by The global Intelligent Pigging Market is estimated to be valued at US$ 852.6 Bn in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Intelligent pigging refers to using in-line inspection tools known as smart pigs or intelligent pigs to inspect and detect anomalies in pipelines transporting oil, gas and other fluids. Smart pigs are inserted into and propelled by the product flow inside the pipeline to perform various non-destructive testing inspections. They help detect and measure corrosion, deformations, cracks and other defects. This ensures safety and integrity of pipelines thereby reducing risk of leaks and environmental impact.
Market key trends:
One of the major trends in the global intelligent pigging market is the increasing deployment of automated inspection pigs. Traditionally pigging required manual intervention and data processing which led to delays. However, recent automated inspection pigs come equipped with advanced sensors, data acquisition systems and analytics capabilities. They autonomously map pipeline anomalies in real-time and transmit data to operators. This has significantly improved inspection efficiency while reducing operational costs. Many pipeline operators are increasingly adopting automated inspection to effectively manage vast pipeline networks spread across large areas.
Segment Analysis
The global intelligent pigging market is segmented into technology, pipeline type, application, and region. Based on technology, the market is divided into magnetic flux leakage, ultrasonic, and caliper pigs. Within this, the ultrasonic segment dominates with over 45% share due to its ability to inspect pipelines internally without interrupting the pipeline flow.
Key Takeaways:
Global Intelligent Pigging Market Size is expected to witness high growth, exhibiting CAGR of 6.5% over the forecast period, due to increasing stringent government regulations concerning pipeline safety and monitoring.
Regional analysis:
North America dominates the global market with over 35% share due to stringent regulations and standards regarding pipeline integrity management in the US and Canada. Asia Pacific is expected to grow at the fastest rate due to increasing pipeline network and rising focus on operational safety of pipelines in emerging economies of China and India.
Key players:
Key players operating in the intelligent pigging market include LIN SCAN, T.D. Williamson, Inc., Baker Hughes Incorporated, GE Oil and Gas, NDT Global, Enduro Pipeline Services, Inc., Petrobras, OMV Group, ConocoPhillips, and Royal Dutch Shell PLC. Baker Hughes holds the largest market share due to its robust portfolio of internal inspection tools and pipeline diagnostics services.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
