Pigging is an advanced technique in which devices called pigs are attached to the pipelines in order to perform inspection and cleansing activities. Intelligent pigging is an inspection device used to gather important data such as to identify the presence of corrosion or other deformities on the inner walls of the pipe. The intelligent pigging system is an advanced device that is capable of doing advanced inspections and also cleanses it effectively. Intelligent pigging uses advanced examination techniques to inspect the long pipe such as ultrasonic testing and magnetic flux leakage testing for detecting erosion, metal loss, pitting, etc.
Global intelligent pigging market was valued at US$ 852.6 Billion in 2022 in terms of revenue, exhibiting a CAGR of 6.5% during the forecast period (2023 to 2030).
Development in global economy is augmenting growth of the segment
Development in the global economy is a major factor fueling the market growth of intelligent pigging. In the recent few years, the global economy has significantly improved and is expected to grow further in the near future due to developing monetary conditions. Rapid urbanization and industrialization around the globe coupled with favorable government policies are also expected to augment the market growth of intelligent pigging.
Advancement in technology by major players in this sector
Advancement in inspection technologies by major players is expected to favor the market growth of intelligent pigging. For instance, in September 2019, Indian Oil launched a new artificial intelligence-powered intelligent pigging analysis software. The new intelligent pigging analysis software is based on Alethe Consulting’s MASS platform, a data platform. Thus, the advent of advanced inspection technologies is expected to propel the market growth.
Figure 1. Global Intelligent Pigging Market Value Share (%), By Region, 2022
North America is dominating the global intelligent pigging market by 48% share among all the regions, followed by Europe and Asia Pacific. The presence of huge oil and gas industries and a large consumer base inclined towards the use of natural gas are factors leading to the growth of this region.
Presence of cost-sensitive market and high cost of manufacturing
Intense competition in the market due to the presence of a large number of players has led to price wars, in turn, reducing the profit market of the manufacturer is expected to hinder the market growth of intelligent pigging. Cost-sensitive market such as India is expected to lead the pricing among providers. The high cost of implementation of an in-line pigging system based on MFL (Magnetic Flux Leakage), UT (Ultrasonic Testing), and EMAT (Electro-Magnetic Acoustic Transducer) technologies is expected to restrict the market growth of intelligent pigging. According to Coherent Market Insights analysis, the average pricing of intelligent pigging technologies such as MFL and UT is expected to increase by approximately 5-7% globally on year on year basis over the next few years.
Intelligent pigging market Report Coverage
|Base Year:||2022||Market Size in 2023:||US$ 852.6 Bn|
|Historical Data for:||2018 to 2022||Forecast Period:||2023 to 2030|
|Forecast Period 2023 to 2030 CAGR:||6.5%||2030 Value Projection:||US$ 1,408.3 Bn|
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
|Restraints & Challenges:||
Increasing shale gas and offshore deep-water exploration activities are expected to stimulate the market growth of intelligent pigging over the forecast period. Growth in the oil &gas industry due to technological advancement and expanding network of pipelines to distribute petroleum products is further anticipated to foster the market growth of intelligent pigging over the forecast period. The rising trend of integrating a GPS on intelligent pigging for efficient diagnosis of the defects in the pipe is expected to foster the market growth of intelligent pigging. The new generation pigs comprise GPS capability that allows easy detection of precise and small defects in the inner wall of the pipeline. Moreover, GPS pigs are also available in a variety of sizes. The growing adoption of such advanced technologies is expected to propel the market growth.
Figure 2. Global Intelligent Pigging Market Value Share (%), By Technology, 2022
On the basis of technology, magnetic flux leakage dominated the global intelligent pigging market in 2021 with around 67% of the market share in terms of revenue, followed by ultrasonic tests, respectively.
Impact of COVID 19
The Intelligent pigging market has witnessed a negative impact in recent months owing to the lockdowns imposed globally to curb the spread of COVID-19. Manufacturing plants were also shut down on government orders for a brief period, which has hampered the product demand since December 2019. The negative impact occurred owing to the non-availability of the workforce and is anticipated to dissipate in the coming months, while the product demand is anticipated to grow in the long term.
Major players operating in the global intelligent pigging market include LIN SCAN, T.D. Williamson, Inc., Baker Hughes Incorporated, GE Oil and Gas, NDT Global, Enduro Pipeline Services, Inc., Oil & Gas Explorers and Producers, Petrobras, OMV Group, ConocoPhillips, and Royal Dutch Shell PLC
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