Intelligent Pigging Market Share, Trends, Analysis and Forecasts, 2020 – 2030
Increased investment in process industries such as oil & gas, chemical, pharmaceutical, and food & beverages, rising focus on improving process safety and implementation of stringent regulations are the key attributes governing the dynamics of the global intelligent pigging market. Intelligent pigging is an inspection method used to inspect the health of pipelines through probes also called as smart pigs. It is used to detect the presence of corrosion or other irregularities on the inner walls of the pipe carrying industrial fluids. The expansion of process industries such as oil & gas, chemicals, pharmaceuticals, and food & beverages across the globe has resulted in expansion of pipeline infrastructure during past couple of decades. Intelligent pigging plays a crucial role in monitoring the health of industrial pipeline. This has fueled the demand for intelligent pigging services across the globe. Increased investment in oil & gas exploration and processing industry across Asia Pacific and North America owing to discovery of shale gas reserves is anticipated to drive the growth of the global intelligent pigging market during the forecast period.
North America held the largest share of the global intelligent pigging market in 2019 and is anticipated to be a dominating geography throughout the forecast period growing at a steady positive growth rate during the forecast period. The presence of largest pipeline infrastructure across the United States and implementation of stringent regulations to safeguard the health of pipeline are the key attributes driving the growth of the North America intelligent pigging market.
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Asia Pacific contributed a prominent share to the global intelligent pigging market in 2019 and is anticipated to be the most lucrative geography during the forecast period. Expansion of pipeline infrastructure across major countries fueled by increased investment in industrial development is expected to contribute towards the growth of the Asia Pacific intelligent pigging market during the forecast period.
The global intelligent pigging market is segmented on the basis of technology, pipeline type, application, and geography. Based on technology, the global intelligent pigging market is segmented into magnetic flux leakage, ultrasonic, caliper, and others. Based on pipeline type, the global intelligent pigging market is segmented into gas and liquid. Based on application, the global intelligent pigging market is segmented into metal loss/corrosion detection, geometry measurement & bend detection, crack & leak detection, and others. Based on geography, the global intelligent pigging market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment and would identify the segment of the company focusing on intelligent pigging. Further, market share of prominent companies in the global intelligent pigging market would also be estimated. the study takes into consideration the key competitive information such as business strategy, product portfolio, key development, swot analysis, and research and development focus of all the intelligent pigging companies.
The global intelligent pigging market study would take into consideration the participants engaged throughout the ecosystem of the market, along with their contribution. Product portfolio would focus on all the products under the Intelligent Pigging business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the global intelligent pigging market.