Intelligent Pigging Market to grow by USD 211.13 million from 2022 to 2027 | North America to account for 48% of market growth- Technavio

NEW YORK, Oct. 19, 2023 /PRNewswire/ -- The intelligent pigging market size is expected to grow by USD 211.13 million from 2022 to 2027. In addition, the momentum of the market will be progressing at a CAGR of  5.41% during the forecast period, according to Technavio Research. The market is segmented by application (Gas and Oil), technology (Magnetic flux leakage, Ultrasonic, and Caliper), and geography (North America, Europe, APAC, Middle East and Africa, and South America). Additional applications of intelligent pigging over traditional pigging are notably driving the intelligent pigging market. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Read Free PDF Sample Report

Key Segment Analysis

• The gas segment is estimated to witness significant growth during the forecast period. One of the main factors contributing to the growth of the natural gas pipeline segment is the increasing availability of liquefied natural gas and shale gas. With several pipeline projects planned for the coming years, the construction of natural gas pipelines is expected to increase.

To know additional highlights and key points on various market segments and their impact in coming years, View Free PDF Sample Report.

Geographical Market Analysis 

• North America is estimated to account for 48% of the global market during the forecast period. North America is a significant contributor to the global intelligent pigging market, with the US leading the way due to the construction of oil and gas pipelines in the region. In 2019 and 2020, several oil and gas pipelines were planned to connect consumers and export terminals in the Gulf of Mexico coastal areas with the Permian Basin. The oil and gas industry in Texas has been thriving due to the rapid entry of pipelines into service. One of the longest upcoming pipeline projects is the Jupiter oil pipeline, with a proposed length of 1,094 km and expected completion between 2021 and 2025. These developments are expected to drive market growth in North America during the forecast period.

Company Insights 
The intelligent pigging market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market's competitive landscape and offers information on several market companies, including Applus Services Technologies SL, Baker Hughes Co., Dacon Inspection Technologies Co. Ltd., Dar Al Handasah Consultants Shair and Partners Holdings Ltd., Enduro Pipeline Services Inc., GeoCorr LLC, i2i Pipelines, Intertek Group Plc, Mistras Group Inc., Naftoserwis Sp z o o, NDT Global GmbH and Co. KG, Pigtek Ltd., PIPECARE Group AG, Romstar SDN BHD, ROSEN Swiss AG, Russell NDE Systems Inc., SGS SA, T.D. Williamson Inc., Xylem Inc., and China National Petroleum Corp.

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The subsea umbilicals, risers, and flow lines (SURF) market size is estimated to grow at a CAGR of 10.7% between 2022 and 2027. The subsea umbilicals, risers, and flow lines (SURF) market size is forecast to increase by USD 5.2 billion. 

The pipeline integrity management market share is expected to increase by USD 2.08 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.36%.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Application 

Market Segmentation by Technology 

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio