Global Intelligent Pigging Services Market Expected to Expand at a CAGR of 6.3% due to Stringent Government Regulations and Technological Advancements in Intelligent Pigging Services
Global intelligent pigging services market is projected to account for US$ 826.5 Million by 2025 at an estimated CAGR of 6.3% during the forecast period. Globally, the estimated oil & gas pipeline network is approximately 3.5 million km long. Pipeline operators are responsible for maintaining smooth functioning of the pipelines. The most important aspect for pipeline operators is maintaining pipeline integrity. Oil & gas pipelines are subject to many problems such as corrosion and wax deposition, which can result in mishaps and directly affect functioning of the pipeline. A pig (pipeline inspection gauge) is a device that can travel through pipelines for inspection and maintenance purposes. Pigs can be used to inspect and clean the pipeline. In-line pigs are used for analysing pipeline condition and provide accurate information about the same. As pipelines transport valuable fluids, overall infrastructure of the pipeline is expensive and needs regular maintenance in order to ensure smooth functioning and longevity. Pipeline operators are investing in pigging technology to aid efficient maintenance of the pipeline infrastructure. Intelligent or smart pigs use electronic chips to record data about condition of the pipeline which is used to analyse and resolve the problem in the pipeline.
Request Report Sample@ http://www.futuremarketinsights.com/reports/sample/rep-gb-390
On the basis of technology, the market is segmented into magnetic flux leakage (MFL) and ultrasonic test (UT). The MFL technology segment contributed around 66.6% share of market revenue in 2014. MFL technology segment is identified the fastest growing segment during the forecast period, expanding at a CAGR of 6.5%. The UT technology segment is expected to register a CAGR of 6.1% over the forecast period.
North America is estimated to dominate the market and account for around 48.5% share of the global market, followed by Eastern Europe and Middle East & Africa by the end of 2015. The North America intelligent pigging services market is estimated to be valued at US$ 216.7 Million by the end of 2015, which is projected to account for US$ 401.2 Million by 2025. Eastern Europe and Middle East & Africa are estimated to be the other major contributors to the global market the end of 2015; contribution from these regions is estimated to account for 19.4% and 8.8% shares respectively. Though, Latin America accounted for miniscule share in the global market, it is expected to register a CAGR of 8.6% during the forecast period.
Increasing consumption of petroleum products and natural gas is expected to fuel demand for intelligent pigging services market globally. In addition, economic revival in regions such as Eastern Europe, Western Europe & North America and economic growth in regions such as APEJ and Latin America is expected to propel growth of the global intelligent pigging services market over the forecast period. As demand for innovative inspection technologies is growing across the globe, OEMs/vendors are investing in R&D activities to innovate inspection technologies to further enhance efficiency of pig. This is expected to further fuel growth of the global intelligent pigging services market over the forecast period.
Various OEMs offer comparatively smaller intelligent pigs as compared to conventionally used pigs equipped with sophisticated and small size electronic systems. Due to invention of small intelligent pigs, inspection and maintenance of small-diameter pipelines is possible. Pipeline inspection includes other costs such as travel, evaluation and data analysis costs apart from standard inspection costs. According to our primary respondents, intelligent pigging service costs are expected to increase over the next 10 years. To avoid increased maintenance costs, pipeline operators are entering into long-term contracts with intelligent pigging service vendors/OEMs.
Send An Enquiry@ http://www.futuremarketinsights.com/askus/rep-gb-390
Key players across the supply chain in the global intelligent pigging services market include OEMs/vendor of intelligent pigging services and oil & gas explorers and producers. The OEMs/vendors that we have analysed in the report are LIN SCAN, T.D. Williamson, Inc., Baker Hughes Incorporated, GE Oil and Gas (PII Pipeline Solutions), NDT Global and Enduro Pipeline Services Inc. The oil & gas explorers and producers that analysed in this report are Petrobras, OMV Group, ConocoPhillips and Royal Dutch Shell Plc.
In future, OEMs/vendors should continue investing in the North America and Eastern Europe market exploring untapped avenues. At the same time, APEJ and Latin America are expected to generate significant demand for intelligent pigging services. OEMs/vendors should focus on improving combinational technologies, as combinational inspection technologies are superior to individual technologies that are currently available.
Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Global Intelligent Pigging Services Market Expected to Expand at a CAGR of 6.3% due to Stringent Government Regulations and Technological Advancements in Intelligent Pigging Services here
News-ID: 494786 • Views: 400
More Releases from Future Market Insights
How Changing Dynamics of Cable Testing Market are Reflecting on Growth Strategie …
Global Cable Testing Market: Introduction The cost of the substitution of cables that are concealed is very high. Faults in the cable, bending, kinking, and crushing, are not always visible, which has created the requirement for cable testing. Thus, cable testing helps check the cable functionality, cable quality, and cable conformity. Several times, cable testing by visual inspection is an effective way of identifying the actual problem before it causes any
How Transformative Trends in Self-Organising Network Market are Molding Strategi …
Self-Organising Network: Introduction With accelerated advancements and increasing complexities in the radio network technologies, such as those utilised for the development of LTE and 5G networks, which are used for planning, management, configuration, healing and optimisation, are required to be automated to facilitate efficiency. At present, suppliers are offering self-organising networks that possess the ability to offer optimum performance. Self-organising networks are use cases that perform network governance, including network planning,
Mining Vehicle AC Kits Market: Exploring the Impact of Trends on Strategies of K …
Mining Vehicle AC Kits Market: Introduction Cabin space in mining equipment has become more sophisticated in the recent past. The installation of mining vehicle AC kits has evolved from an optional feature to a necessary feature. Mining equipment manufacturers have made advancements in technology related to efficiency, performance and cost of air conditioning systems in order to make them affordable and economical to enable low-budget and compact installations without compromising on
Key Factors to Fuel Growth of the Talent Acquisition & Staffing Technology and S …
With the growing importance of recruiting and retaining top talent effectively and efficiently, smart hiring processes are the need of the hour. It is about time organisations move beyond merely scrutinising resumes. Salaries and benefits are important factors, but adopting ways that would make candidates an important part of the hiring process will attract the best talent. Studies reveal that due to discrepancies in existing Applicant Tracking Systems (ATS), hiring
More Releases for America
Latin America Colour Cosmetics Market
The colour cosmetics market in Latin America managed to keep its head above water over 2011-2016. The category recorded a CAGR of 1.7% despite a decline in value occurring towards the end of the period, Chile and Argentina offsetting the impact of economic crisis in Brazil and Venezuela. Direct selling still holds strong as the core channel for colour cosmetics purchases in the region but retail infrastructure is rapidly improving
South America Aviation Market
The South American aviation market was affected adversely by the financial crisis, which had originated in the United States and the sales were impacted adversely by the same, but the market has recovered, since. Furthermore, the good performance of regional jets sold by Embraer were termed profitable by users and could certainly turn the tide as aircraft orders from other airlines continue to increase. Rising income levels in the continent
Agrochemicals Market in North America
ReportsWorldwide has announced the addition of a new report title North America: Agrochemicals: Market Intelligence (2016-2021) to its growing collection of premium market research reports. The report “North America: Agrochemicals: Market Intelligence (2016-2021)” provides market intelligence on the different market segments, based on type, active ingredient, formulation, crop, and pest. Market size and forecast (2016-2021) has been provided in terms of both, value (000 USD) and volume (000 KG) in the
Make America Great Again
Help us open our Veterans' Home We don't know them all, but we owe them all... Lake Ariel, PA: FCPCF Inc. and National Auto Raffle invites you to enter the online Charity Auto & 50/50 Raffles (www.nationalautoraffle.com) and help us raise funds to open the doors of veterans' housing facility and provide housing to the homeless Veterans and their families in need. Every 1 in 4 homeless is a Veteran and its time
Latin America Oil & Gas Potential
Produced by The CWC Group, Latin American Oil and Gas Conference takes place on 25 – 27 October 2011, Mandarin Oriental Hotel, Miami, U.S.A. Organisers confirmed that the strategic conference will feature advanced insights from important organisations in the region alongside NOC’s showcases from Brazil, Mexico, Colombia, Trinidad & Tobago, Venezuela, Uruguay and Bolivia. Content centres on the development of the Latin America’s resources, the impact of shale
Mafi Designs America
Austrian Natural Wood Floor manufacturer establishes themselves in the high end New York Lifestyle market. “Successfully building a luxury Brand in the US is very important to our world wide marketing efforts,“ proclaims a happy Philippe S. Pezet, Partner Mafi USA, Inc & Export/Marketing Manger for the manufacturing company Mafi Holzverarbeitung from Austria. The Mafi brand name is recognized by leading architects and decorators in the Big Apple as being the