Three major trends augmenting the global pipeline pigging services market size over 2020–2026
With the introduction of supportive regulatory policies & directives, and changing trends towards smart inspection technologies, pipeline pigging services market size is projected to witness a lucrative rate of growth over the forthcoming time period.
The ability to carry out various operations like pipeline inspection, and cleaning concurrently, without stopping the product flow, are some of the prominent features provided by intelligent pipeline pigging solutions that are expected to fuel the demand for these services over the coming years. Favorable regulatory policies and directives relating to oil spoilage and pipeline operations along with enhanced operational efficiency through technological advancements would further drive the service demand.
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Additionally, smart pigging also offers a number of benefits in comparison to the conventional forms of pipeline inspection. It utilizes nondestructive examination techniques like magnetic flux leakage testing and ultrasonic testing so as to investigate the pipeline for pitting, metal loss, weld anomalies, hydrogen induced cracking, and erosion corrosion among others. Moreover, they can also collect data on the diameter, temperature, bends, and curvature of the pipeline, favoring their adoption over traditional services.
Notable industry players operating in the global pipeline pigging services market include CIRCOR International, Inc., ROSEN Group, TD Williamson, Inc., and Applus+ among many others.
As per a research report by Global Market Insights, Inc., global pipeline pigging services market is estimated to surpass a valuation of $2.4 billion by 2026.
Below are the key trends that are stimulating pipeline pigging services market size:
Growing natural gas industry
The pipeline-based transportation of natural gas is turning into a key trade route among various key economies. As per IAE (International Energy Agency), the overall gas production across the globe had grown by 4% in 2018 in comparison to the previous year, thus driving the demand for pipeline infrastructure.
Furthermore, the exponentially expansion of the natural gas industry is also fueling the demand for effective pipeline inspection services as well as integrity management operations, thereby driving the growth for pipeline pigging services industry.
Growing demand for internal cleaning applications
The internal cleaning of the pipeline is one of the most simple and cost-efficient pigging services operation that is utilized to improve the flow rate, reduce erosion, and decrease the presence of any foreign matter in the pipeline.
Additionally, cleaning pigs are utilized for liquid removal as well as separation of various products within a single line. The increasing demand for enhancing the product flow as well as lowering safety risks and pigging expenditure will boost the service demand for internal cleaning applications.
Expanding pipeline infrastructure across Asia-Pacific
Over the past years, rising petroleum product trade flows throughout the region has driven the pipeline infrastructure demand in APAC substantially. To maintain the trade flows established among the countries in the region efficiently, maintaining ideal condition of the transportation network is highly crucial, which is expected to boost the growth of inspection services in the region.
Consequently, this considerable expansion of pipeline infrastructure in the region along with the increasing demand for effective inspection services, would be impelling the APAC pipeline pigging industry expansion over the forecast timeframe.
Overall, the use of smart pipeline pigging services is set to increase substantially as the technique delivers inspection and cleaning services at the same time, which is both a time as well as cost saving proposition for companies. In fact, innovative products such as the intelligent PIG (Pipeline Inspection Gauge), which was specially developed by Rosen Group, located in Lingen, Germany, for the Nord Stream Pipelines are witnessing tremendous consumer demand.
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