Global Intelligent Pigging Market is Expected to Reach $1,008 Million by 2027: Increasing Deployment in Pipelines to Check Metal loss, weld Anomalies and Corrosion Drives Growth

DUBLIN, May 2, 2023 /PRNewswire/ -- The "Global Intelligent Pigging Market Report and Forecast 2022-2027" report has been added to  ResearchAndMarkets.com's offering.

According to the report, the global intelligent pigging market attained a value of USD 744.55 million in 2021. Aided by the thriving oil and gas industry and stringent safety regulations of the government, the market is projected to further grow at a CAGR of 5.45% between 2022 and 2027 to reach a value of USD 1,008.90 million by 2027.

Intelligent pigging, also known as smart pigging, refers to a pipeline inspection technique. In this technique, an inspection probe is moved through a pipeline to check for irregularities or damage to the inner walls. Intelligent pigging is advanced as compared to traditional pipeline inspection techniques and can carry out examinations such as ultrasonic testing. The increasing deployment of intelligent pigging in pipelines to check metal loss, weld anomalies, and corrosion, among others, is driving the global intelligent pigging market.

Intelligent pigging offers broad advantages over traditional pipeline inspection techniques. These advantages include cleaning and inspecting pipelines without stopping its flow, redundance of the requirement for personnel for the inspection, and greater savings on money and time. Hence, a transition is likely to be witnessed from traditional to technologically advanced pigging systems owing to the increasing awareness among the pipeline operators.

There are increasing applications of intelligent pigging in the oil and gas industry, due to the frequent pipeline damages that lead to accidents causing great losses. The increase in cases of gas explosions has further fuelled the intelligent pigging market.

Over the forecast period, the stringent regulations of governments worldwide aimed towards bolstering the safety of major gas utilising industries is expected to drive the market growth for intelligent pigging. In addition, the increasing demand for petroleum, crude oil, and natural gas across the emerging economies is generating a significant demand for intelligent pigging for efficient inspection and cleaning.

Advancements in magnetic flux leakage technology are a driving factor of the intelligent pigging demand. Increasing incorporation of magnetic flux leakage pigs in the oil and gas industry, owing to the increasing efforts by oil producers to reduce the metal loss and to improve the operational efficiency of the processes, is likely to add to the market growth in the forecast period.

At a regional level, North America holds a significant share in the intelligent pigging market. This can be attributed to a high adoption rate for magnetic flux leakage technology, and rising demand for products that offer flexibility. The rapid expansion of the oil and gas industry is further aiding the market in this region. Both natural gas and petroleum are significant energy sources for countries such as the United States, due to which there is an extensive pipeline network that can benefit from intelligent pigging.

Market Segmentation

The intelligent pigging market can be divided on the basis of technology, pipeline type, application, and major regions.

Market Breakup by Technology

• Magnetic Flux Leakage Pigs
• Ultrasonic Pigs
• Caliper Pigs

Market Segmentation by Pipeline Type

• Liquid
• Gas

Market Classification by Application

• Metal Loss/Corrosion Detection
• Geometry Measurement and Bend Detection
• Crack and Leak Detection

Competitive Landscape

This report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the intelligent pigging market companies. Some of the major key players explored in the report are as follows:

• T D Williamson, Inc
• ROSEN Group
• Enduro Pipeline Services, Inc
• Intertek Group plc
• Applus+ Servicios Tecnologicos, SL
• LIN SCAN
• Dexon Technologies PLC

For more information about this report visit https://www.researchandmarkets.com/r/1tztw0

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SOURCE Research and Markets