Pipeline Pigging Services Market to Grow with a CAGR of 7.19% through 2029
Increasing
demand for energy infrastructure development and stringent regulatory
requirements for pipeline integrity are likely to drive the market in the
forecast period.
According to
TechSci Research report, “Pipeline Pigging Services Market – Global Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2029”,
the Global Pipeline Pigging Services Market is experiencing a surge in demand in
the forecast period.
One significant driver propelling the
global Pipeline Pigging Services market is the growing emphasis on preventive
maintenance and asset integrity within the energy sector. As pipelines age and
face challenges such as corrosion, erosion, and material degradation, there is
a heightened awareness of the importance of proactive measures to ensure the
long-term reliability of these critical infrastructures. Pipeline operators are
increasingly adopting preventive maintenance strategies, wherein pigging services
play a pivotal role. Pipeline pigging services enable
operators to conduct regular inspections, identify potential issues, and
address them before they escalate into major problems. The deployment of
intelligent pigs equipped with advanced sensors allows for real-time data collection,
facilitating the early detection of corrosion, cracks, or other anomalies. This
preventive approach not only extends the lifespan of pipelines but also
minimizes the likelihood of unexpected disruptions, ensuring a more secure and
efficient energy transportation network.
The global Pipeline Pigging Services
market is significantly driven by the expansion of shale gas and oil
exploration activities. The exploration and extraction of hydrocarbons from
unconventional reserves, such as shale formations, have witnessed remarkable
growth in recent years. As these exploration activities intensify, there is a
parallel increase in the demand for reliable pipeline infrastructure to
transport the extracted resources to processing facilities and end-users. The expansion of shale gas and oil
exploration brings about the need for extensive pipeline networks, creating
opportunities for the Pipeline Pigging Services market. Pipelines in these
environments often encounter unique challenges, including the presence of
abrasive substances and varying operating conditions. Pigging services,
equipped to handle such conditions, become crucial for maintaining the
integrity and efficiency of these pipelines. The demand for specialized pigging
solutions tailored to the challenges of unconventional resource extraction
drives growth in the market, positioning it as an essential partner in the
evolving landscape of global energy exploration.
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The Global Pipeline
Pigging Services Market is segmented into pigging type, application, pipeline
fluid type and region.
Based on Application,
The Metal Loss/Corrosion Detection segment held the largest Market share in
2023. Metal loss and corrosion are major threats to pipeline integrity, and
early detection is crucial for preventing catastrophic failures. Metal
Loss/Corrosion Detection technologies, such as Magnetic Flux Leakage (MFL) and
other advanced inspection methods, provide accurate and detailed information
about the condition of the pipeline, allowing operators to address corrosion
issues before they lead to structural failures. Pipeline
failures due to corrosion can have severe safety and environmental
consequences. Governments and regulatory bodies globally enforce strict
standards to ensure the safety of pipeline operations. Metal Loss/Corrosion
Detection helps operators comply with these standards, minimizing the risk of
incidents that could harm personnel, communities, and the environment.
Metal loss, if
left unchecked, can compromise the structural integrity of pipelines, leading
to reduced lifespan and increased maintenance costs. Metal Loss/Corrosion
Detection allows operators to assess the extent of corrosion, plan targeted
maintenance, and extend the operational life of pipelines, contributing to the
efficient use of infrastructure. Detecting and
addressing metal loss and corrosion issues early in the pipeline's life cycle
is more cost-effective than dealing with emergency repairs or replacements.
Metal Loss/Corrosion Detection supports proactive maintenance strategies,
reducing operational costs and optimizing budget allocations for pipeline
operators. Compliance with
regulatory standards is a key driver in the pipeline industry. Metal
Loss/Corrosion Detection helps pipeline operators meet and exceed regulatory
requirements by providing accurate and reliable data on the condition of
pipelines. This proactive approach ensures alignment with safety and
environmental standards.
Continuous
advancements in technology have enhanced the capabilities of Metal
Loss/Corrosion Detection methods. From traditional MFL to advanced smart
pigging technologies, these methods now offer greater accuracy, sensitivity,
and coverage, making them even more attractive for pipeline operators seeking
comprehensive corrosion assessments. Metal
Loss/Corrosion Detection methods, especially MFL, have been in use for several
decades and have a proven track record. Their reliability and effectiveness in
detecting corrosion anomalies have been validated through extensive industry
experience, contributing to their widespread adoption.
Major companies
operating in the Global Pipeline Pigging Services Market are:
- Rosen Group
- T.D. Williamson, Inc.
- Romstar Sdn. Bhd.
- Dacon Inspection Services Co Ltd.
- Baker Hughes Company
- Enduro Pipeline Services, Inc.
- NDT Global Services Ltd.
- Onstream Pipeline Inspection Services Inc.
- IKM Gruppen AS
- Penspen Limited
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“The Global Pipeline
Pigging Services Market is expected to rise in the upcoming years and register a
significant CAGR during the forecast period. The global Pipeline Pigging Services market is propelled by
a strategic shift towards proactive pipeline maintenance within the energy
sector. Increasingly, pipeline operators recognize the necessity of preventive
measures to ensure the sustained integrity and efficiency of their
infrastructure. By leveraging pigging services, operators can conduct routine
inspections, identify potential issues early on, and undertake maintenance
measures, minimizing the risk of disruptions. The adoption of intelligent
pigging technologies further enhances real-time data collection, offering a
proactive approach that not only extends the lifespan of pipelines but also contributes
to a more secure and dependable energy transportation network. Therefore,
the Market of Pipeline Pigging Services is expected to boost in the upcoming
years.,” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Pipeline
Pigging Services Market - Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2019-2029 Segmented By Pigging Type (Magnetic Flux Leakage (MFL)
Pigging, Ultrasonic Test Pigging, Utility Pigging, Caliper Pigging and Others),
By Application (Crack and Leakage Detection, Metal Loss/Corrosion Detection,
Geometry Measurement and Bend Detection and Others), By Pipeline Fluid Type
(Oil and Gas), By Region, By Competition”, has evaluated
the future growth potential of Global Pipeline Pigging Services Market and
provides statistics & information on Market size, structure and future Market
growth. The report intends to provide cutting-edge Market intelligence and help
decision-makers make sound investment decisions., The report also identifies
and analyzes the emerging trends along with essential drivers, challenges, and
opportunities in the Global Pipeline Pigging Services Market.
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