What Is The Highest Revenue Generating Factor In Intelligent Pigging Market?

Intelligent Pigging Market Highlights:

Intelligent Pigging Market share is expected to exceed USD 800 million by 2027, and the market’s growth momentum will accelerate at a CAGR of 5.2%.

Intelligent pigging is a technique wherein an inspection probe, commonly known as smart pig, is involved in pipeline inspection, measuring pipe wall thickness, and metal loss by direct measurement of the thickness of the pipe wall. This market has various advantages such as it helps in cleaning and inspecting the pipelines without the need to stop the flow of product. It also has the ability to provide a accurate value for local wall thickness whilst being small, lightweight, and easy to mobilize. The key factors driving the growth of the intelligent pigging market is stringent government regulations for pipeline inspections, benefits of intelligent pigging solutions, and concern over the safety of pipelines.

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Report Attribute	Details
Forecast Period	2022 - 2030
Market Growth value	5.2 % CAGR
Revenue forecast in 2022-2030	USD 800 million
Base year for estimation	2021
Historical data	2019 – 2020
Unit	USD Billion, CAGR (2022 – 2030)
Segmentation	By Application, By End-Use, and By Region

Based on technology, the market is segmented as magnetic flux leakage, caliper, and ultrasonic. Magnetic flux leakage segment is leading the market as it is majorly used in both liquid and gas pipelines and does not require any liquid couplant like ultrasonic pigging. Considering the application, the market is segmented as metal loss/corrosion, crack leak detection, and geometry measurement bend detection. Metal loss/corrosion detection application is expected to hold larger share during the forecast period as corrosion detection would help in avoiding pipe corrosion, stained fixtures, and potential odors.

The global intelligent pigging market is expected to grow at ~ 4.89% CAGR during the forecast period.

Market Research Analysis

North America is estimated to hold the largest share during the forecast period

Region wise, North America held the largest market share of the global intelligent pigging market in 2017. North America region has some major players from the oil gas industry and prominent users of inline inspection services for intelligent pigging. The intelligent pigging market would be mainly driven by increasing awareness among pipeline operators about the benefits of maintenance of pipelines and regular inspection. In addition, significant production and exploration of crude oil and gas in Middle East Africa would also have a positive impact on the growth of intelligent pigging market during the forecast period.

Key Players

The key players of the global intelligent pigging market are Baker Hughes (US), Corrosion Control Engineering, (Australia), Rouge Pipeline Process Services (UAE), Penspen (UK), Halfwave AS (Norway), Romstar (Malaysia), Cokebusters (UK), Quest Integrity Group (US), A.Hak Industrial Services (Netherlands), SGS SA (Switzerland), T.D.Williamson (US), Rosen Group (Switzerland), and NDT Global (UAE), among others.

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Scope of the Report

This report provides an in-depth analysis of the global intelligent pigging market, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, and share for North America, Asia-Pacific (APAC), Europe, and Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the intelligent pigging market by its pipeline type, technology, application, and by region.