Newark, NJ, May 17, 2022 (GLOBE NEWSWIRE) — As per the report published by Fior Markets, the global intelligent pigging system market is expected to grow from USD 604.28 million in 2019 to USD 863.31 million by 2027, at a CAGR of 4.56% during the forecast period 2020-2027. North America currently holds the largest market share. The reason for the growth of the market in North America has increased consumption of fuels like petroleum, diesel and natural gas and strict regulatory guidelines for regular inspection of pipelines.
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Key players of intelligent pigging system market are Enduro Pipeline Services, NDT Global, Onstream Pipeline Inspection, Lin Scan, Dacon Inspection Services, Rosen Group, Baker Hughes, Intertek Group, T.D. Williamson and Applus. Many of the data analytics firms are joining up with the manufacturers. Also, some of the companies are also keen to adapt to artificial intelligence for advancing their product technically.
The pipeline type segments include gas and liquid. Gas pipelines are the dominant sub-segment. The development of the gas and oil industries has enabled technological advancements. The application of gas has increased over the years. It is extensively used as an energy source in industrial as well as domestic purposes. The technology segment includes magnetic flux leakage, ultrasonic and calliper. Among these, magnetic flux leakage holds the maximum market share. It can be used in liquid pipelines as well as gas pipelines. It can investigate for any metal loss by searching for corrosions. It can effectively work in thin-walled pipelines. The application segment includes crack and leak detection, metal loss corrosion, detection, geometry measurement and bends detection. Intelligent pigging system is widely used for metal detection and corrosion. Corrosion can lead to massive disasters, thus regular inspection of the pipeline. Thus, the increased risk of corrosion and metal loss has increased the demand of intelligent pigging system market.
Intelligent pigging is a more advanced technique. These smart pig devices provide other services in addition to cleaning. They are beneficial for gathering information and identifying any defects inside the pipeline. It notifies about the presence of any corrosion or any crack in the inside wall. They use ultrasonic testing and magnetic flux leakage for inspection of irregularities. Intelligent pigging does not interrupt the flow of material in the pipeline. The most attracting feature is that the smart pig does not need to necessarily go through the entire length of the pipe for a complete inspection. These are vital in the transportation of the flammable or explosive materials as they are used to check any leakage in the pipelines. It also helps to identify the areas which need repair or replacement. Thus, increasing the usability of the pipelines. The increased dependency on pipelines due to the growing energy infrastructure has enabled the need of government regulations. Therefore, there is a demand for a more advance technology. Many of the countries have adopted to intelligent pigging system.
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About the report:
The global intelligent pigging system market is analysed on the basis of value (USD Million). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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