Pipeline Pigging Services Market Report Scope & Overview:

The Pipeline Pigging Services Market size was valued at USD 1.28 million in 2023 and is expected to grow to USD 2.15 million by 2031 and grow at a CAGR of 1.81% over the forecast period of 2024-2031. Pipeline pigging is the term for the regular cleaning, maintenance, and inspection of pipelines using pigging equipment or machinery, more precisely Pipeline Integrity Gauges, or "PIGs." PIGs are moved through the pipeline by product flow and differential pressure. Utility PIGs and Intelligent PIGs are the two different categories of pipeline integrity gauges. The changing interregional trade dynamics, the increasing shift towards unconventional gas resources opens up new prospects for pipeline service providers such pipeline pigging. These services, which are a crucial aspect of integrity management activities, keep supply systems in top shape. They are also thought to be crucial for preventing corrosion in transmission networks. Regulatory organisations have imposed time limits intervals for carrying out pipeline inline inspection procedures with the goal of reducing failure risk.

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The length of the line and the characteristics of the hydrocarbons being carried are two examples of variables that might affect these intervals. The usage of established pipelines has significantly increased in North America and the Middle East, which has led to the widespread adoption of different operations and maintenance techniques, services for operations and maintenance (O&M), such as pigging Furthermore, ongoing technology improvements have made it possible for service providers to run their businesses effectively.

MARKET DYNAMICS

KEY DRIVERS:  

• Demand for effective supply infrastructure

• Change in natural gas consumption trends

• A focus on improving flow efficiency

RESTRAIN:

• Safety Risk

•  High Cost or cost efficiency

• Availability of other alternatives

OPPORTUNITY: 

• Demand for inline inspection service

• Technological Advancement

Due to growing expenditures in the creation of new energy infrastructure, the sector has consistently grown in recent years. The fast rise of shale production and the continuous shift to other types of natural gas might be blamed for this increase in investment. Also, a number of regulatory bodies have issued guidelines for routine pipeline infrastructure maintenance and cleaning, which has increased demand for these solutions.

CHALLENGES:

• Geopolitical uncertainty

• Unpiggable pipelines

IMPACT OF RUSSIAN-UKRAINE WAR

Due to Russia's invasion of Ukraine, Russian supplies may be limited. The recent unplanned supply outage in Libya, which eliminated around 550,000 barrels of oil equivalent (BOE) per day from the supply mix, has raised concerns. The continuous stock shortage is the same way. Together, these factors will keep oil prices high and markets tight, notwithstanding the latest 260,000-day drop in projected oil demand for 2022, which is mostly due to China.  These sources provide 94% of the energy used by the sector. Heavy industries are another type of end users with a substantial need for liquid fuels. Along with building residential and commercial structures, they also create electricity.

KEY MARKET SEGMENTATION

By Service

• Pigging

• Intelligent Pigging

By Application

• Metal Loss / Corrosion Detection

• Crack & Leakage Detection

• Geometry Measurement & Bend Detection

By End Use

• Oil

• Gas

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REGIONAL ANALYSIS

The recent shale revolution has significantly increased the development of new oil and gas transportation networks, the market for pipeline pigging services in North America is anticipated to expand at a constant rate. Inline inspection services, such as pigging, will be in more demand as new supply systems are developed in order to guarantee optimum flow efficiency and reduce pipeline breaks. Policies aiming at lowering risk have also been implemented by regulatory agencies spills and pipeline malfunctions have increased demand for these services.

With a CAGR of more than 7% throughout the projected period, Asia Pacific is anticipated to expand the quickest. In the upcoming years, rising energy demand from developing nations like China, Australia, and India will support the oil and gas industry's expansion, which will ultimately fuel the market in the Asia Pacific region. 

REGIONAL COVERAGE:

North America

• US

• Canada

• Mexico

Europe

• Eastern Europe

  • Poland

  • Romania

  • Hungary

  • Turkey

  • Rest of Eastern Europe

• Western Europe

  • Germany

  • France

  • UK

  • Italy

  • Spain

  • Netherlands

  • Switzerland

  • Austria

  • Rest of Western Europe

Asia Pacific

• China

• India

• Japan

• South Korea

• Vietnam

• Singapore

• Australia

• Rest of Asia Pacific

Middle East & Africa

• Middle East

  • UAE

  • Egypt

  • Saudi Arabia

  • Qatar

  • Rest of Middle East

• Africa

  • Nigeria

  • South Africa

  • Rest of Africa

Latin America

• Brazil

• Argentina

• Colombia

• Rest of Latin America

KEY PLAYERS 

The Major Players are Baker Hughes Company, Applus+, T.D.Williamson, Inc., ROSEN Group, NDT Global, Altus Intervention, LIN SCAN, CIRCOR International, Inc., Dacon, IKM Testing, Inline Services, LLC, Halliburton and other players.

T.D.Williamson Inc-Company Financial Analysis