Dublin, Feb. 22, 2023 (GLOBE NEWSWIRE) -- The "Global Intelligent Pigging Market Size, Trends and Growth Opportunity, By Technology, By Application, By Pipeline Type, By Region and Forecast to 2027." report has been added to ResearchAndMarkets.com's offering.
The global Intelligent Pigging Market was valued at USD 694.30 million in 2021 and is expected to reach at USD 1,007.29 million by 2027 at a CAGR of 5.12% from 2022-2027.
Companies Mentioned
- Baker Hughes Company (U.S.)
- Corrosion Control Engineering(Australia)
- Rouge Pipeline & Process Services (UAE)
- Penspen (U.K.)
- Halfwave AS (Norway)
- Romstar Sdb Bhd(Malaysia)
- Cokebusters Ltd. & Cokebusters Inc. (U.K.)
- Quest Integrity Group LLC (U.S.)
- A.Hak Industrial Services (Netherlands)
- SGS SA (Switzerland)
Pigging is a term used to describe a procedure for cleaning and inspecting a pipeline from the inside out while it is still in use. The approach of in-line checking using smart pigs - pigs that use digital technology - is known as an intelligent pigging system.
The intelligent pigs can carry out sophisticated inspection tasks and are effective at detecting any irregularities on the inner walls of the pipes, including the presence and location of corrosion, metal loss, and others.
Market Drivers
In response to the increasing integration of automation technologies, original equipment suppliers and producers are continuously improving their pipeline inspections and maintenance by investing in R&D. Effective pipeline flow diagnosis is possible with today's sophisticated pigging techniques.
Intelligent pigging service providers are constantly looking for pipeline operators' use of dents and deformations. Because of the increasing in interest for increasingly sophisticated and portable electronic systems, manufacturers are offering relatively small intelligent pigs for conventional applications.
The creation of smaller, intelligent pigs has made it feasible to inspect and maintain the small-diameter pipes. The consequence will likely be a significant expansion of the market for intelligent pigging.
The market for intelligent pigging is also expected to develop during the forecast period as a result of escalating shale gas and offshore deep-water exploration operations, an expanding network of pipelines for the transport of petroleum products, and expansion in the oil and gas industry.
As per estimates, the expanding pipeline project investments, particularly in the oil and gas sector, would create profitable market possibilities and accelerate the growth rate of the intelligent pigging market in the future. Leading firms' improvements in inspection technologies are predicted to assist the market expansion of intelligent pigging.
Market Restraints
It is challenging for developing countries like India and the ASEAN nations to adopt intelligent pigging technologies because they are typically expensive and require significant capital inputs.
Due to the high cost of smart or intelligent pigging services, many pipeline operators opt for cost-effective alternatives; as a result, the market for intelligent pigging will be hampered as a result. Intelligent pigging can finish a few kilometres of the examination in a matter of days, but a thorough study of the data may take longer than 90 days.
During this time, any irregularities that arise inside the pipeline are disregarded, and a subsequent inspection cycle may start much later. Some companies have developed software modules that reduce the amount of time needed to analyse enormous amounts of acquired data.
Data processing currently takes longer than data collection tasks, which is a significant hurdle for the market's expansion for intelligent pigging. The market for intelligent pigging systems, on the other hand, is anticipated to see growth challenges during the forecast period due to a lack of technical expertise.
Market Segmentation
By Technology
- Magnetic Flux Leakage
- Ultrasonic
- Caliper
By Application
- Metal Loss/Corrosion Detection
- Geometry Measurement and Bend Detection
- Crack and Leak Detection
By Pipeline Type
- Gas
- Liquid
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa.
Report Metrics:
| Report Attribute | Details |
| No. of Pages | 167 |
| Forecast Period | 2021 - 2027 |
| Estimated Market Value (USD) in 2021 | $694.3 Million |
| Forecasted Market Value (USD) by 2027 | $1007.29 Million |
| Compound Annual Growth Rate | 5.1% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/nuv7ux
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