Intelligent Pipeline Pigging Market Growth Report | 2021 to 2031
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.
Intelligent Pipeline Pigging Market Analysis
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.
Intelligent Pipeline Pigging Market Overview
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.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Intelligent Pipeline Pigging Market: Strategic Insights
Market Size Value in US$ 494.4 Million in 2017 Market Size Value by US$ 781.3 Million by 2025 Growth rate CAGR of 5.3% from 2018-2025 Forecast Period 2018-2025 Base Year 2018
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Intelligent Pipeline Pigging Market: Strategic Insights
| Market Size Value in | US$ 494.4 Million in 2017 |
| Market Size Value by | US$ 781.3 Million by 2025 |
| Growth rate | CAGR of 5.3% from 2018-2025 |
| Forecast Period | 2018-2025 |
| Base Year | 2018 |
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Intelligent Pipeline Pigging Market Drivers and Opportunities
Increasing Number of Oil and Gas Plants is Expected to be the Prime Driver for Intelligent Pipeline Pigging 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.
Strong Interregional Trade Dynamics
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.
Intelligent Pipeline Pigging Market Report Segmentation Analysis
Key segments that contributed to the derivation of the intelligent pipeline pigging market analysis are application, technology, and end user.
- Based on application, the intelligent pipeline pigging market has been divided into metal loss/ corrosion detection, geometry & bend detection, crack & leak detection, and others. Metal loss/ corrosion detection held a larger market share in 2023.
- In terms of technology, the market has been segmented into ultrasonic pigging and magnetic flux leakage pigging. The magnetic flux leakage pigging segment dominated the market in 2023.
- In terms of end user, the market has been segmented into chemical, oil, gas, and others. The gas segment dominated the market in 2023.
Intelligent Pipeline Pigging Market Share Analysis by Geography
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.
Intelligent Pipeline Pigging Market Report Scope
Intelligent Pipeline Pigging Market News and Recent Developments
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:
- On September 2023, T.D. Williamson (TDW) announced its achievement in pipeline safety and efficiency. The company has received full ATEX Zone 1 certification for its Smart Plug in-line isolation tool. (Source: TDW, Press Release/Company Website/Newsletter)
- On 2022, Baker Hughes announced that it restructured its organization to accelerate its strategic transformation. (Source: Baker Huges, Press Release/Company Website/Newsletter)
Intelligent Pipeline Pigging Market Report Coverage and Deliverables
The “Intelligent Pipeline Pigging Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles with SWOT analysis
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Application , Technology and End-users
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Get Free Sample For