Intelligent pigging service providers seek to leverage critical maintenance requirements for existing oil & gas pipelines to sustain revenues through the coronavirus pandemic.

DUBAI, UAE / ACCESSWIRE / July 14, 2020 / Future Market Insights: The intelligent pigging services market is expected to witness a substantial dip in demand through 2020, owing to concerns over the coronavirus contagion. Concerns over worker safety, and disruption in supply chains will hold back the market during this period. However, extensive existing pipeline infrastructure will create the need for intelligent pigging services during and after the conclusion of the pandemic.

'The complex nature of mandatory pipeline inspections and strict regulations are key factors supporting the demand for intelligent pigging services. Evaluation of data on corrosion, metal loss, and other physical issues are essential to maintain safety standards, aiding the growth of intelligent pigging service providers,' states the FMI analyst.

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Intelligent Pigging Services Market- Critical Takeaways

• Smart magnetic flux leak detection is a highly sought-after technology for intelligent pigging, owing to applications in liquid and gas pipelines.
• Pipeline corrosion applications of intelligent pigging services, contribute significantly to revenues, owing to a higher risk of pipeline failure.
• North America is a major intelligent pigging services market, supported by the presence of major oil & gas industry leaders in the region.

Intelligent Pigging Services Market- Drivers

• Strict regulations on petroleum and natural gas resources aids market growth.
• Rising levels of awareness among pipeline operators on the importance of pipeline inspection and maintenance supports adoption.
• High damage incidents of oil & gas pipelines in the past have generated increased investments towards maintenance infrastructure, supporting market prospects.

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Intelligent Pigging Services Market- Restraints

• Unavailability of requisite data from initial pigging processes hurts market prospects.
• Ambiguous interpretation of data during pipeline inspection will restrain market prospects.

Coronavirus Impact on Intelligent Pigging Services Market

The oil & gas industry are witnessing gradual relaxations in terms of pandemic lockdown restrictions, as governments look to restart their national economies. Consequently, new pipeline expansion projects will gradually start operations, which will generate demand for intelligent pigging services, towards the end of 2020, projecting a steady market recovery in the near future.

Competitive Landscape

Intelligent pigging service providers are focusing on tech and service improvements to keep ahead of the competition. For instance, LIN SCAN displayed its capabilities in cleaning and inspecting 3 critical crude oil lines in the United Arab Emirates, which were previously considered as unpiggable.

ConocoPhillips, T.D. Williamson Inc., Royal Dutch Shell plc, LIN SCAN, Petrobras, GE Oil & gas, OMV Group, Baker Hughes Inc., NDT Global, and Enduro Pipeline Services Inc. are some of the leading intelligent pigging service providers.

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About the Study

The study offers readers an assessment of the intelligent pigging services market. Global, regional and national-level analysis of the latest trends influencing the intelligent pigging services market is covered in this FMI report. The study provides insights according to technology (magnetic flux leakage, and ultrasonic test), and end use (oil & gas), in seven regions (North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and MEA).

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SOURCE: Future Market Insights