Energy

Pipeline Pigging Equipment Market Future Scope, Competitive Analysis and Revenue till 2023

Pipeline Pigging Equipment
Pipeline Pigging Equipment

Pipeline Pigging Equipment Market Share – Growth, Trends, And Forecast (2019 – 2024)”: Is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data which enhances the understanding, scope and application of this report.

Major Companies Include are:

Baker Hughes, 3P Services, Dacon Inspection Services, PII Pipeline Solutions, LIN SCAN and others.

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The pipeline pigging equipment market is poised for growth in near future riding on surging development of infrastructure pertaining to oil & gas sector. The pigging operations are imperative in pipeline infrastructure to maintain proper flow of fluid and ensure activities in smooth manner. The oil & gas infrastructure is in growing phase across sub-sectors i.e. upstream, midstream and downstream which employs pipeline network to transport the fluid which provides business opportunities for pipeline pigging equipment companies. Apart from that, the technological advancements and implementation of digital technologies is likely to promulgate the pipeline pigging equipment market across the world.

The pipeline pigging equipment market is categorized according to product and application. The various types of pipeline pigging equipment include Pipeline Pig Products, Pig Passage Indicators, Pig Trackers and Indicators, Pig Launching & Receiving, Pig Washer Equipment, Closures. The applications involve Oil Pipeline Pigging Systems and Gas Pipeline Pigging Systems.

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Rising Offshore Exploration & Production (E&P) Activity – Drives the Market

To meet the expected oil demand in the future, opportunities lie in offshore deep-sea beds, where oil & gas operators continue to discover new reserves. Moreover, the production from unconventional reserves are witnessing widespread growth which presents massive opportunities for pipeline pigging equipment business. The oil & gas extraction from offshore unconventional reserves lead to production of high concentration of impurities, such as bitumen, water, and carbon dioxide, which pose a threat to the integrity of the pipeline system in place. Thus, leading to increased requirement of pipeline pigging services. Many regions around the world have begun offshore explorations in order to exploit their fair share of natural resources and to kick start their economy, which, in turn provides a huge impetus to pipeline pigging market.

China and India to Drive the Growth in Asia-Pacific for Pipeline Pigging Equipment Market

In 2017, Asia-Pacific accounted for around 35.8% and 21% of crude oil and natural gas consumption, respectively, and was one of the largest segments of the oil & gas pipeline maintenance services market. As of June 2017, China had 112,000 km of oil and gas pipeline and is expected to reach 240,000 km, by 2025. Further, as of September 2017, Indias gas pipeline infrastructure was spread across 16,470 km. As of October 2017, India is the fourth-largest importer of LNG. The domestic LNG demand is expected to touch 90 billion cubic meters (bcm), from 21.3 bcm in 2017-2018 (April-November), and is expected to heavily expand the gas pipeline network across the country. With increasing pipeline network, the demand for pipeline pigging equipment market in the region is expected to grow substantially during the forecast period.

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The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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