Global Intelligent Pigging Market 2020 Industry research report provides an In-Depth analysis that includes an executive summary, definition, and scope of the market.
Intelligent Pigging 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.
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Segmental Analysis:
The
segmentation of the intelligent pigging 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 coolant 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.
Detailed 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
instabilities in global currency are predicted to become stable and
consequently place a beneficial impact on the market. The upturn of investment
into physical capital is estimated to underpin the market’s growth in the
forecast period. The market is being distinguished by the instrumental forces
that are applying an imposing influence. The upgrades in the mining of natural
resources are further supporting market expansion advancement. The improvement
of substitute raw material resources is likely to further concentrate on the
supply demands in the market. The progress in the efficacy of production
facilities is buttressing the market’s growth pace in the coming years. Also,
inventions in technology are anticipated to exercise a constructive inspiration
on the enhancement of the market. The influence of governmental plans is
stirring additional evolution of the market. The revivals carried out in the
logistic chain are projected to produce favorable possibilities for progress in
the coming period.
Top Manufacturers:
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.
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