Latest News - Pipeline Pigging Systems Market: Oil is expected to lead the Application segment during 2024-2028

The Pipeline Pigging Systems Market is being driven by Economic benefits of pipeline transportation

The Pipeline Pigging Systems Market is expected to grow at a CAGR of 2.71% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 334.6 million. In the realm of pipeline maintenance, Intelligent or Smart Pigs play a pivotal role. Equipped with notched metal plates and advanced sensors, these pigs meticulously inspect pipelines for corrosion, cracks, and other defects. Technologies such as Magnetic Flux Leakage (MFL) and Ultrasonic Testing (UT) are integral to their operation. While MFL is effective, UT, with its higher accuracy and easier mobilization, is the preferred choice for optimal pipeline inspection outcomes within the Pipeline Pigging Systems Market. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Oil
  • Gas
• Type
  • Magnetic flux leakage (MFL)
  • Ultrasonic test (UT)
  • Utility pigging
  • Caliper pigging
• Geography
  • APAC
    • China
  • North America
    • US
    • Canada
  • Europe
    • Russia
    • UK
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Economic benefits of pipeline transportation
• Growing demand for oil and natural gas worldwide
• Regulations mandating frequent inspections of oil and gas pipelines

However, the market also witnesses some limitations, which are as follows:

• Complexities associated with small-diameter pipelines
• High initial investments and other costs
• Complexity of pigging operations

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Market Scope in Pipeline Pigging Systems Market Research Report

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Research Analysis Overview

In the realm of infrastructure maintenance, pipeline pigging systems have emerged as a crucial solution for various industries, including water utilities and petrochemicals. These systems are essential for the upkeep of networks of pipelines, facilitating the transportation of water, petroleum products, and crude oil. Pipeline pigging involves the use of intelligent pigs for curvature monitoring, bend measurement, temperature assessment, and pipeline profiling. These activities are integral to pipeline construction and maintenance programs, ensuring pipeline efficiency and productivity. The aging pipeline infrastructure necessitates continuous inspection and data interpretation to maintain safety and reliability. Pipeline pigging systems play a vital role in electricity generating facilities by ensuring the uninterrupted flow of petroleum products and crude oil. In summary, pipeline pigging systems are indispensable tools for the effective maintenance of pipeline networks in construction, maintenance activities, and the energy sector.

Market Research Overview

The pipeline pigging systems market is a significant business sector catering to the oil and gas industry, focusing on equipment and services related to upstream operations. According to market analysis by Technavio, this market is projected to expand at a steady rate. Factors fueling this growth include escalating energy demand and the power sector's robust expansion, leading to increased sales of pipeline pigging systems and related services. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/