific region.Expansion of pipeline network for transportation of oil and gas combined with rise in investment for exploration activities has paved way for increased inspection of pipelines, thereby furthering the demand for intelligent pigging systems around the globe.
