With 10% CAGR, Intelligent Pigging Market Poised for Strong Growth, Forecast to 2031: Analysis by Technology, Pipeline Type, Applications, and Location, Reveals Latest Market Research Report
Recent additions to Reports and Insights’ inventory of market research reports include a report on the intelligent pigging market that claims to provide readers with a thorough analysis of the market’s growth projections and development possibilities, as well as any prospective business opportunities in the sector. According to a study published by Reports and Insights, the Intelligent Pigging Market size is anticipated to upsurge from USD 756.01 million in 2022 to USD 850.56 million by 2030, with a CAGR of 10%. The intelligent pigging market research includes a comprehensive analysis of the macro- and microenvironmental factors that are anticipated to have an impact on market growth throughout the projected period. Additionally, to identify and compile the elements that are acting as the market’s driving force, analytical methods like PESTEL analysis and Porter’s five forces analysis are used.
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Market Report Stance:
The objective of this report on the intelligent pigging market is to discuss market dynamics, including market drivers, market restraints, intelligent pigging market opportunities for the major players, intelligent pigging market trends, market segmentation outlook, regional outlook, intelligent pigging market size, market forecast, market share, as well as the major players operating in the intelligent pigging market.
A non-destructive testing method called intelligent pigging often referred to as inline inspection (ILI), is used to inspect pipelines for flaws and anomalies. The method entails putting an inspection tool called a “smart” pig into a pipeline to gather information about the pipeline’s condition.
Intelligent Pigging Market: Dynamics
To adhere to government regulations and safety standards in the oil and gas industry, pipeline operators are required to do routine inspections of their pipes. As a result, there is a higher need for intelligent pigging services. Pipeline leaks and breaks can have severe consequences, including harm to the environment and loss of life. By intelligently pigging, potential safety issues can be discovered before they escalate.
The various pipes that are approaching the end of their useful lives require a condition assessment to ensure their safe operation. Intelligent pigging can be used to gather important information on the state of these pipes.
The equipment and data analysis for intelligent pigging requires highly qualified professionals. The market’s expansion may be constrained by a skills gap.
The market for intelligent pigging presents numerous growth and innovation prospects, particularly with the introduction of new technologies, the upsurge of new markets, the retrofitting of current pipelines, and the emphasis on environmental sustainability. By taking advantage of these chances, the service providers can establish themselves as long-term industry leaders.
Intelligent Pigging Market: Regional Outlook
With a substantial pipeline system and a developed market for intelligent pigging services, North America is a region to consider. It is projected that a combination of deteriorating pipeline infrastructure and a rise in the demand for oil and gas will maintain market growth.
In Europe, pipeline infrastructure is governed by laws intended to safeguard pipeline safety and the environment. The market is expected to expand as a result of deteriorating pipeline infrastructure and the requirement to follow regulations.
Due to the high demand for oil and gas, new pipeline building, and retrofitting of existing pipelines, the industry is predicted to expand quickly in the Asia-Pacific region.
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Intelligent Pigging Market: Key Players
The key players operating in the global intelligent pigging market include; T.D. Williamson, Baker Hughes, Rosen Group, NDT Global, Enduro Pipeline Services, Intertek Group, Applus, Lin Scan, Dacon Inspection Services, Onstream Pipeline Inspection, SGS SA, A.Hak Industrial Services, Quest Integrity Group, Cokebusters, Romstar, Halfwave As, Penspen, Rouge Pipeline & Process Services, and Corrosion Control Engineering amongst others.
Contemporary Developments by the Key Players:
- In 2021, Advanced Inline Services, a provider of sophisticated pigging and pipeline inspection services, was acquired by Enduro Pipeline Services. Enduro’s capabilities in the market for intelligent pigging are increased by the acquisition, which also prepares the business for future expansion.
- Baker Hughes unveiled a new ultrasonic intelligent pigging equipment in 2021 that can measure and identify pipeline degradation and cracks. The device provides high-resolution photographs of the pipeline’s inside using phased array ultrasonic technology, enabling more precise and effective inspection services.
- The ROSEN Group revealed that its next-generation intelligent pigging instrument, the Digital iProbe, would debut in 2021. The Digital iProbe provides real-time data analysis during inspections using cutting-edge sensors and artificial intelligence, enabling more effective and precise inspections.
Intelligent Pigging Market: Segmentation
The intelligent pigging market can be categorized based on technology, application, pipeline type, location, and region.
Intelligent Pigging Market, By Technology:
Based on the technology the global intelligent pigging market is segmented into; Geometry Pig (GP), Magnetic Flux Leakage Pig (MFL PIG), Ultrasonic Pig (UT PIG), Electromagnetic Acoustic Pig (EMAT PIG), Eddy Current Pig (EC PIG), Integrated Function Pig, and Others (Specific Function Pig).
Intelligent Pigging Market, By Application:
Based on the application, the global intelligent pigging market is segmented into; Metal Loss/Corrosion Detection, Geometry Measurement, and Bend Detection, Crack and Leak Detection.
Intelligent Pigging Market, By Pipeline Type:
Based on the pipeline type, the global intelligent pigging market is segmented into; Gas, and Liquid.
Intelligent Pigging Market, By Location:
Based on the location, the global intelligent pigging market is segmented into; Upstream, Midstream, and Downstream.
Intelligent Pigging Market, By Region:
Based on the region, the global intelligent pigging market is segmented into; North America, Asia Pacific, Europe, Latin America, the Middle East, and Africa.
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