Smart Pigging System Market Expected to Be Worth Over USD 863.31 Million by 2027: Fior Markets
Smart Pigging System Market by Pipeline Types (Gas and Liquid), Technology (Magnetic Flux Leakage, Ultrasonic, and Caliper), Application, Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2020 to 2027
Newark, NJ, May 17, 2022 (GLOBE NEWSWIRE) — According to the report published by Fior Markets, the global market for smart pigging systems is expected to grow from USD 604.28 million in 2019 to USD 863.31 million by 2027, at a CAGR of 4.56% during the forecast period 2020-2027. North America currently holds the largest market share. The reason for the growth of the market in North America has increased consumption of fuels like petroleum, diesel, and natural gas and stringent regulatory guidelines for regular inspection of pipelines.
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Key players in the smart pigging systems market include Enduro Pipeline Services, NDT Global, Onstream Pipeline Inspection, Lin Scan, Dacon Inspection Services, Rosen Group, Baker Hughes, Intertek Group, TD Williamson, and Applus. Many data analysis companies are joining manufacturers. In addition, some companies also want to adapt to artificial intelligence to technically advance their product.
Pipeline segments include gas and liquid. Gas pipelines are the dominant sub-segment. The development of the gas and oil industries has enabled technological advances. The application of gas has increased over the years. It is widely used as a source of energy for industrial and domestic purposes. The Technology segment includes Magnetic Flux Leakage, Ultrasonic and Caliper. Among these, magnetic flux leakage holds the maximum market share. It can be used in both liquid lines and gas lines. He can investigate any loss of metal by looking for corrosion. It can work efficiently in thin-walled pipelines. The application segment includes crack and leak detection, metal loss corrosion, sensing, geometry measurement and bend detection. The intelligent scraping system is widely used for metal and corrosion detection. Corrosion can lead to massive disasters, hence regular inspection of the pipeline. Thus, the increased risk of corrosion and metal loss has increased the market demand for smart pigging systems.
Smart scraping is a more advanced technique. These smart pig devices provide other services besides cleaning. They are useful for gathering information and identifying faults inside the pipeline. It indicates the presence of any corrosion or any crack in the interior wall. They use ultrasonic testing and magnetic flux leakage for inspection of irregularities. Smart pigging does not interrupt material flow in the pipeline. The coolest feature is that the smart scraper doesn’t necessarily need to travel the entire length of the pipe for a full inspection. These are vital in the transport of flammable or explosive materials as they are used to check for any leaks in the pipes. It also helps identify areas that need to be repaired or replaced. Thus, increasing the usability of pipelines. The increased reliance on pipelines due to the growth of energy infrastructure has necessitated the need for government regulations. Therefore, there is a demand for more advanced technology. Many countries have adopted an intelligent pigging system.
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About the report:
The global Smart Pigging Systems market is analyzed on the basis of value (USD Million). All segments have been analyzed on a global, regional and country basis. The study includes analysis of more than 30 countries for each segment. The report offers an in-depth analysis of the drivers, opportunities, restraints and challenges to obtain key market insights. The study includes Porter’s Five Forces Model, Attractiveness Analysis, Commodity Analysis, Supply, Demand Analysis, Competitor Position Grid Analysis, analysis of distribution and marketing channels.
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