The Intelligent Pipeline Pigging Market size is projected to reach US$ 1,244.2 million by 2031 from US$ 782.3 million in 2023. The market is expected to register a CAGR of 6.0% in 2023–2031. Increasing government policies and measures towards pipeline infrastructure is a major driving factor for the intelligent pipeline pegging market globally.
The intelligent pipeline pegging services involve the utilization of smart equipment, such as advanced sensors, for collecting various information at the time of pipeline inspection. The overall process of pipeline pegging primarily helps in mitigating challenges like pipeline leakage, corrosion, and other issues in the inner walls of pipelines among others. The process of intelligent pipeline pegging not only reduces the chances of fatal issues but also facilitates operational efficiency.
The intelligent pipeline pegging helps the plant owners understand the need for pipeline maintenance and aids them in making informed decisions regarding the overall pipeline operation management. Advanced maintenance and cleaning services are a major part of the intelligent pipeline pegging services. Growing number of oil fields and gas plants are acting as major driving factors for the intelligent pipeline pegging market.
The growing number of oil and gas plants is acting as a major driver for the intelligent pipeline pegging market. The oil and gas exploration & production industry is rapidly growing as it has high demand in the manufacturing, construction, and industrial sectors. The rising crude oil production facilities and the increasing number of offshore oil & gas rigs in various countries, such as Saudi Arabia, China, Japan, Germany, and France, are having a positive impact on the intelligent pipeline pigging market.
The evolving trade scenarios between various nations and regions for oil and gas are anticipated to provide positive opportunities for the market over the forecast period. Ongoing market trends toward discovering unconventional oil and gas resources and strong interregional trade agreements between countries are major growth opportunities for the intelligent pipeline pigging market.
Key segments that contributed to the derivation of the intelligent pipeline pigging market analysis are application, technology, and end user.
The geographic scope of the Intelligent Pipeline Pigging Market report is mainly divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America.
North America dominated the intelligent pipeline pigging market in 2023. The North America region includes the US, Canada, and Mexico. Strengthening activities in the oil and gas sector in terms of exploration and production are acting as major driving factors for the intelligent pipeline pigging market in North America. Additionally, the rising application of smart equipment, such as sensors for identifying and locating the crack or leakage that requires maintenance, is also fueling the development of the market in North America. The magnetic flux leakage technology is primarily used for identifying metal loss or corrosion detection, which is leading the market in North America. Growing shale gas exploration and production, along with offshore oil and gas exploration activities, are estimated to propel the growth of the market in North America over the forecast period.
The regional trends and factors influencing the Intelligent Pipeline Pigging Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Intelligent Pipeline Pigging Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 782.3 Million |
| Market Size by 2031 | US$ 1,244.2 Million |
| Global CAGR (2023 - 2031) | 6.0% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Application
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Intelligent Pipeline Pigging Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Intelligent Pipeline Pigging Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The Intelligent Pipeline Pigging Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for Intelligent Pipeline Pigging Market and strategies:
The “Intelligent Pipeline Pigging Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas: