Intelligent Pipeline Pigging Market Growth Drivers and Forecast by 2031

The Intelligent Pipeline Pigging Market size is projected to reach US$ 1,244.2 million by 2031 from US$ 782.3 million in 2023. The market is expected to register a CAGR of 6.0% in 2023–2031. Increasing government policies and measures towards pipeline infrastructure is a major driving factor for the intelligent pipeline pegging market globally.

Intelligent Pipeline Pigging Market Analysis

The intelligent pipeline pegging services involve the utilization of smart equipment, such as advanced sensors, for collecting various information at the time of pipeline inspection. The overall process of pipeline pegging primarily helps in mitigating challenges like pipeline leakage, corrosion, and other issues in the inner walls of pipelines among others. The process of intelligent pipeline pegging not only reduces the chances of fatal issues but also facilitates operational efficiency.

Intelligent Pipeline Pigging Market Overview

The intelligent pipeline pegging helps the plant owners understand the need for pipeline maintenance and aids them in making informed decisions regarding the overall pipeline operation management. Advanced maintenance and cleaning services are a major part of the intelligent pipeline pegging services. Growing number of oil fields and gas plants are acting as major driving factors for the intelligent pipeline pegging market.

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Intelligent Pipeline Pigging Market: Strategic Insights

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Intelligent Pipeline Pigging Market Drivers and Opportunities

Increasing Number of Oil and Gas Plants is Expected to be the Prime Driver for Intelligent Pipeline Pigging Market

The growing number of oil and gas plants is acting as a major driver for the intelligent pipeline pegging market. The oil and gas exploration & production industry is rapidly growing as it has high demand in the manufacturing, construction, and industrial sectors. The rising crude oil production facilities and the increasing number of offshore oil & gas rigs in various countries, such as Saudi Arabia, China, Japan, Germany, and France, are having a positive impact on the intelligent pipeline pigging market.

Strong Interregional Trade Dynamics

The evolving trade scenarios between various nations and regions for oil and gas are anticipated to provide positive opportunities for the market over the forecast period. Ongoing market trends toward discovering unconventional oil and gas resources and strong interregional trade agreements between countries are major growth opportunities for the intelligent pipeline pigging market.

Intelligent Pipeline Pigging Market Report Segmentation Analysis

Key segments that contributed to the derivation of the intelligent pipeline pigging market analysis are application, technology, and end user.

• Based on application, the intelligent pipeline pigging market has been divided into metal loss/ corrosion detection, geometry & bend detection, crack & leak detection, and others. Metal loss/ corrosion detection held a larger market share in 2023.
• In terms of technology, the market has been segmented into ultrasonic pigging and magnetic flux leakage pigging. The magnetic flux leakage pigging segment dominated the market in 2023.
• In terms of end user, the market has been segmented into chemical, oil, gas, and others. The gas segment dominated the market in 2023.

Intelligent Pipeline Pigging Market Share Analysis by Geography

The geographic scope of the Intelligent Pipeline Pigging Market report is mainly divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America.

North America dominated the intelligent pipeline pigging market in 2023. The North America region includes the US, Canada, and Mexico. Strengthening activities in the oil and gas sector in terms of exploration and production are acting as major driving factors for the intelligent pipeline pigging market in North America. Additionally, the rising application of smart equipment, such as sensors for identifying and locating the crack or leakage that requires maintenance, is also fueling the development of the market in North America. The magnetic flux leakage technology is primarily used for identifying metal loss or corrosion detection, which is leading the market in North America. Growing shale gas exploration and production, along with offshore oil and gas exploration activities, are estimated to propel the growth of the market in North America over the forecast period.

Intelligent Pipeline Pigging Market Regional Insights

The regional trends and factors influencing the Intelligent Pipeline Pigging Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Intelligent Pipeline Pigging Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Intelligent Pipeline Pigging Market Report Scope

Intelligent Pipeline Pigging Market Players Density: Understanding Its Impact on Business Dynamics

The Intelligent Pipeline Pigging Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Intelligent Pipeline Pigging Market are:

1. Pigs Unlimited International Inc
2. Aubin Group
3. T.D. Williamson Inc.
4. Baker Hughes Company
5. Pigtek Ltd

Disclaimer: The companies listed above are not ranked in any particular order.

Intelligent Pipeline Pigging Market News and Recent Developments

The Intelligent Pipeline Pigging Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for Intelligent Pipeline Pigging Market and strategies:

• On September 2023, T.D. Williamson (TDW) announced its achievement in pipeline safety and efficiency. The company has received full ATEX Zone 1 certification for its Smart Plug in-line isolation tool. (Source: TDW, Press Release/Company Website/Newsletter)
• On 2022, Baker Hughes announced that it restructured its organization to accelerate its strategic transformation. (Source: Baker Huges, Press Release/Company Website/Newsletter)

Intelligent Pipeline Pigging Market Report Coverage and Deliverables

The “Intelligent Pipeline Pigging Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Market dynamics such as drivers, restraints, and key opportunities
• Key future trends
• Detailed PEST analysis
• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
• Detailed company profiles with SWOT analysis