Intelligent Pigging Market is Anticipated to Witness High Growth Owing to Rising Implementation of Smart Pigging Technology

 

Intelligent pigging refers to using inline inspection tools known as "smart pigs" or intelligent pigs to inspect and monitor the integrity of oil and gas pipelines from the inside without stopping the product flow or requiring the pipeline to be depressurized. The intelligent pigs are inserted into and propelled by the product flow in the pipeline and collect large volumes of data which is then analyzed for detection of corrosion, cracks, dents, or other defects and irregularities in the pipeline. Intelligent pigging plays a vital role in pipeline integrity management programs as it allows for inspection of long pipelines in a short time without the need for excavation.

The global intelligent pigging market is estimated to be valued at US$ 1,408.3 Bn in 2024 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023 to 2030.

Key Takeaways

Key players operating in the intelligent pigging market are 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. These companies are investing significantly in R&D activities to develop innovative and advanced intelligent pigging solutions.

The growing pipeline network across regions and stringent government regulations regarding pipeline inspection and monitoring are expected to create significant growth opportunities for players in the intelligent pigging market. Various pipeline operators are also implementing advanced intelligent pigs for applications such as pipeline mapping, crack & corrosion monitoring, and geometry tool pigging to ensure operational safety and integrity of pipeline assets.

North American and European pipeline operators are focusing on expanding their pipeline network and implementing condition-based intelligent pigging programs for periodic inspection of pipelines transporting oil & gas over long distances. Rising focus on export of shale gas and oil from USA and Canada via pipeline is further expected to drive the demand for intelligent pigging solutions in these regions.

Market Drivers

One of the key drivers for growth of intelligent pigging market is the increasing implementation of stringent pipeline safety regulations globally, especially in North America and Europe. Regulatory authorities such as PHMSA (Pipeline and Hazardous Materials Safety Administration) in the US have mandated periodic inspection of oil and gas pipelines using in-line inspection techniques to monitor pipeline integrity. This is expected to significantly drive the demand for intelligent pigs and associated services over the forecast period.

Market Restraints

High costs associated with intelligent pigging operations and data analysis can act as a market restraint. Intelligent pigging involves use of complex tools and technologies for inspection. It also requires shut down of pipelines for insertion and removal of pigs. This leads to loss of production time and revenues for pipeline operators. Moreover, specialized skillsets and technologies are required for analysis of huge volumes of inspection data collected, further increasing costs. These factors may limit widespread adoption of intelligent pigging, especially for smaller pipeline network operators.

Segment Analysis

In the intelligent pigging market, the magnetic flux leakage sub-segment dominates the overall market. Magnetic flux leakage pigs uses magnetic particles to detect pipe wall anomalies which help customers inspect pipelines for corrosion, cracks, or dents. They can detect small wall losses and pinpoint defect location which make it suitable for identifying critical integrity issues in oil and gas pipelines. Caliper pigs hold the second largest share as it helps to identify dent/ovality, deformation and measurement of pipe wall and internal corrosion.

Global Analysis

The North America region dominates the intelligent pigging market and is expected to continue its dominance during the forecast period. This is attributed to rising shale gas production activities in countries like the United States. Large pipeline network and aging infrastructure in countries like the United States have increased the demand for pipeline inspection activities. The Asia Pacific region is projected to be the fastest growing market during the forecast period due to rise in energy demand coupled with expansion of oil & gas pipeline network in countries such as China and India.

Comments

Post a Comment

Popular posts from this blog

Nonylphenol Ethoxylate Market Size 2023 | Key Growth Drivers and Latest Opportunities

Image
Nonylphenol Ethoxylate  Nonylphenol ethoxylate (NPE) is a group of nonionic surfactants that are commonly used in a variety of industrial and household applications. They are produced by reacting nonylphenol with ethylene oxide, resulting in a range of products with varying degrees of ethoxylation. NPEs have been used in detergents, cleaning products, and personal care products as a surfactant, emulsifier, and wetting agent. They are also used in industrial applications, such as in the production of textiles, paper, and leather. However, NPEs have been found to be persistent in the environment, and are known to be toxic to aquatic life. They are also known to disrupt the endocrine system of animals, including humans, by mimicking the effects of estrogen. For these reasons, the use of NPEs has been restricted or banned in some countries, including the European Union and Canada. Many manufacturers have switched to using alternative surfactants, such as alcohol ethoxylates, which are cons
Read more

Hydrogen Peroxide Market Unveiled: Exploring Global Trends, Growth Drivers, and Future Prospects

Image
  Hydrogen Peroxide Market Overview Hydrogen peroxide (H₂O₂) is a chemical compound with a variety of industrial and consumer applications. It is a pale blue liquid, commonly used as a disinfectant, bleaching agent, and oxidizer. The hydrogen peroxide market is driven by its extensive use across various sectors, including healthcare, paper and pulp, textiles, food processing, electronics, and water treatment. Market Drivers Healthcare Industry:  Hydrogen peroxide is widely used as a disinfectant and antiseptic in the healthcare sector. It is employed for cleaning wounds, sterilizing medical equipment, and as a mouthwash. The ongoing emphasis on healthcare and hygiene has contributed to the  hydrogen peroxide market growth . Paper and Pulp Industry:  Hydrogen peroxide is utilized as a bleaching agent in the paper and pulp industry. It helps to whiten paper products and remove impurities, contributing to the production of high-quality paper. Textile Industry:  In the textile sector, hydr
Read more

Polyferric Sulfate Market Analysis: Growth, Trends, and Opportunities

Image
Polyferric sulfate, also known as PFS, is a chemical compound that finds widespread application in various industries. This inorganic coagulant is primarily utilized for water treatment and purification processes. It is an iron-based coagulant that is highly effective in removing impurities, such as suspended solids, organic matter, and contaminants, from water sources. Polyferric sulfate is known for its superior coagulation and flocculation properties, making it a preferred choice for treating both industrial and municipal water supplies. The market for polyferric sulfate has witnessed significant growth over the years due to increasing concerns about water quality and the need for efficient water treatment solutions. As populations grow, industrial activities expand, and environmental regulations become more stringent, the demand for reliable water treatment chemicals like polyferric sulfate has surged. This has led to a robust market expansion, driven by the critical role that PFS
Read more