PUNE, India, Jan. 12, 2021 (GLOBE NEWSWIRE) -- The Global Intelligent Pigging Market Share, Trends, Analysis and Forecasts, 2020-2030 provides insights on key developments, business strategies, research & development activities, supply chain analysis, competitive landscape, and market composition analysis.
The Global Intelligent Pigging Market stood at US$ 600 million in 2019 and is expected to reach US$ 1,050 million by 2030 at a CAGR of 5.2%. Intelligent pigging refers to the inspection of pipes with the help of inspection probes also called as smart pigs. It is used to detect the presence of corrosion or other irregularities on the inner walls of the pipe carrying industrial fluids. With the expansion of process industries such as oil & gas, chemicals, pharmaceuticals, and food & beverages across the globe, the pipeline infrastructure has witnessed increased expansion during past couple of decades. Intelligent pigging plays a crucial role in monitoring the health of industrial pipeline and thus is witnessing increased demand globally. Expansion of oil & gas industry across Asia Pacific and North America owing to discovery of shale gas reserves is anticipated to bolster the expansion of process pipeline, thereby offering prominent opportunities to intelligent pigging service providers during the forecast period.
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Flexible measurement capability and high precision to drive the growth of magnetic flux leakage based intelligent pigging
The global intelligent pigging market is segmented on the basis of technology, pipeline type, application, and geography. Based on technology, the global intelligent pigging market is segmented into magnetic flux leakage, ultrasonic, caliper, and others. The magnetic flux leakage based intelligent pigging contributed the largest share to the global intelligent pigging market in 2019 and is anticipated to be a dominating segment throughout the forecast period owing to increased demand for magnetic flux leakage based intelligent pigging for inspection and measurement of metal loss due to corrosion or gouges. The magnetic flux leakage technology is widely used across industrial applications as it offers pigging of liquid and gas pipelines and does not require liquid couplant as compared to other technologies.
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Increased incidences of pipeline failure due to corrosion is expected to fuel the growth of intelligent pigging in corrosion detection
Based on application, the global intelligent pigging market is segmented into metal loss/corrosion detection, geometry measurement & bend detection, crack & leak detection, and others. The metal loss/corrosion detection segment held the largest share of the global intelligent pigging in 2019 owing to increased demand for corrosion detection of pipelines across multiple industries. Continuous exposure to the chemicals and materials carried through the pipelines results in corrosion of pipes due to chemical reactions. The rising incidences of process failure due to corrosion has resulted in focused and periodic inspection of pipelines for corrosion detection and is expected to be a major factor driving the growth of intelligent pigging market during the forecast period.
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Based on geography, the global intelligent pigging market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America contributed the largest share to the global intelligent pigging market in 2019 and is anticipated to be a dominating segment throughout the forecast period owing to the presence of largest pipeline infrastructure across the United States and stringent regulations governing the operations and integrity of pipelines. Expanding oil & gas processing infrastructure across the United States is anticipated to drive the growth of North America intelligent pigging market during the forecast period. Asia Pacific held a prominent share of the global intelligent pigging market in 2019 and is expected to be the fastest growing segment during the forecast period. Expansion of process industries across leading Asian countries is expected to drive the growth of the Asia Pacific intelligent pigging market during the forecast period.
Major players active in the global intelligent pigging market include Applus+, Baker Hughes Company, ConocoPhillips, Dacon Inspection Technologies, Enduro Pipeline Services, Intertek Group plc, LIN SCAN, NDT Global, OMV Groups, Petróleo Brasileiro S.A, ROSEN Group, Royal Dutch Shell PLC., and T. D. Williamson, Inc.
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