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Pipeline Pigging Services Market Size

  • Report ID: GMI4654
  • Published Date: Jul 2023
  • Report Format: PDF

Pipeline Pigging Services Market Size

Pipeline Pigging Services Market was valued at USD 3.2 billion in 2023 and is projected to grow at a CAGR of over 1% from 2023 to 2032.

 

Pipeline Pigging Services Market

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The industry has experienced consistent growth in recent years due to increased investments in the development of new energy infrastructure. This surge in investment can be attributed to the rapid expansion of shale production and the ongoing transition towards different forms of natural gas. Furthermore, several regulatory authorities have implemented directives mandating the periodic inspection and cleaning of pipeline infrastructure, which has further contributed to the demand for these services.

 

The geopolitical landscape poses a significant challenge to the energy sector as it has been marked by turmoil and instability in various countries. These geopolitical factors have had a profound impact on energy sector, reshaping pipeline pigging services market dynamics in the past decade. Political instabilities and associated risks have played a crucial role in influencing the stability and vitality of local, regional, and even global energy business. These factors hinder investments in the industry and can lead to disruptions in the supply of energy resources.

 

On the contrary, many emerging economies around the world heavily rely on oil and gas imports to meet their growing energy demands. As a result, pipeline transportation has become a crucial component of their ongoing trading activities. In recent years, pipeline systems have demonstrated their effectiveness and cost-efficiency, surpassing other available alternatives. Studies have shown that the transmission costs for hydrocarbons through pipelines are typically 7 to 8 times lower compared to alternative methods.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The market size of pipeline pigging services reached USD 3.1 billion in 2022 and is anticipated to register CAGR of 1% during 2023 to 2032, owing to emphasis on flow efficiency enhancement.

The intelligent pigging segment is set register 1% growth rate through 2032 as these services involve the use of advanced equipment, such as sensors, to collect diverse data during pipeline inspections.

North America pipeline pigging services sector is poised to grow at a steady pace on account of the recent shale revolution which has led to the significant rise in construction of new oil & gas transportation network.

Baker Hughes Company, Applus+, T.D. Williamson, Inc., ROSEN Group, NDT Global, Altus Intervention, LIN SCAN, CIRCOR International, Inc., Dacon, IKM Testing, Inline Services, LLC, and Halliburton.

Pipeline Pigging Services Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 12
  • Tables & Figures: 355
  • Countries covered: 17
  • Pages: 200
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