Pipeline Pigging Services Market size to exceed $2.4bn by 2026
Published Date: May 11, 2020 Authors: Ankit Gupta, Aditya Singh Bais
Pipeline Pigging Services Market size is expected to surpass USD 2.4 Billion by 2026, as reported in the latest study by Global Market Insights, Inc.
Pipeline pigging services generally involves the transportation of a device or combination of devices (sphere, scraper of rigid or flexible plastic) through a pipeline for the purpose of inspection, cleaning, or measurement of oil & gas pipeline network. The ongoing investments toward development of oil & gas pipeline infrastructure will stimulate the market size of pipeline pigging services. Recently, the global economy has been hit by an outbreak of the novel coronavirus, responsible COVID-19 pandemic. As a result, the pipeline pigging services industry is witnessing several operational constraints in performing the service activities; however, the operations will return to normal as the impact of coronavirus weakens.
Growing measures to improve the flow dynamics of pipeline infrastructure will fuel the normal pipeline pigging services market growth
Maintaining optimal flow dynamics of an oil & gas pipeline is an essential factor which can reduce the transportation cost and improve flow efficiency. Normal pipeline pigging services are used to remove debris from a pipeline and to optimize the product flow. In this service, a pig is shoved into a pipeline which is then propelled by the pressure flow of oil or gas. The normal pipeline pigging services can evaluate only one aspect of a pipeline at a time. Easy availability and affordability are some key factors which will augment the pipeline pigging services industry demand across the globe.
Browse key industry insights spread across 270 pages with 364 market data tables & 28 figures & charts from the report, “Global Pipeline Pigging Services Market Size By Service (Intelligent Pigging, Normal Pigging), By Application (Metal Loss/Corrosion Detection, Internal Cleaning, Crack & Leakage Detection, Geometry Measurement & Bend Detection), By End Use (Oil, Gas), Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 – 2026”in detail along with the table of contents:
Rising efforts to reduce spillage in a pipeline is driving the market statistics crack & leakage detection
The growing regulatory focus toward minimizing oil spill accidents across the oil & gas pipeline infrastructure is enhancing the market demand for pipeline pigging services for crack & leakage detection applications. The operation uses Pressure Difference, Eddy Current, Pulsed Eddy Current, and Ultrasound technologies for detection and sizing of leaks and cracks in a pipeline, which is beneficial to reduce environmental impact of oil & gas spillage. Moreover, pipeline pigging services market will witness a significant escalation on account of reduction in financial and environmental risks by adoption of pigging services for crack & leakage detection.
Growing market demand for crude oil across the globe will propel the industry growth
The development of new crude transportation lines for oil transportation from a wellhead to gathering and processing facilities and further to oil refineries will proliferate the market demand for pipeline pigging services. The rising production of oil has led to the construction of new oil pipelines and expansion of existing lines, globally. For instance, as per the Pipeline & Gas Journal 2020 statistics, a total of more than 13,000 kms of oil pipelines was planned and constructed in 2019, globally. Furthermore, increasing exploitation activities of shale oil reservoirs coupled with growing interregional oil trades will complement the growth of the pipeline pigging services market.
Increasing investments for the development of gas pipeline infrastructure will drive the Europe market share
The Europe pipeline pigging services industry will witness moderate growth on account of growing consumption of natural gas coupled with the construction of new gas pipeline network. Several countries in the region are strategically focusing on developing a sustainable and economical pipeline network for transporting the natural gas and other products. For instance, Germany and Russia has joined forces to develop 1,225 Km gas pipeline network from Kingisepp in Russia to Greifswald in Germany. This Nord Stream 2 project will create new growth opportunities for the market of inspection services in the region. Furthermore, the rising adoption of intelligent pigging for pipeline inspection to enhance the transmission efficiency will further proliferate industry growth of pipeline pigging services in the forthcoming years.
Key market players operating across pipeline pigging services market comprise of Royal Dutch Shell PLC, Applus+, Baker Hughes, a GE company LLC, TD Williamson, Inc., ROSEN Group, NDT Global GmbH & Co. KG, CIRCOR International, Inc., ConocoPhillips, Dacon Inspection Technologies co., Ltd., and China National Petroleum Corporation (CNPC) Inline Services, LLC, amongst others. New technological innovations and acquisitions are some of the prominent strategies followed by leading market players to enhance their market share and customer base globally.