Smart pigging systems market is expected to be worth over $863.31 million by 2027: Fior Markets

Fior Market Research LLP

Fior Market Research LLP

Smart Pigging Systems Market By Pipeline Type (Gas & Liquids), By Technology (Magnetic Flux Leakage, Ultrasonic & Caliper), By Application, By Region, Global Industry Analysis, Market Size, Share, Growth, Trends And Forecasts From 2020 To 2027

Newark, NJ, May 17, 2022 (GLOBE NEWSWIRE) — According to a report published by Fior Markets, the global smart pigging systems market is expected to grow from $604.28 million in 2019 to $863.31 million in 2027 at a CAGR of 4.56% during the forecast period 2020-2027. North America currently holds the largest market share. The growth of the North American market is due to the increasing consumption of fuels such as oil, diesel and natural gas, and strict regulatory guidelines for regular inspection of pipelines.

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Key players in the smart pigging systems market are Enduro Pipeline Services, NDT Global, Onstream Pipeline Inspection, Lin Scan, Dacon Inspection Services, Rosen Group, Baker Hughes, Intertek Group, TD Williamson, and Applus. Many data analytics companies are working with manufacturers. In addition, some companies are also keen to adapt AI to advance their products technologically.

Pipe type segments include gas and liquid. Natural gas pipelines are the main segment. The development of the gas and oil industries has contributed to technological progress. The use of natural gas has increased over the years. It is widely used as an energy source for industrial and domestic purposes. Technical fields include flux leakage, ultrasonics and calipers. Among them, magnetic flux leakage occupies the largest market share. It can be used for both liquid pipelines and gas pipelines. It can investigate any metal loss by searching for corrosion. It works effectively in thin-walled pipes. Application areas include crack and leak detection, metal loss corrosion, inspection, geometric measurement and bend inspection. Smart pigging systems are widely used for metal detection and corrosion. Corrosion can lead to huge disasters, so check your pipes regularly. Hence, the increased risk of corrosion and metal loss increases the demand for the smart pigging system market.

Smart pigging is a more advanced technology. These smart pig devices provide other services besides cleaning. They are useful for gathering information and identifying any defects within the pipeline. It will notify if there is any corrosion or any cracks in the inner walls. They use ultrasonic testing and magnetic flux leakage to check for abnormalities. Smart pigging does not interrupt the flow of material in the pipeline. The most attractive feature is that the smart pig does not necessarily have to travel the entire length of the pipe to perform a complete inspection. These are essential for the transport of flammable or explosive materials as they are used to check for any leaks in the pipeline. It also helps identify areas that need repair or replacement. Therefore, the availability of the pipeline is increased. Due to the growing energy infrastructure, the reliance on pipelines has increased, thus requiring government regulation. Therefore, more advanced technology is required. Many countries have adopted smart pigging systems.

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About the report:

Analysis of the global Smart Pigging Systems market on the basis of value (USD Million). All segments are analyzed on a global, regional and country basis. The study includes analysis of over 30 countries in each market segment. The report provides an in-depth analysis of drivers, opportunities, constraints and challenges to gain key insights into the market. Research content includes Porter’s Five Forces Model, Attraction Analysis, Raw Material Analysis, Supply and Demand Analysis, Competitor Positioning Grid Analysis, Distribution and Marketing Channel Analysis.

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About Fior Markets

Fior Markets is a futuristic market intelligence company that helps clients develop their business strategies and use actionable intelligence to make better decisions. Through a transparent repository of information, we meet our clients’ goals, commitment to high standards, and potential prospects for SWOT analysis and market research reports. Fior Markets deploys a broad range of regional and global market intelligence research reports covering industries such as technology, pharmaceuticals, consumer products, food and beverages, chemicals, media, materials and more.

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