August 2024, Vol. 251, No. 8
Features
Pigging Technology: Market Sees Burgeoning Areas for Opportunities
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By Aashi Mishra, Research Writer, Research Nester
(P&GJ) — With the surge in water consumption, there has been increased dependency on pipelining systems. For instance, in the United States, more than almost 2.1 million miles of pipeline are used to move 39 billion gallons of water sent for public consumption.
Disinfecting, cleaning and flushing the pipeline network holds immense importance for providing safe and clean drinking water. To prevent metal loss, corrosion detection, refurbishing cracks and leakage and its detection are also critical.
Various market players are rendering pipeline-pigging services and harnessing benefits from the rising demand for cleaning pipelines. In this blog, we will delve deeper to understand various aspects of pipeline pigging services. Let us first understand the meaning of pipeline pigging, its types and applications.
Pipeline pigging refers to using pigging machines for routine cleaning, maintenance and scrutinizing of pipeline functioning. Two types of pigging procedures are those that use utility pigs and intelligent pigs.
The process of pigging is done throughout the lifecycle of a pipeline and is widely used for maintenance, routine cleaning, and inspection of internal characteristics. Some of the other uses of pipeline cleaning are:
- Pre-commissioning cleaning
- Eradication of leftover debris
- Removal of hard scale
- Removal of dust, wax and rust
- Drying
- Dewatering
- Monitoring ovality
Companies are becoming proactive towards solving the problem of deterioration and pipe erosion, resulting in humongous property damage and injury. It has been estimated that an annual loss of almost $1.42 billion occurred to U.S. oil and gas exploration and production. In order to avoid these problems, pipeline pigging has become one of the most effective methods.
Another example of pipeline crack that caused a large loss occurred in Idaho, where a farmer mistakenly punched a hole in 22-inch pipeline, sending almost 51 MMcf of natural gas into the air.
Some accidental pipeline leaks are caused by things like corrosion, punctures, severe weather and faulty equipment.
The government is becoming proactive to deal with these man-made disasters. On the back of this, the market for pipeline pigging services is projected to witness significant growth. Let us dive into various market aspects.
Services Market
The pipeline-pigging service market is projected by Nestor to reach $12 billion by year-end 2036, thriving at a CAGR of 6% during the forecast period. The industry size of pipeline pigging garnered $9 billion in the year 2023. The growth of the market can be attributed to the following factors:
- Increased expansion in Inspection Technologies
- Rising pressure due to stringent regulations resulting from potential threat
- Concern of people related to fossil fuel and surge in inclination toward using clean energy
- Surge in concerns related to the safety of the pipeline
- Increased investments in the domain
- Rising oil and gas partnerships among countries
However, factors such as the doubtful position of the world’s oil supply, a shortage of skillful technicians and an increase in concern about pipeline security are some of the factors hindering the growth of the pipeline-pigging services market during the forecasted period.
Some of the key market players in the market are Baker Hughes Co., Dacon Inspection Technologies Co., Ltd., Rosen Group, TD Williamson Inc., Diamond Edge Services, Eddyfi NDT INC, Enduro Pipeline Services Inc., ERGIL, Italmatch Chemicals Spa, GeoCorr LLC, IKM Instrutek AS and International Pipeline Products Ltd.
In the year 2019, Baker Hughes garnered a contract to deploy a subsea connect system. The company is placing the system in Otway Basin, and it currently involves natural gas production from various fields.
Other than this, in 2019, Dacon Inspection Services signed a contract with American Oil and Gas Company to accomplish UAS inspections for their offshore oil rigs in Singapore and Thailand.
Furthermore, the demand for pipelining is growing in North America due to the surge in demand for energy. In the United States, almost 14.1 billion barrels of petroleum per year.
Most of the production is anticipated to be generated for Mexico and Texas, boosting the growth of the market during the forecasted period. The second region for highest growth in the market is Asia Pacific. The growth of the market can be attributed to the new contracts between the Asian countries regarding oil and gas.
In a Nutshell
The above information illustrates that the market holds innumerable futuristic opportunities for the market players. However, the market players are required to understand the intricacies of the market to make sound decisions for the business.
A comprehensive market report consists of imperative information such as regional analysis, market constraints, growth driving factors, key market players, etc. These factors help market players carve themselves a niche and stay ahead of the competition.
Source: https://www.researchnester.com/reports/pipeline-pigging-services-market/5599
Author: Aashi Mishra is an experienced research writer, strategist and marketer with a demonstrated history of research in a myriad of industries. She loves to distill complex industrial terminologies of market space into simpler terms.
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