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The pipeline pigging systems market size is forecast to increase by USD 393.11 million and is estimated to grow at a CAGR of 3.23% between 2023 and 2027. The report includes historic market data from 2017 - 2021. The market is witnessing a growing demand for the development of intelligent pigs, technological advances facilitating pipeline inspection, and the digitalization in pipeline industry.
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The technological advances facilitating pipeline inspection are a primary trend in the pipeline-pigging systems market. The safety of pipelines has been an essential factor for the past few decades in the pipeline industry. Despite ongoing inspections in most of the pipelines, a few of them are unpiggable. Inspections often fail to detect small amounts of metal loss, corrosion, or minute cracks that later lead to oil/gas spills.
However, it often takes months to analyze the huge amounts of data that intelligent pigs will produce once they've scanned the pipelines. The cloud-based technology software can reduce data being generated by converting them into graphs, diagrams, and charts. Technological advances might contribute to the growth of the global pipeline-pigging systems market during the forecast period.
The oil segment is estimated to witness significant growth during the forecast period. Oil pipelines accumulate sediment, wax, scale, corrosive chemicals, and other debris that can impede the flow of oil and reduce pipeline efficiency. In order to ensure optimal flow rates, cleaning pigs are designed to remove all of these substances.
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Oil pipelines contain water, condensate, or other liquids that need to be removed to maintain the quality of the oil and prevent corrosion. Oil pipelines can be exposed to the accumulation of waxes and paraffin in regions with cooler weather conditions, which would prevent adequate flow of oil.
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APAC is estimated to contribute 45% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The demand for pipeline pigging systems from the oil and gas industry is expected to rise during the forecast period, owing to the high demand for energy in developing countries such as China and India. APAC has experienced high oil demand owing to rising consumption in countries such as China, India, Japan, South Korea, and Indonesia. These countries and the rest of the world face an increasing demand for oil, which is putting increased pressure on them to meet future needs. This requires an increase in oil and gas exploration and production (E&P) activities in the region, which will drive the growth of the pipeline pigging systems market in the region during the forecast period.
The demand for oil and gas was adversely impacted in the first half of 2020, owing to the lockdowns imposed in several countries in the region to contain the spread of COVID-19. However, due to widespread COVID-19 vaccination drives across the region, lockdown restrictions were lifted in a large number of nations in the region in 2021, the revival of many industrial and developmental endeavors, which is projected to fuel the regional pipeline pigging systems market expansion throughout the forecast period.
The economic benefits of pipeline transportation are driving growth in the pipeline-pigging systems market. Ensuring that products are safely transported through pipelines toward their destination is a key objective of pipeline transport. Cost efficiency, fewer safety concerns, and employment are a few other primary benefits that are associated with pipeline transportation. These benefit not only oil and gas companies but also end-users.
However, pipeline transportation is an economical method to transport oil and gas products compared with rail and truck. The cost difference would fetch oil and gas companies significant profits. For the transmission of oil and natural gas via pipelines, there is a very small risk. The demand for pipeline-pigging systems will contribute significantly to the growth of the global pipeline-pigging systems market during the forecast period.
The complexity of pigging operations is a major challenge faced by the pipeline pigging systems market. The pipelines come in various shapes, sizes, and geometries which may be difficult for pigging operations. Navigating and inspecting pipelines that have irregular shapes or small diameters requires specialized pigging tools and equipment. The type of product being transported in the pipeline can also impact pigging operations.
Moreover, pipelines that transport multiple products may require specialized pigs to prevent product contamination and ensure effective cleaning and inspection. In order to ensure that the conditions are safe and effective, it can be necessary to apply a custom pigging solution for pressure pipelines or lines with variable flow rates. Thus, the complexity of pigging operations will impede the growth of the market in focus during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Pipeline Pigging Systems Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
3P Services GmbH and Co KG- The company offers pipeline pigging systems such as pipeline inspection services which include magnetic flux leakage, geometric inspection, and ultrasonic inspection.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The pipeline pigging systems market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Pipeline Pigging Systems Market Scope |
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Report Coverage |
Details |
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Page number |
163 |
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Base year |
2022 |
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Historic period |
2017 - 2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 3.23% |
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Market growth 2023-2027 |
USD 393.11 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
2.56 |
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Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 45% |
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Key countries |
US, Canada, China, Russia, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
3P Services GmbH and Co KG, Baker Hughes Co., Dacon Inspection Technologies Co. Ltd., Diamond Edge Services, Eddyfi NDT Inc., Enduro Pipeline Services Inc., ERGIL, GeoCorr LLC, IKM Instrutek AS, International Pipeline Products Ltd., Italmatch Chemicals Spa, NDT Global GmbH and Co. KG, Oil States International Inc., Pigs Unlimited International LLC, Pigtek Ltd., PIPECARE Group AG, ROSEN Swiss AG, Russell NDE Systems Inc., STATS Group, and T.D. Williamson Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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