Hyderabad, Aug. 04, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled “Intelligent Pigging Services Market Report (2023-2028),” the market is estimated at USD 294.27 million in 2023. It is expected to register a CAGR of 6.07% during the forecast period.
Intelligent pigging, also known as inline inspection (ILI) or pipeline pigging, is an advanced robotic method employed to inspect the condition and integrity of pipelines. It encompasses using specialized devices called pigs inserted into pipelines and propelled through them utilizing the flow of the transported product or by an external driving mechanism.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 294.27 million |
| Market Size (2028) | USD 395.10 million |
| CAGR (2023-2028) | 6.07% |
| Study Period | 2018-2028 |
| Forecast Units | Value (billion) |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape, and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | The upcoming pipeline projects. |
| Increasing awareness of pipeline safety. |
Who are the Top Companies in the Intelligent Pigging Services Market?
The global intelligent pigging services market is moderately fragmented.
The key players in the global intelligent pigging services market are:
- Enduro Pipeline Services Inc.
- NDT Global Services Ltd
- Pigtek Ltd
- Romstar Group
- SGS SA
- A. Hak Industrial Services BV
- PipeSurvey International
- Decon International Technologies
- Rosen Australia Pty Ltd
- Penspen Limited
Other Reports That Might Be of Your Interest:
- Gas Insulated Transformer Market Report - The gas-insulated transformer market size is expected to grow from USD 2.52 billion in 2023 to USD 3.18 billion by 2028, at a CAGR of 4.75% during the forecast period (2023-2028).
- Gas Turbine MRO Market Report - The gas turbine MRO market in the power sector is expected to grow from USD 27.93 billion in 2023 to USD 32.82 billion by 2028, at a CAGR of 3.28% during the forecast period (2023-2028).
Key Highlights from the Intelligent Pigging Services Market Report:
Caliper Pigging to Hold the Largest Market Share
- Caliper pigs measure the internal diameter of pipelines precisely. They provide detailed information regarding the pipeline's geometry, incorporating variations in diameter, ovality, and dents or deformations. This comprehensive inspection capability is vital for assessing pipelines' integrity and flow capacity.
- Caliper pigging is crucial in pipeline integrity management. Their ability to accurately measure wall thickness is remarkably valuable for assessing the level of corrosion or erosion in pipelines.
North America to Account for Major Market Growth
- North America has witnessed significant growth in oil and gas production in recent years, leading to increasing investments in pipeline infrastructure to transfer the produced fossil fuels.
- Furthermore, the region has stringent regulations to ensure the integrity and safety of pipeline infrastructure. Regulatory bodies, viz., the Pipeline and Hazardous Materials Safety Administration (PHMSA) in the United States and the National Energy Board (NEB) in Canada, mandate regular inspections and maintenance of pipelines.
What are the Latest Developments in the Intelligent Pigging Services Market?
- In January 2023, CDI launched The Qube, a revolutionary device transforming the pipeline pig tracking approach. It is an innovative, compact, and robust above-ground monitoring (AGM) solution exclusively designed for the oil and gas industry.
- In January 2022, KPTL secured a contract from JSW Utkal Steel Ltd to install an iron ore slurry pipeline (Spread I) in Odisha Mines.
Mordor Intelligence has Segmented the Intelligent Pigging Services Market Based on Technology and Geography:
- By Technology
- Magnetic Flux Leakage Pigs
- Caliper Pigs
- Ultrasonic Pigs
- By Geography: Regional Market Analysis {Market Size and Demand Forecast till 2028 (for regions only)}
- North America
- United States
- Canada
- Rest of North America
- Europe
- United Kingdom
- Russia
- Norway
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Australia
- Malaysia
- Indonesia
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Venezuela
- Rest of South America
- Middle East & Africa
- Egypt
- Iran
- Saudi Arabia
- United Arab Emirates
- Nigeria
- Rest of Middle East & Africa
- North America
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Intelligent Pigging Services Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
- Gas-insulated Switchgear Market Report - The gas-insulated switchgear market size is estimated at USD 19.49 billion in 2023 and is expected to reach USD 28.72 billion by 2028 at a CAGR of 8.06% during the forecast period (2023-2028).
- Hydrogen Generation Market Report – The hydrogen generation market size is estimated at USD 177.24 billion in 2023 and is expected to reach USD 218.03 billion by 2028 at a CAGR of 4.23% during the forecast period (2023-2028).
- Nuclear Power Market Report - The nuclear power market size is expected to grow from 406.15 gigawatt in 2023 to 433.67 gigawatt by 2028, at a CAGR of 1.32% during the forecast period (2023-2028).
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the industry’s competitive landscape.
Attachment
