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Pipeline Pigging Services Market Is Projected To Register A Healthy CAGR Of 5.7% By 2025: Grand View Research Inc.

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Pipeline Pigging Services Market Is Projected To Register A Healthy CAGR Of 5.7% By 2025: Grand View Research Inc.

February 26
11:07 2020
Pipeline Pigging Services Market Is Projected To Register A Healthy CAGR Of 5.7% By 2025: Grand View Research Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, Increasing government regulation for safety of pipeline and energy infrastructure coupled with technological advancement in oil and gas sector is likely to strengthen the growth for the pipeline pigging services market.

According to a report, “Pipeline Pigging Services Market Size, Share & Trends Analysis Report By Service, By Application (Metal Loss/Corrosion Detection, Crack & Leakage Detection), By End Use (Oil, Gas), By Region, And Segment Forecasts, 2019 – 2025”, published by Grand View Research, Inc.,The global pipeline pigging services market size is expected to reach USD 14.2 Billion by 2025, expanding at a CAGR of 5.7%, according to a new report by Grand View Research, Inc. Increasing government regulation for safety of pipeline and energy infrastructure coupled with technological advancement in oil and gas sector is likely to strengthen the growth for the market.

Intelligent pigging aids in cleaning pipelines and inspection and collection of data without obstructing the flow of the product. Various technologies such as Magnetic Flux Leakage (MFL), Ultrasonic Testing Intelligent Pigging, and Caliper Pigging, which are also collectively termed as non-destructive testing technologies, are used to detect the pitting and corrosion in oil and gas pipeline.

MFL can be used for both gas and liquid pipeline maintenance services. In comparison to Ultrasonic Test Pigging technology, MFL technology has an advantage as it can identify and measure corrosion and metal loss even in thin-walled pipelines, while ultrasonic test pigging technology is ineffective in such situations.

Some of the significant industry participants include Rosen Group; T.D. Williamson, Inc; NDT Global Services Ltd.; Baker Hughes; Applus; Lin Scan; Enduro Pipeline Services; Intertek Group; and Enduro Pipeline Services.

Caliper Pigging can also be used in the most challenging environments to identify the size of the deformations that can affect the integrity of pipes. They have relatively limited use as compared to MFL technology and Ultrasonic Test Pigging technology, owing to limited adoption in the current business scenario.

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The corrosion detection application segment accounted for the largest market share and is expected to be fastest growing segment with a CAGR of 6.6% over the forecast period. Corrosion is the primary problem affecting the oil and gas pipeline system in most of the cases. In-line inspection intelligent pigs such as corrosion detection pigs are used to detect and characterize metal loss caused by corrosion and cracking.

Asia Pacific market is forecasted to witness substantial growth and was valued at USD 1.3 billion in 2018 on account of increasing oil and gas distribution network in emerging nations. China occupies the largest market share in the region and is projected to witness highest CAGR during the forecast period. According to the National Development and Reform Commission, China’s oil and gas distribution network is expected to reach 240,000 kilometers by 2025, owing to the rapidly growing energy demand in the country, coupled with shift in the preference of the people to use cleaner fuel like natural gas instead of coal in order to meet environmental protection goals

U.S. pipeline pigging services market

Further key findings from the report suggest:

  • Intelligent pigging accounted for the largest market share in service segment with USD 5.5 billion in 2018. Intelligent pigging which uses smart pigs is capable of carrying advanced inspection activities to gather important data such as location of corrosion or cracks or irregularities on the inner walls of the pipe in addition to just cleaning of the pipes

  • The gas end use segment accounted for the market value of USD 6.3 billion in 2018 and is projected to exhibit highest CAGR during the forecast period. For gas pipeline owners pigging service is one of the essential maintenance services to be conducted parodically to maintain the integrity of the pipeline in the long run

  • There is increase in gas distribution network owing to the rise in production from offshore gas fields on account of technological advancements in the industry. Ongoing initiatives to improve the inadequate gas transmission and distribution infrastructure in order to facilitate the cross border and domestic trade will drive the construction activities for gas distribution, which will eventually drive the pipeline pigging services market.

End Use Insights

The oil segment was valued at around USD 3.2 million in 2018 owing to the deployment of pipes for crude oil transportation from wellhead to processing and gathering facilities and further to refineries and tanker loading facilities. Global crude oil production rose by 2% in 2019 as compared to the 1.5% rise in 2018. Production boost will result in increased oil pipeline usage thereby stimulating the demand for pipeline pigging services.

Global pipeline pigging services market

 Gas pipeline pegging accounted for the fastest growing industry segment with a CAGR of 6.5% over the forecast timeframe. Natural gas transportation from producing regions to consumption regions is majorly done through an extensive network. Moreover, global natural gas production increased by 5.2% in 2018, thereby boosting the demand. Major countries including U.S., Russia, Canada, and China account for the longest gas pipelines with U.S. occupying 65% of the total global length. Furthermore, advancements in intelligent pigging technology such as electro-magnetic acoustic transducer locating cracks in gas lines is likely to enhance the market adoption of pipeline pegging services over the forecast period.

Have Any Query? Ask Our Experts for More Details on Report: https://www.grandviewresearch.com/inquiry/6825/ibb

Grand View Research has segmented the global pipeline pigging services market on the basis of service, application, end use, and region:

Pipeline Pigging Services Outlook (Revenue, USD Million, 2014 – 2025)

  • Pigging

  • Intelligent Pigging

Pipeline Pigging Services Application Outlook (Revenue, USD Million, 2014 – 2025)

  • Metal Loss / Corrosion Detection

  • Crack & Leakage Detection

  • Geometry Measurement & Bend Detection

Pipeline Pigging Services End Use Outlook (Revenue, USD Million, 2014 – 2025)

  • Oil

  • Gas

Pipeline Pigging Services Regional Outlook (Revenue, USD Million, 2014 – 2025)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Russia

    • Germany

    • U.K.

    • France

  • Asia Pacific

    • China

    • India

    • Australia

  • Central & South America

    • Brazil

    • Argentina

  • Middle East and Africa

    • UAE

    • Saudi Arabia

    • Iran

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
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Website: https://www.grandviewresearch.com/industry-analysis/pipeline-pigging-services-market

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