additional applications of intelligent pigging over traditional pigging is driving the Intelligent Pigging Market
Technavio analyzes that the Intelligent Pigging Market is expected to grow at a CAGR of 5.55% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 228 million.There are various factors that contribute to the growth of the market. Intelligent pigging, an advanced form of pigging technology, offers numerous advantages over traditional pigging methods. Besides transporting and cleaning pipelines, intelligent pigging systems can gather valuable data on pipeline conditions, identify corrosion and leaks, and optimize production. These capabilities enhance operational efficiency, reduce downtime, and improve safety in the oil and gas industry.
In the globalized natural gas market, the expansion of liquefied natural gas supplies and the emergence of shale gas have driven market growth. Consequently, the construction of natural gas pipelines is anticipated to increase due to the planned cross-border infrastructure projects. Governments are primarily involved in the development of these pipelines for energy security and self-sufficiency. However, with the rise in gas trade comes concerns regarding pipeline transportation and security. Periodic pipeline issues include stress, cracking, and both internal and external corrosion. To mitigate these risks, the implementation of Intelligent Pigging Systems is gaining traction. These systems, utilizing GPS technology, enable the inspection of inner walls for early detection and prevention of pipeline damage. Intelligent pigging is an essential investment for pipeline operators to ensure efficient, safe, and reliable transportation of natural gas.
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Intelligent Pigging Market Segmentation
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Intelligent pigging, a technology-driven approach to pipeline maintenance, gains significance in the context of increasing pipeline projects and the need for enhanced pipeline safety. This technology, which involves the use of caliper pigs for measuring wall thickness and detecting deformities, corrosion, and gas hydrates, is particularly valuable for pipelines transporting oil and petroleum gas. Ultrasonic technology, a key component of intelligent pigging, enables crack & leak detection, ensuring the inner walls remain free from damage. With the growing length of pipelines and the importance of regular inspection and cleansing activities, intelligent pigging is an essential tool for maintaining pipeline integrity.
The Intelligent Pigging market is a significant segment within the larger oil and gas storage and transportation industry. This market caters to companies specializing in the transportation and storage of gas, oil, and refined products, which forms part of the oil and gas midstream sector. The market's size is determined by the consolidated revenues of equipment, supplies, and services providers. Key growth drivers for the Intelligent Pigging market include increasing energy demand, the need for advanced inspections due to aging pipelines, and the importance of cleansing activities to maintain consumer base and prevent corrosion. Technavio's market analysis indicates that these factors will contribute to the expansion of the global oil and gas storage and transportation market.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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