Intelligent Pigging Market to Grow with Increasing Network of Pipeline Across the World by CAGR of 5% between 2019 and 2027
Research Nester released a report titled “Intelligent Pigging Market Outlook: Industry Insights & Opportunity Assessment 2019–2027” which includes some prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.
Intelligent pigs are sophisticated devices that are capable of performing advanced inspection activities and are widely adopted on account of their reliability and effectiveness to help detect flaws that could affect the operational efficiency of the pipelines. The intelligent pigging system market is anticipated to witness significant opportunities and is estimated to grow at a CAGR of around 5% over the forecast period i.e. 2019-2027. This can be attributed to increase in adoption of intelligent pigging systems owing to their ability to support the businesses for honing their operational efficiency. Moreover, increase in return of investment and lower payback time-period for the businesses are the other benefits attained from adopting intelligent pigging systems. The global intelligent pigging market is segmented by technology, application, pipeline type and regions.
Geographically, the global intelligent pigging market is segmented by regions into North America, Latin America, Europe, Asia-Pacific and Middle East and Africa, out of which, the market in North America is expected to grow at an incremental rate during the forecast period on the back of rising investments in energy infrastructure and oil exploration activities in the region. The market in Europe is anticipated to witness moderate growth owing to increasing adoption of smart pipeline inspection gauges in various applications. Moreover, the market in Asia Pacific is projected to witness highest CAGR owing to increasing government regulations and urbanization in the region. Additionally, growing global ties for transfer of oil and gas resources are estimated to propel the growth of the market in Asia Pacific region.
Expansion of pipeline network for transportation of oil and gas combined with rise in investment for exploration activities has paved way for increased inspection of pipelines, thereby furthering the demand for intelligent pigging systems around the globe. Moreover, increasing government regulations on the back of growing need to inspect and maintain safety in energy infrastructure are resulting in an increased adoption of intelligent pigging systems.
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However, lack of technical know-how related to installation of smart pigs in long pipe runs along with major risks pertaining to contamination and safety are some of the restraining factors that are expected to hamper the market growth.
This report also provides the existing competitive scenario of some of the key players of the intelligent pigging market which includes company profiling of key companies such as Applus+ (BME: APPS), Aubin Group, Baker Hughes, a GE company LLC (NYSE: BHGE), Dacon Inspection Technologies, Enduro Pipeline Services, Inc., NDT global, Quest Integrity Group, LLC, Lin scan, ROSEN Group and T.D. Williamson, Inc.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Global Intelligent Pigging System Market Outlook 2027”, analyses the overall intelligent pigging system industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global intelligent pigging system market in the near future.
Request a sample Report of Intelligent Pigging Market at: https://www.researchnester.com/sample-request-1868
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This post was originally published on Aerospace Industry