Intelligent pigging or smart pigging refers to the use of in-line inspection tools known as intelligent pigs to internally inspect and monitor the condition of oil and gas pipelines. Intelligent pigs help detect corrosion, cracks, dents, and geometric anomalies inside pipelines, thereby preventing failures and oil spillage. The growing environmental concerns toward saving valuable natural resources along with the expanding oil and gas pipeline network are accentuating the adoption of intelligent pigging solutions.
The global Intelligent Pigging Market is estimated to be valued at US$ 1,408.3 Bn in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends: Rising infrastructural development of oil and gas pipelines worldwide is anticipated to propel the intelligent pigging market growth over the forecast period. According to the U.S. Energy Information Administration, the natural gas pipeline mileage in the U.S is estimated to increase by over 15% in the next 30 years. Similarly, investments in pipeline projects in major economies including China, India, and Mexico will further augment global pipeline infrastructure. This surge in pipeline construction coupled with the requirement for pipeline safety and integrity inspection is projected to drive the demand for intelligent pigging solutions during the forecast period.
SWOT Analysis
- Strength: Intelligent pigging technology helps detect internal corrosion and other pipeline defects without interrupting product flow. This improves the integrity, safety and lifespan of pipeline infrastructure.
- Weakness: Intelligent pigs are costly to develop, manufacture and deploy compared to traditional inline inspection methods. Older pipeline infrastructure may not be compatible with intelligent pigs.
- Opportunity: Growing natural gas and crude oil production is driving demand for new pipeline networks in regions like North America and Asia Pacific. This creates opportunities to implement intelligent pigging from the start.
- Threats: Geopolitical tensions and energy price volatility could delay pipeline expansion plans and investments in innovative inspection technologies like intelligent pigging. Strict environmental regulations also pose compliance challenges.
Key Takeaways
The global intelligent pigging market is expected to witness high growth. It is projected to reach a value of US$ 2,239.7 Bn by 2030 from US$ 1,408.3 Bn in 2023, expanding at a CAGR of 6.5% during the forecast period.
Regional analysis
North America dominates the global intelligent pigging market, accounting for around 35% share in 2023. This is mainly due to significant pipeline infrastructure and rapid expansion of oil and gas production activities across the U.S. and Canada. Asia Pacific is expected to be the fastest growing regional market, supported by strong economic growth, rising energy demand and new pipeline construction projects in China and India.
Key players
Key players operating in the intelligent pigging market are LIN SCAN, T.D. Williamson, Inc., Baker Hughes Incorporated, GE Oil and Gas, NDT Global, Enduro Pipeline Services, Inc., Petrobras, OMV Group, ConocoPhillips, and Royal Dutch Shell PLC. Baker Hughes and LIN SCAN lead the market with their wide intelligent pig product portfolios and global service networks for pipeline inspection and monitoring.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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