PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1320190
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1320190
Intelligent Pipeline Pigging Services Market size was valued at USD 690.1 Million in 2022, expanding at a CAGR of 4.7% from 2023 to 2030.
Pipeline pigging is the term for the regular cleaning, maintenance, and inspection of pipelines using pigging equipment or machinery, more precisely Pipeline Integrity Gauges, or "PIGs." PIGs are moved through the pipeline by product flow and differential pressure.
The increasing demand for oil & gas is expected to propel the growth of the market over the forecast period. For instance, primary energy consumption is anticipated to nearly double to 1,123 million tonnes of oil equivalent by 2021, according to the IEA's India Energy Outlook 2021, as India's gross domestic product (GDP) rises to US$8.6 trillion by that year. Moreover, according to the India Brand Equity Foundation, India is anticipated to provide one of the biggest worldwide contributions to the increase in non-OECD petroleum consumption. In the period from April to January 2023, India consumed 183.32 MMT of petroleum products. High-Speed Diesel, which made up 38.84% of all petroleum products used in FY22 in India, was the most popular oil product. Thus, the aforementioned facts propel the market growth.
The Global Intelligent Pipeline Pigging Services Market is segmented based on Technology, Application, and Region.
Based on technology, the global Intelligent Pipeline Pigging Services market is segmented into magnetic flux leakage pigs, caliper pigs and ultrasonic pigs. The caliper pigs segment is expected to dominate the market over the forecast period. Pipeline interior diameter may be precisely measured using caliper pigs. They include thorough details regarding the geometry of the pipeline, such as diameter changes, ovality, and dents or deformations. For determining the integrity and flow capacity of pipelines, this complete inspection capability is crucial. In addition, caliper pigging is essential for maintaining pipeline integrity. Operators can detect areas of concern that need more inspection or maintenance by looking for abnormalities like corrosion, scale accumulation, or physical damage. Caliper pigs' capacity to precisely measure wall thickness is especially useful for determining the degree of corrosion or erosion in pipelines. Thus, these applications of caliper pigs are expected to propel market growth.
Based on the application, the Intelligent Pipeline Pigging Services industry is segmented into crack & leakage detection, metal loss/corrosion detection, geometry measurement & bend detection and others. The metal loss/corrosion detection segment is expected to capture the largest revenue share over the projected period. One of the main problems affecting the functionality of the oil and gas pipeline system is corrosion. Because of this, the majority of suppliers employ pigging as a first step in pipeline inspection. Vendors use a variety of technologies, including Magnetic Flux Leakage (MFL) and Ultrasonic Testing (UT), to inspect with the use of tools like intelligent pigs that help with corrosion identification for oil and gas pipelines. These multi-channel instruments, which feature transducers, enable accurate data collecting and internal pipe wall scanning.
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America is expected to dominate the market over the forecast period. Intelligent pigging technology is developing quickly in North America. Companies engaging in R&D to improve the capabilities of intelligent pigging devices have made the region a centre for innovation. These developments draw clients from all around the world and help North America dominate the business. Additionally, in North America, a large number of pipelines have been in use for several decades and need to be regularly inspected and maintained due to age. An efficient way to evaluate these pipelines' conditions, spot possible problems, and set priorities for maintenance tasks is through intelligent pigging. For instance, in February 2023, following the discovery of a leak a few days earlier, Kinder Morgan announced that repair work on a pipeline had been finished and it had resumed operations. The pipeline in question transports unleaded gasoline and diesel to storage facilities in southern Nevada. It originates in California. Thereby, driving the market growth in the region.
To diversify their service offerings and increase market share, leading firms in the sector are implementing a range of organic and inorganic development tactics. The key market players are SGS SA, Decon International Technologies, Pigtek Ltd, Romstar Group, Enduro Pipeline Services Inc., A.Hak Industrial Services B.V, PipeSurvey International, NDT Global Services Ltd., Rosen Australia Pty. Ltd. and Penspen Limited.
In January 2023, the Qube, a ground-breaking device from CDI, revolutionized the pipeline pig tracking strategy. The Qube is an avant-garde, manageable, and durable above-ground monitoring (AGM) device created especially for the oil and gas sector. Its main job is to look for pipeline pigs as they go through the pipes. The Qube's impressive features include the ability to recognize up to eight frequencies of magnetic transmitters attached to the pipeline pigs due to its GPS and magnetic data sensors. It can also recognize MFL magnetizers. The Qube guarantees dependable performance in tough conditions thanks to its industrial-grade build. The effectiveness of pipeline pig tracking activities will be redefined and improved by this ground-breaking device.