Press Release

Gas sector was the dominant segment with a largest market share in the global Magnetic Flux Leakage Pigs market in 2023.


According to TechSci Research report, “Global Magnetic Flux Leakage Pigs Market - Global Industry Size, Share, Trends, Opportunity, and Forecast 2019-2029, The Global Magnetic Flux Leakage Pigs Market stood at USD 464.08 Million in 2023 and is expected to register a CAGR of 5.03% during the forecast period. The global demand for energy continues to rise, driven by population growth, urbanization, and industrialization. As a result, there is an increased need for reliable and efficient transportation of oil, natural gas, and other energy resources. Pipeline pigs play a crucial role in maintaining the integrity and functionality of the extensive pipeline networks that facilitate this energy transportation. The global push for sustainable energy solutions has led to the integration of renewable energy sources into the energy mix. The development of renewable energy projects often involves the construction of new pipelines for the transportation of energy resources. Pipeline pigs are essential for the maintenance and integrity of these pipelines, supporting the growth of the global market. Countries worldwide are investing in the development and expansion of critical infrastructure, including pipelines, to meet their energy needs. Infrastructure development projects contribute to the growth of pipeline networks, creating a sustained demand for pipeline pigging services globally.

Browse over 162 market data Figures spread through 238 Pages and an in-depth TOC on the "Global MagneticFlux Leakage Pigs Market.”

The North America Magnetic Flux Leakage Pigs Market stood at USD 3,816.54 million in 2023 and is expected to register a CAGR of 4.54% during the forecast period.

North America, particularly the United States, has undergone a shale revolution, leading to a significant increase in oil and gas production. The exploration and extraction of resources from shale formations contribute to the expansion of pipeline networks. The growth in production activities drives the demand for pipeline pigs for inspection, cleaning, and maintenance purposes. The development of natural gas resources, including those from shale formations, has led to the construction of natural gas pipelines. As North America transitions to cleaner energy sources, the demand for natural gas infrastructure grows, boosting the need for pipeline pigging services. The region actively engages in cross-border energy trade with Canada and Mexico. Maintaining and inspecting pipelines that connect to neighboring countries contribute to the demand for pipeline pigging services, ensuring the reliability of cross-border energy transportation. The North America Magnetic Flux Leakage Pigs Market stood at USD 3,816.54 million in 2023 and is expected to register a CAGR of 4.54% during the forecast period.

North America, particularly the United States, has undergone a shale revolution, leading to a significant increase in oil and gas production. The exploration and extraction of resources from shale formations contribute to the expansion of pipeline networks. The growth in production activities drives the demand for pipeline pigs for inspection, cleaning, and maintenance purposes. The development of natural gas resources, including those from shale formations, has led to the construction of natural gas pipelines. As North America transitions to cleaner energy sources, the demand for natural gas infrastructure grows, boosting the need for pipeline pigging services.

The region actively engages in cross-border energy trade with Canada and Mexico. Maintaining and inspecting pipelines that connect to neighboring countries contribute to the demand for pipeline pigging services, ensuring the reliability of cross-border energy transportation.

The Europe & CIS Magnetic Flux Leakage Pigs Market stood at USD 3,369.53 million in 2023 and is expected to register a CAGR of 5.69% during the forecast period. Europe has been at the forefront of the global transition towards renewable energy sources. The development of renewable energy projects, such as wind and solar farms, often involves the construction of new pipelines for energy transportation. Pipeline pigs play a crucial role in maintaining the integrity and efficiency of these pipelines, supporting the growth of the Magnetic Flux Leakage Pigs Market. Some CIS countries, such as Russia, are major players in the global oil and gas industry. Ongoing exploration and production activities contribute to the growth of pipeline networks. The transportation of oil and gas resources requires regular maintenance, inspection, and cleaning, driving the demand for pipeline pigging services. Governments in the region are implementing initiatives to enhance energy security, promote sustainability, and comply with environmental regulations. These initiatives drive investments in critical infrastructure, including pipelines, and contribute to the growth of the Magnetic Flux Leakage Pigs Market by ensuring regular maintenance and inspection activities.

Key market players in the global Magnetic Flux Leakage Pigs market are: -

  • ROSEN Group
  • T.D. Williamson, Inc.
  • NDT Global Services Ltd
  • Dexon Technology PLC
  • Enduro Pipeline Services, Inc.
  • Baker Hughes Company
  • Penspen Limited
  • Romstar Sdn. Bhd.
  • Diamond Edge Services
  • International Pipeline Products Limited


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“The Metal Loss/Corrosion Detection segment accounted for the largest share of 49.48% in the Global Magnetic Flux Leakage Pigs market in 2023. This segment is expected to maintain its market dominance over the next five years. The substantial growth of the metal loss/corrosion detection segment can be attributed to the increasing awareness of the risks associated with metal loss and corrosion, coupled with the availability of new pigging technologies that can accurately detect and measure these issues. Corrosion is one of the major issues affecting the operability of oil and gas pipeline systems. As a result, the majority of vendors use pigging as a preliminary step for pipeline inspection. To carry out the inspection, vendors utilize various technologies such as Magnetic Flux Leakage (MFL) and Ultrasonic Testing (UT), with the help of devices like intelligent pigs, which aid in corrosion detection for oil and gas pipelines. These multi-channel tools, equipped with transducers, allow for internal pipe wall scanning and ensure efficient data collection. Top of Form

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” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

Magnetic Flux Leakage Pigs Market - Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented By Pipeline Type (Liquid, Gas),  By Technology (Magnetic Flux Leakage, Ultrasonic, Caliper), By Application (Metal Loss/Corrosion Detection, Geometry Measurement & Bend Detection, Crack & Leak Detection), By Region, and By Competition 2019-2029,” has evaluated the future growth potential of Global Magnetic Flux Leakage Pigs 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 take sound investment decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Magnetic Flux Leakage Pigs Market.

 

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