Future Market Insights (FMI) provides key insights on the intelligent pigging services market in its research report, “Intelligent Pigging Services Market: Global Industry Analysis and Opportunity Assessment 2015-2025”.
According to the report, the market value of intelligent pigging services is anticipated to reach US$ 826.5 Mn by 2025, expanding at a CAGR of 6.3% during the forecast period 2015-2025.
The intelligent pigging services market has been segmented into magnetic flux leakage (MFL) and UT, on the basis of technology.
Among these, MFL pigging is more widely used, accounting for nearly 66.6% of the market in 2015. FMI expects this segment to maintain its dominance throughout the forecast period, accounting for 67.4% of the market by 2025.
MFL technology doesn’t require a medium for the pig to travel through the pipeline. Owing to this, natural gas companies, which account for 70% to 80% of the total pipeline length prefer MFL technology over UT. FMI forecasts the MFL segment to gain 80 BPS between 2015 and 2025, and reach US$ 556.8 Mn.
Request Free Report Sample@ http://www.futuremarketinsights.com/reports/sample/rep-gb-390
Ultrasonic technology is more expensive than MFL and it cannot be used for natural gas pipeline inspection. Owing to these factors, ultrasound intelligent pigging is expected to witness sluggish growth over the next decade. FMI expects the UT technology segment to lose its market share to MFL technology.
The key trends in the intelligent pigging market on the basis of technology include growing adoption of EMAT, usage of technology combination for data analysis, and integration of global position systems (GPS).
Limitation of UT has prompted manufacturers to develop advanced systems, as a result of which research and development (R&D) has increased in the EMAT segment. Adoption of EMAT is growing among end-user industries, with Europe and North America witnessing increased demand.
According to FMI’s research report, both MFL and UT have certain limitations, owing to which end-user industries are adopting a combination of the two. The flexibility of MFL when combined with the accuracy of UT is steadily gaining traction among end-users.
In a bid to improve pigging accuracy, GPS is being incorporated in the technology. New-generation pigs have GPS capability, enabling detection of precise location of the problem area in the pipeline.
FMI has segmented the intelligent pigging services market into gas and oil, on the basis of end-use industries. Use of intelligent pigging is predominant in the gas sector. FMI estimates the gas segment of intelligent pigging services market to expand at a CAGR of over 6% during the forecast period, reaching US$ 657 Mn by 2025.
The oil segment accounted for a share of 19.8% in 2015, which is anticipated to increase to 20.5% during the forecast period. The oil segment is projected to gain 70 BPS during the forecast period and expand at a high single-digit CAGR through 2025.
The key trends analysed by FMI in the end-use application segment of intelligent pigging services market include growing investment in piggable pipeline construction and adoption of advanced inspection technologies.
Send An Enquiry@ http://www.futuremarketinsights.com/askus/rep-gb-390
Currently, nearly 33% of total oil and gas pipeline network is unpiggable. Owing to this, the maintenance and inspection activities remain limited. Pipeline operators, especially in APEJ and Middle East, are investing in developing piggable infrastructure, such as launchers, receivers, and other related technologies.
Stringent government regulations have also meant that pipeline operators are increasingly adopting advanced inspection technologies, such as deformation (DEF) and multi-data set (MDS).
This post has been seen 74 times.