Pipeline Pigging Services Market Size & Share, by Pigging Type (Intelligent Pigging, Utility Pigging); Application (Metal Loss/Corrosion Detection, Crack & Leakage Detection); End-Use (Oil & Gas, Chemicals, Construction) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5599
  • Published Date: Feb 05, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Pipeline Pigging Services Market size is expected to reach USD  12 Billion by the end of 2036, growing at a CAGR of 6% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of pipeline pigging services was USD 9 Billion. Increasing oil and gas exploration across the world will drive the market of pipeline pigging services by the end of 2036. International oil demand stays on track to increase by 2.3 Mbpd in 2023 and go over the 100 Mbps point for the first time in history. The industry is projected to have a powerful beginning in 2024 due in part to its powerful financial situation and high oil prices, barring further degradation of the macroeconomic environment. This power of the industry will possibly offer it to finance both investments and dividends and therefore help its controlled capital program and shareholder-concentrated plan.

Another reason that will drive the market of pipeline pigging services is the increasing investment in the energy infrastructure. The Energy Information Administration projects renewable utilization to increase by 17% to 42 GW in 2024 and explain away almost a quarter of electricity production. In 2021, the yearly international energy investment is set to increase to USD 1.9 trillion, rebounding approximately 10% from 2020 and conveying the total volume of investment back towards pre-crunch levels. However, the arrangement has converted towards power and end-use sectors – and away from conventional fuel generation. Possibilities for investment have modified considerably as well as economic expansion, although there are substantial country-by-country variations. International energy requirement is set to rise by 4.6% in 2021, more than balancing the 4% decrease in 2020, in line with the newest IEA calculates. In economies where jurisdictions have more fiscal space and can ask for low rates, recovery plans present a major scope to increase investment in infrastructure, effectiveness, and clean energy technologies.


Pipeline Pigging Systems Market
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Pipeline Pigging Services Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

∼6%

Base Year Market Size (2023)

~USD 9 Billion

Forecast Year Market Size (2036)

~USD 12 Billion

Regional Scope

  • Asia Pacific (Japan, China, India, Australia, Others)
  • North America (North America, Canada, Mexico)
  • Europe (Germany, Spain, UK, France, Italy, Russia, Others)
  • Middle East and Africa (South Africa, UAE, Others)
  • Latin America (Brazil, Argentina, Others)
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Pipeline Pigging Services Sector: Growth Factors and Challenges

Market-Growth-Drivers

Growth Factors

  • People’s Concern in Limiting Fossil Fuel - Countries' strategy to raise their fossil fuel generation over the next decade, even as research demonstrates that the world requires to reduce production by 6% per year to restrict global warming to 1.5°C, in line with the 2020 Production Gap Report. To track a 1.5°C-persistent pathway, the global will be required to reduce fossil fuel generation by approximately 6% per year between 2020 and 2030. Countries are rather planning and anticipating an average yearly raise of 2%, which by 2030 would outcome in more than double the generation under the 1.5°C restriction. The pandemic-pushed requirement shock and the dive in oil prices this year have once again shown the drawback of many fossil-fuel-conditional regions and communities. The only way out of this trap is the disparity of these economies beyond fossil fuels. By 2050, they find that approximately 60 percent of oil and fossil methane gas, and 90 percent of coal must stay unclaimed to keep inside a 1.5 °C carbon budget. This is a large rise in the unextractable calculates for a 2 °C carbon budget, particularly for oil, for which an extra 25 percent of reserves must remain undeveloped.
  • Increasing Inclination Towards Clean Energy - An unparalleled rise in clean energy investing is needed to put countries on a passage towards net-zero emissions. Clean energy investment in appearing and creating economies reduced by 8% to less than USD 150 billion in 2020, with only a little rebound projected in 2021. By the end of the 2020s, yearly capital investing in clean energy in these economies is required to grow by more than seven times, to above USD 1 trillion, to put the world on track to touch net-zero emissions by 2050.
  • Increasing Concerns Related to Pipeline Safety - Other than other oil and gas supply groundworks, oil and gas pipelines may be more exposed to random, natural, and deliberate threats because of their prevalent distribution. Thus, a systematic and complete review is executed to examine the safety and security of oil and gas pipelines depending on bibliometric assessment. Under the Natural Gas Act (NGA), the backdrop of interstate natural gas pipelines and associated facilities needs particular acceptance from the Federal Energy Regulatory Commission (FERC).

Challenges

  • The Doubtful Position of The World’s Oil Supply - In 2022, noticing the outcomes of a supply stun with a miserly oil supply and supply disturbances pushing prices well north of USD 100 / barrel to almost record spurs. But trust it or not, there is a case where the condition with excessive supply later this year or the beginning of the next. Fluctuation will possibly be within the world for some time. The possible oversupply scenario happens if OPEC makes good on its dedication to go on unwinding the supply cuts it made in 2020, and U.S. unorthodox generation increases as much as some analysts are anticipating. If these events appear, companies may end up with an oversupply of oil, with as much as an extra 6.4 million barrels per day late this year.
  • Shortage of Skillful Technicians
  • Rise in Concern About Pipeline Security.


Pipeline Pigging Services Segmentation

Pigging Type (Intelligent Pigging, Utility Pigging)

The intelligent pigging segment in the pipeline pigging services market will grow massively during the forecast period and will hold the biggest chunk of the market with almost 58% revenue share. The strict government rules over the world will drive the market and will help this segment to grow rapidly. EPA and state investigations have identified Clean Air Act (CAA) non-compliance initiated by unauthorized and/or excessive emissions from depressurizing pig launchers and receivers in natural gas accumulation operations. Well-planned and functioned kindling devices can accomplish vapor destruction efficacies as high as 95% to 98%. Combustion devices can be utilized in association with engineering solutions considered above that first limit gathering of or recover as much natural gas and condensing as possible before demolishing the remaining vapors in the burning device. An instance would be to route high-pressure systems to low-pressure lines and exhaust barrel condensate, then route the remaining vapors to a burning device.

End-Use (Oil & Gas, Chemicals, Construction)

Pipeline pigging services market from the oil and gas segment will grow and have the biggest revenue share of almost 81% by the end of 2036 because of the increasing consumption of pipelines in oil and gas fields. More than 190,000 miles of liquid petroleum pipelines travel the United States. Pipelines are secure, effective, and, because most are hidden, largely unnoticed. They transfer crude oil from oil reserves on land and offshore to refineries where it is converted into fuels and other materials, then from the refineries to terminals where fuels are carried to retail outlets. Pipelines function 24 hours a day, seven days a week—the requirement of pipelines in offshore oil and gas equipment and acquisition areas.

Our in-depth analysis of the global pipeline pigging services market includes the following segments:

          Pigging Type

  • Intelligent Pigging
  • Utility Pigging

          Application

  • Metal Loss/Corrosion Detection Crack & Leakage Detection

          End-Use

  • Oil & Gas
  • Chemicals
  • Construction

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Pipeline Pigging Services Industry - Regional Synopsis

APAC Market Analysis

The pipeline pigging services market in the APAC region will encounter the biggest growth and will hold the highest revenue share with almost 45%. The reason behind this growth will be attributed to the high demand for energy in developing countries like China and India. Oil, gas, and coal imports to China contribute to roughly 85 percent, 40 percent, and 7 percent of the country’s domestic utilization, separately; and about 18 percent, 16 percent, and 18 percent of the international trade of these commodities. China is the world’s biggest energy utilizer and importer, along with a major manufacturer of energy and other associated commodities. Its impact on international energy markets and trade is enormous. The Asian powerhouse contributed to over a quarter of international utilization in 2022. It also persistently ranks among the top three users of oil, gas, coal, nuclear, hydro, wind, and solar power. It is a world leader in generating electric vehicles (EVs), along with the largest market for such cars. 

North American Market Statistics

The pipeline pigging services market in the North America region will also increase immensely and will hold the second largest position by the end of 2036 owing to the increasing use of pipelines in this region. In the United States, there are exceeding than 190,000 miles of liquid petroleum pipelines and more than 2.4 million miles of natural gas pipelines (comprising the distribution lines that serve homes, offices, and businesses). This constitutes the biggest pipeline network in the world.

Research Nester
Pipeline Pigging Systems Market size
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Companies Dominating the Pipeline Pigging Services Market

top-features-companies
    • Baker Hughes Co.
      • Company Overview
      • Business Planning
      • Main Product Offerings
      • Financial Execution
      • Main Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • 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

In-the-news

In The News

  • Baker Hughes Co. an energy technology organization, declared Wednesday it has accomplished a letter of award from ADNOC Gas, for and in place of ADNOC, to give two electric liquefaction systems (e-LNG) for the Ruwais LNG project in the United Arab Emirates. The award is projected to be booked in the fourth quarter of 2023 and was declared at this year’s ADIPEC, one of the biggest energy industry events on the globe. The LNG coaches will be pushed by Baker Hughes’ 75-megawatt BRUSH electric motor technology and aspect the organization’s avant-garde compressor technology, forming Ruwais LNG one of the first all-electric LNG projects in the Middle East. The complete production potential of the trains is projected to be 9.6 million tons yearly.
  • Baker Hughes Co. an energy technology organization, declared Tuesday a memorandum of understanding (MoU) with airport management and operations organization Avports to create, use, and function onsite microgrid solutions for the airport industry. The partnership deal approaches emissions limitation and the international industry’s objective to concentrate on zero-emission buildings, horizontal airport infrastructure, vehicles, and aircraft systems.

Author Credits:  Payel Roy, Dhruv Bhatia


  • Report ID: 5599
  • Published Date: Feb 05, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The increasing use of pipelines in the oil and gas fields worldwide will majorly drive the market growth of the pipeline pigging services market.

The market size of the pipeline pigging services market is expected to get a CAGR of approximately 6% over the forecast period, i.e., 2024 – 2036.

The major players in the market are 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, Inpex Corporation, Sakhalin Oil and Gas Development., Japan Petroleum Exploration, JX Nippon Oil & Gas Exploration Corporation, Teikoku Oil Company.

The oil & gas segment is anticipated to reap the largest market size with almost 81% by the end of 2036 and demonstrate substantial growth scopes.

The market in the APAC region is expected to have the largest market share by the end of 2036 and provide more business opportunities in the future.
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