Market Leader - Intelligent Pigging Market
Intelligent pigging is a technique of inspecting a pipeline internally and gathering information regarding presence and location of corrosion, bends, and other anomalies in the pipelines. Pigs are the tools that are propelled through the pipeline with the help of a pig launcher and is driven by the pressure of the product flow in the pipeline. The global intelligent pigging market is classified on the basis of technology, application, pipeline type, and geography. The intelligent pigging market is expected to be valued at USD 717.9 Million by 2023, growing at a CAGR of 4.69% between 2018 and 2023.
The magnetic flux leakage (MFL) technology is expected to hold the largest market share during 2018–2023. The metal loss/corrosion detection is expected to be the fastest-growing application in the intelligent pigging market between 2018 and 2023. To avoid leakages, corrosion, or bends in the pipelines, governments worldwide have made it mandatory to implement inline inspection in oil and gas pipelines. This is one of the key factors driving the market growth.Growing safety concern for energy infrastructure and are some major driving factors for the growth of the intelligent pigging market.
Intelligent pigs based on MFL technology are more preferred as they can be run in both liquid and gas pipelines, and they do not require any liquid couplant, like ultrasonic intelligent pigs. MFL-based intelligent pigs can measure metal loss or corrosion even for thin-walled pipelines, whereas UT-based intelligent pigs fail to measure metal loss or corrosion accurately for thin-walled pipelines.
Corrosion is one of the major causes of catastrophic failures of pipelines as it weakens the structure of the pipe; therefore, intelligent pigging is used for timely inspection of pipelines to quantify corrosion. Thus, with more risks associated with corrosion of metals, its detection application is expected to exhibit the highest CAGR during the forecast period.
Natural gas is a source of energy that is required for various purposes. A majority of pipelines constructed in the world are used for gas distribution. Therefore, gas pipelines are expected to continue to account for a larger share of the global intelligent pigging market in the coming years.
APAC is expected to be the fastest-growing market for intelligent pigging during the forecast period. Considering the growing energy demand and importance of reducing carbon emissions, APAC is expected to lay down new pipelines. This would lead to the creation of more new pipelines and develop pipeline infrastructure, which is expected to propel the growth of the intelligent pigging market in APAC.
Related Reports:
Intelligent Pigging Market by Technology (Magnetic Flux Leakage, Ultrasonic, Caliper), Application (Metal Loss/Corrosion Detection, Geometry Measurement & Bend Detection, Crack & Leak Detection), Pipeline Type (Gas, Liquid) - Global Forecast to 2023
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