Intelligent Pigging System Market New Avenues and Industry Analysis by 2017-2023
According to the new research report "Intelligent Pigging Market by Technology (Magnetic Flux Leakage, Ultrasonic, Caliper), Application (Metal Loss/Corrosion Detection, Geometry Measurement & Bend Detection, Crack & Leak Detection), Pipeline Type (Gas, Liquid) - Global Forecast to 2023", The intelligent pigging market is estimated to grow from USD 570.8 Million in 2018 to USD 717.9 Million by 2023, at a CAGR of 4.69% between 2018 and 2023.
The objective of the report is to provide a detailed analysis of the intelligent pigging market based on technology, application, pipeline type, and geography. The report provides detailed information regarding the major factors influencing the growth of the intelligent pigging market. The report also provides a detailed overview of the key players in the intelligent pigging market.
The research methodology used to estimate and forecast the intelligent pigging market begins with capturing data on key vendor revenues through secondary research such as IEEE publication, industrial automation conferences and exhibitions, and leading players’ newsletters. Vendor offerings are also taken into consideration to determine the market segmentation. The bottom-up procedure has been employed to arrive at the overall size of the global intelligent pigging market from the revenue of key players. After arriving at the overall market size, the total market has been split into several segments and subsegments that have been verified through primary research by conducting extensive interviews with people holding key positions such as CEOs, VPs, directors, and executives.
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Magnetic flux leakage (MFL) technology is expected to hold largest market size during 2018–2023
Intelligent pigging based on smart MFL technology is more preferred as it can be used in both liquid and gas pipelines and does not require any liquid couplant, like ultrasonic pigging. MFL pigs can detect and measure metal loss or corrosion and cracks and weld defects even in thin-walled pipelines, while ultrasonic pigs fail to identify and measure thin-walled pipelines accurately.
Market for metal loss/corrosion detection application is expected to grow at highest CAGR between 2018 and 2023
Pipe corrosion can damage the quality of the substance that is carried, and it can result in stained fixtures and potential odors; hence, intelligent pigging will be in demand for the detection of pipeline corrosion. Thus, with more risks associated with corrosion of metals, its detection application is expected to grow during the forecast period.
North America is expected to hold largest market size, in terms of value, owing to huge pipeline infrastructure
North America has some major players from the oil & gas industry and prominent users of inline inspection services for intelligent pigging. Natural gas and petroleum are the 2 biggest sources of energy in the US. North America is investing significantly in oil and gas pipeline projects to fulfill the growing demand for oil and gas.
Baker Hughes (US), ROSEN Group (Germany), T.D. Williamson (US), Onstream Pipeline Inspection (Canada), NDT Global (Ireland), Enduro Pipeline Services (US), Intertek Group (UK), Dacon Inspection Services (Thailand), LIN SCAN (UAE), and Applus (Spain) are some major companies in this market.
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