Selbyville, Delaware, May 12, 2020 (GLOBE NEWSWIRE) --
Global Pipeline Pigging Services Market is set to cross USD 2.4 billion by 2026, as reported in the latest study by Global Market Insights, Inc. Shifting trends towards smart inspection technologies along with introduction of supportive regulatory policies & mandates will positively impact industry growth over the forecast timeframe.
The ability to perform multiple operations simultaneously such as pipeline cleaning, inspection without stopping the of product flow are some of the paramount features which will drive the demand of intelligent pigging services. Favourable regulatory policies & mandates pertaining to oil spillage & pipeline operations across the globe will fuel the business growth. Moreover, technological advancement coupled with increased operational efficiency will further boost the service demand.
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The pipeline transportation of natural gas is becoming a key trade route among several key economies. According to International Energy Agency (IEA) the global gas production increased by 4% in 2018 compared to 2017, thereby boosting the demand for pipeline infrastructure. Moreover, the significantly growing natural gas industry is driving the demand for pipeline inspection services and integrity management operations, propelling the growth of pipeline pigging services industry.
Some major findings of the pipeline pigging services market report include:
- Rising investments towards the development of pipeline infrastructure to offset growing oil and gas trade will positively drive the market growth
- The demand for intelligent pigging is surging across the O&G industry on account of its ability to perform advanced inspection operations including detection of corrosion on inner walls, bends, irregularities, metal loss, etc.
- Major players operating across the pipeline pigging market includes, TD Williamson, Inc., Applus+, ROSEN Group, and CIRCOR International, Inc. amongst other
- The upcoming and ongoing pipeline construction projects across Asia Pacific & Middle East region are anticipated to create significant growth opportunities for the market
- Growing focus on shale oil & gas exploitation across North America will propel the installation of sustainable pipeline network relatively driving the pipeline pigging services market growth
Browse key industry insights spread across 270 pages with 364 market data tables & 28 figures & charts from the report, “Pipeline Pigging Services Market Analysis By Service (Intelligent Pigging, Normal Pigging), By Application (Metal Loss/Corrosion Detection, Internal Cleaning, Crack & Leakage Detection, Geometry Measurement & Bend Detection), By End Use (Oil, Gas), Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/pipeline-pigging-services-market
Internal cleaning of pipeline is the most cost effective and simple operation of pigging services used to optimize the flow rate, minimize the presence of foreign matter, and reduce corrosion. In addition, the cleaning pigs are also used for liquid removal and separation of different products in one line. The growing demand for improving the product flow and lowing pigging expenditure and safety risks will propel the service demand for internal cleaning applications.
In the recent past, increasing petroleum product trade flows has significantly fuelled the demand for the pipeline infrastructure across the Asia Pacific region. To effectively maintain the trade flow between countries, the optimal condition of transportation network is essential, which will drive the growth of inspection services in the region. In addition, the significantly expanding pipeline infrastructure coupled with the growing demand for efficient inspection services will augment the pipeline pigging services market growth across the region.
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https://www.gminsights.com/industry-analysis/oil-pipeline-infrastructure-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.