Intelligent Pigging Services
Market – Overview
Pipeline inspection is
an important aspect of the oil and gas sector, primarily due to the need to
ensure lesser accident rates. Reports that investigate the energy and power
industry have been presented by Market Research Future, which produces reports
on industry verticals that appraise the market expansion and prospects. The
market is anticipated to utilize a 4.89% CAGR in the upcoming forecast period.
The rise in governmental
regulations is a key factor that is adding to the growth of the intelligent
pigging market. Moreover, the increasing need to ensure risk mitigation and
safety by assessing signs of metal loss is boosting the demand for the
intelligent pigging market. Moreover, the heavy investments being made in
energy infrastructure are expected to motivate the intelligent pigging market
in the upcoming year.
Segmental Analysis
The segmentation of the Intelligent
Pigging Services Market has been carried out on the basis of
technology, pipeline type, application, and region.
On the basis of pipeline
technology, the intelligent pigging market is segmented into caliper, magnetic
flux leakage, and ultrasonic. The magnetic flux leakage segment is controlling
the market as it is primarily used in both gas and liquid pipelines and does
not need any liquid couplant like ultrasonic pigging.
Based on application,
the intelligent pigging market is segmented into crack & leak detection,
metal loss/corrosion, and geometry measurement & bend detection. The metal
loss/corrosion segment in the intelligent pigging market is projected to record
the maximum growth rate during the forecast period.
On the basis of pipeline
type, the intelligent pigging market is segmented into liquid and gas. On the
basis of region, the intelligent pigging market is segmented into North
America, Europe, Asia Pacific, and the rest of the world.
Regional Analysis
The regional examination
of the intelligent
pigging market covers regions such as North America, Europe, Asia
Pacific, and the rest of the world.
As per the analysis, the
North American region is devoting finances extensively in the oil and gas
pipeline projects to accomplish the rising demand for energy resources.
Besides, the Middle East and African region is one of the significant regions
of the intelligent pigging service market owing to the substantial production
level and search for crude oil and gas sources from the region. Nations such as
Iraq, UAE, Israel, and Egypt, among others, are financing projects for
pipelines which would motivate the development of the intelligent pigging market.
The investments in the market would increase the growth pace of the intelligent
pigging market. Moreover, the intelligent pigging market is projected to
observe significant growth through the forecast period due to increasing
investments in pipeline projects, specifically in the oil & gas sector.
Competitive Analysis
The significant
contenders in the intelligent pigging market are Corrosion Control Engineering,
(Australia), Baker Hughes (US), Rosen Group (Switzerland), Rouge Pipeline &
Process Services (UAE), Penspen (UK), Quest Integrity Group (US), SGS SA
(Switzerland), Halfwave AS (Norway), Romstar (Malaysia), Cokebusters (UK),
A.Hak Industrial Services (Netherlands), T.D.Williamson (US), and NDT Global
(UAE), among others.
Read More:
No comments:
Post a Comment