There were 1,739 press releases posted in the last 24 hours and 400,352 in the last 365 days.

Intelligent Pigging Service Market to Double by 2034 with a 6.7% CAGR Growth | TMR

Intelligent Pigging Service

Intelligent Pigging Service

Valued at US$ 907.2 Mn in 2023, the market is set to reach US$ 1.8 Bn by 2034, driven by rising demand for pipeline inspection.

WILMINGTON, DE, UNITED STATES, December 17, 2024 /EINPresswire.com/ -- The global intelligent pigging service market was valued at US$ 907.2 million in 2023 and is projected to grow at a CAGR of 6.7% from 2024 to 2034, reaching a valuation of US$ 1.8 billion by 2034. The market is primarily driven by the growing focus on pipeline corrosion control, investments in oil & gas infrastructure, and the demand for advanced inspection technologies to ensure pipeline integrity.

Download to explore critical insights from our Report in this sample - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=47745

Analyst Viewpoint: Key Drivers and Opportunities

1. Pipeline Corrosion Control

Corrosion remains a significant challenge in the oil & gas sector, leading to revenue loss, environmental damage, and safety risks. Intelligent pigging solutions play a crucial role in detecting, measuring, and mitigating corrosion defects, helping reduce downtime and maintenance costs while enhancing pipeline safety.

2. Rising Oil & Gas Investments

Growing energy demand and the emphasis on energy security are driving investments in oil & gas infrastructure. For instance, Vedanta announced a US$ 4 billion investment in early 2024 to double oil & gas production capacity. This trend boosts demand for intelligent pigging services to ensure the integrity of these investments.

Market Introduction: Intelligent Pigging Technologies

Intelligent pigging is a non-destructive testing (NDT) method used for pipeline inspection in the oil & gas industry. It involves deploying inspection tools ("pigs") within pipelines to assess their condition and identify defects. Key technologies include:

• Magnetic Flux Leakage (MFL): Detects corrosion, pitting, and wall loss in steel pipelines by measuring flux leakage caused by cross-sectional area reductions.

• Ultrasonic Pigging: Uses high-frequency ultrasonic signals to inspect pipeline integrity. It provides precise data on wall thickness and detects internal/external flaws.

• Caliper Pigging: Utilizes mechanical arms to measure pipeline geometry, detecting changes in diameter that indicate potential damage or wear.

Visit our report to explore critical insights and analysis - https://www.transparencymarketresearch.com/intelligent-pigging-service-market.html

Recent Trends in Intelligent Pigging

Emerging trends include the integration of System-on-Module (SoM) technology into smart pigging tools. These systems enable remote monitoring and predictive maintenance, offering a more efficient approach to pipeline management. Additionally, next-generation hybrid pigs combine the simplicity of cleaning pigs with advanced inspection capabilities.

Regional Outlook: Asia Pacific Leads the Market

In 2023, Asia Pacific accounted for the largest share of the intelligent pigging service market. This dominance is attributed to significant investments in oil & gas exploration and infrastructure development. For instance:

• India’s Oil and Natural Gas Corporation (ONGC) and other public sector undertakings are investing over US$ 143.6 billion in FY 2024-2025 to enhance exploration activities, build refineries, and lay pipelines.

Other regions, including North America and Europe, are witnessing growth due to rising investments in pipeline integrity management, particularly in aging pipeline networks.

Market Segmentation

By Pipeline Type:

• Magnetic Flux Leakage (MFL): Most widely used due to its efficiency in detecting corrosion.
• Ultrasonic: Offers higher precision for detecting cracks and metal loss.
• Caliper: Preferred for accurate geometric measurement and bend detection.

By Product:

• Metal Loss/Corrosion Detection
• Geometry Measurement & Bend Detection
• Crack & Leak Detection
• Others

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Players in the Market

Leading players in the intelligent pigging service market are focusing on R&D to develop advanced solutions with enhanced capabilities, including high-resolution sensors and visual inspection systems. Notable companies include:

• LIN SCAN
• T.D. Williamson, Inc.
• Baker Hughes Company
• GE Vernova
• NDT Global
• Shell Plc
• ConocoPhillips Company

Recent Developments:

1. May 2024: ConocoPhillips and Marathon Oil Corporation announced a merger, consolidating resources to enhance inspection services.
2. 2022: T.D. Williamson entered into a strategic agreement with Artera Services to expand their specialized pipeline integrity offerings.

Future Outlook

The intelligent pigging service market is poised for robust growth driven by technological advancements, increasing regulatory compliance requirements, and heightened focus on operational efficiency in the oil & gas sector. By 2034, advancements such as autonomous pigging systems and predictive maintenance tools will redefine pipeline integrity management, ensuring safer and more cost-effective operations worldwide.

Examine key highlights and takeaways from our Report in this sample – https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=47745

More From Transparency Market Research

Offshore Oil & Gas Welding Market

AI-based Gas Analyzers Market

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Contact:
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Email: sales@transparencymarketresearch.com
Follow Us: LinkedIn| Twitter| Blog | YouTube

Atil Chaudhari
Transparency Market Research Inc.
+1 518-618-1030
email us here

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.