The global intelligent pigging market is expected to post a CAGR of
close to 5% during the period 2019-2023, according to the latest market
research report by Technavio.
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Technavio has published a new market research report on the global intelligent pigging market from 2019-2023. (Graphic: Business Wire)
Pipelines are the most widely used medium for the transportation of oil
and natural gas and are highly essential to maintain high operational
standards. Thus, many regulations, guidelines, and laws have been
introduced that mandates the regular inspection of pipelines to prevent
accidents, hazards, and groundwater contamination. In the US, the
Federal government is primarily responsible for issuing, developing, and
enforcing pipeline safety regulations. Pipeline safety laws provide
states with intrastate inspection, regulatory, and enforcement
responsibilities under an annual certification. Such regulations for
frequent inspections of oil and gas pipelines will propel the demand for
intelligent pigging during the forecast period.
As per Technavio, the increasing innovations will have a positive impact
on the market and contribute to its growth significantly over the
forecast period. This global
intelligent pigging market 2019-2023 research report also
analyzes other significant trends and market drivers that will affect
market growth over 2019-2023.
Global intelligent pigging market: Advances in
pipeline inspection technologies
Since the past few decades, pipeline safety has been a critical aspect
of the pipeline industry. Although inspections are being done on most of
the pipelines, some of them are unpiggable and inspections often fail to
detect small amounts of metal loss, corrosion or minute cracks. As a
result, researchers have been conducting R&D activities, which has
resulted in the emergence of many innovations to eliminate this issue.
Supervisory control and data acquisition (SCADA) systems are one of
those innovations that allow operators to detect problems and act before
the occurrence of a significant fault event. Some of the operators are
also adopting cloud technology that reduces the vast amounts of data
generated through intelligent pigs into graphs, diagrams, and charts.
This allows pipeline operators to run pipeline inspections smoothly and
effectively. Such technological advancements will propel the growth of
the intelligent pigging market during the forecast period.
“Apart from the advances in pipeline inspection technologies, factors
such as the increasing cross-border pipelines, growing demand for oil
and natural gas, and the additional applications of intelligent pigging
over traditional pigging will drive the growth of the intelligent
pigging market during the forecast period,” says a senior research
analyst at Technavio.
Global intelligent pigging market: Segmentation
This market research report segments the global intelligent pigging
market by application (oil, and gas) and geographic regions (APAC, EMEA,
and the Americas).
The APAC region led the market in 2018, followed by EMEA, and the
Americas respectively. The market growth in APAC can be attributed to
the presence of regulations mandating periodic pipeline inspections and
numerous oil and gas pipelines present in the US and Canada, that
require intelligent pigging for inspection.
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Five Forces Analysis
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