The global intelligent pigging services market is projected to grow at a CAGR of 6.3% from 2015 to 2025, reaching a value of USD 826.5 million by 2025, as per Future Market Insights (FMI). The growth is driven by the expansion of the global oil and gas industry, stringent regulatory standards, and advancements in pipeline inspection technologies.
However, challenges such as shrinking profit margins due to intense competition and the high cost of intelligent pigging may hinder market growth. Key trends identified in the market include rising demand for smaller pigs and the increasing trend of long-term contracts with original equipment manufacturers (OEMs).
FMI’s market analysis reveals that Magnetic Flux Leakage (MFL) technology dominated the intelligent pigging services market in 2015, accounting for over 60% of the market share, and is expected to maintain its lead throughout the forecast period. Conversely, Ultrasonic Testing (UT) technology is projected to see moderate growth, primarily due to its limitation in inspecting natural gas pipelines.
The oil and gas sector remains the primary end-use industry, with demand in the gas sector expected to account for 79.5% of the market share by 2025. The oil sector is also expected to grow at a 6.2% CAGR during the forecast period.
Key Takeaways from the Global Intelligent Pigging Services Market:
- Market Growth: The global intelligent pigging services market, valued at approximately USD 537 million in 2018, is projected to grow at a CAGR of ~6% from 2019 to 2029.
- Technology Dominance: Magnetic Flux Leakage (MFL) technology is expected to remain the leading technology in intelligent pigging services, favored for its high flexibility and efficiency in pipeline inspections.
- Regional Leadership: North America is anticipated to account for nearly half of the global market revenue share by the end of 2029, driven by robust demand in the oil and gas sector.
- Rising Demand for Pipeline Inspections: Increased pipeline infrastructure and a growing need for pipeline safety and maintenance are key drivers fueling the market growth.
- Long-Term Market Prospects: The market is expected to continue growing steadily due to advancements in pipeline inspection technologies and increasing regulatory requirements for pipeline safety and monitoring.
Leading players in the intelligent pigging services market
- D. Williamson, Inc.
- LIN SCAN
- GE Oil and Gas (PII Pipeline Solutions)
- Baker Hughes Incorporated
- Enduro Pipeline Services Inc.
- NDT Global
- OMV Group
- Petrobras
- Royal Dutch Shell PLC
- ConocoPhillips
Intelligent Pigging Services Market: Segmentation
Technology:
- Magnetic Flux Leakage
- Ultrasonic Test
End Use:
- Oil
- Gas
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ
- Japan
- Middle East and Africa
Report Preview: https://www.futuremarketinsights.com/reports/intelligent-pigging-market
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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