Pipeline Pigging Systems Market to grow by USD 393.11 million from 2022 to 2027; The economic benefits of pipeline transportation to boost market growth – Technavio

 

NEW YORK, Dec. 4, 2023 /PRNewswire/ — AThe pipeline pigging systems market is expected to grow by USD 393.11 million from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 3.23% during the forecast period. The economic benefits of pipeline transportation is notably driving the pipeline-pigging systems market. However, factors such as complexities associated with small-diameter pipelines may impede market growth. The market is segmented by application (oil and gas), type (magnetic flux leakage (MFL), ultrasonic test (UT), utility pigging, and caliper pigging), and Geography (APAC, North America, Europe, Middle East and Africa, and South America). Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The sample report is available in PDF format 

Key Segment Analysis

The oil segment is estimated to witness significant growth during the forecast period. Oil pipelines are filled with sediment, wax, scale, corrosive chemicals, and other debris which may impede the flow of oil or reduce its efficiency.  Cleaning pigs shall be used for the purpose of removing all these substances so as to ensure an optimum flow rate. In addition, to maintain the oil’s quality and protect it from corrosion, pipelines contain water, gas condensate, or other liquids that need to be removed. Hence, these factors are expected to drive segment growth during the forecast period. 

To know additional highlights and key points on various market segments and their impact in coming years, View a PDF Sample Report.

Geographical Market Analysis 

APAC is estimated to contribute 45% to the growth of the global market during the forecast period. Greater demand for energy in developing countries such as China and India is a major reason for the region’s growth. The region has experienced high oil demand due to rising consumption in countries such as China, India, Japan, South Korea, and Indonesia. Oil demand is increasing, and these countries and the rest of the world are being put under more pressure than ever to meet their own needs. Hence, these factors are expected to drive market growth in the region during the forecast period. 

Company Insights 
The pipeline-pigging systems market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market’s competitive landscape and offers information on several market companies, including:
3P Services GmbH and Co KG, Baker Hughes Co., Dacon Inspection Technologies Co. Ltd., Diamond Edge Services, Eddyfi NDT Inc., Enduro Pipeline Services Inc., ERGIL, GeoCorr LLC, IKM Instrutek AS, International Pipeline Products Ltd., Italmatch Chemicals Spa, NDT Global GmbH and Co. KG, Oil States International Inc., Pigs Unlimited International LLC, Pigtek Ltd., PIPECARE Group AG, ROSEN Swiss AG, Russell NDE Systems Inc., STATS Group, T.D. Williamson Inc.

View a PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.

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The manifolds market size is estimated to grow at a CAGR of 3.52% between 2022 and 2027. The market size is forecast to increase by USD 564.08 million.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Application

Market Segmentation by Type

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio