Global Pipeline Pigging Systems Market 2018-2022| Economic Benefits of Pipeline Transportation to Boost Growth | Technavio

Technavio has published a new market research report on the global pipeline pigging systems market for the period 2018-2022. (Graphic: Business Wire)

LONDON--()--Technavio analysts forecast the global pipeline pigging systems market to grow at a CAGR of nearly 5% during the forecast period, according to their latest market research report.

Development of intelligent pigs is one of the major trends being witnessed in the global pipeline pigging systems market 2018-2022. Intelligent pigs are also called smart pigs or in-line inspection pigs. Intelligent pigs use several methods for inspecting pipelines. The sizing of pigs employs one or more notched metal plates as gauges. These pigs are used to find any evidence of internal or external corrosion, laminations, cracks, or any other defects.

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According to Technavio analysts, one of the key factors contributing to the growth of the global pipeline pigging systems market is the economic benefits of pipeline transportation:

Global pipeline pigging systems market: Economic benefits of pipeline transportation

The primary objective of pipeline transportation is to ensure secure movement of the product inside the pipelines towards the intended destinations. Cost efficiency, fewer safety concerns, and employment are a few other primary benefits that are associated with the pipeline transportation. These not only benefit the oil and gas companies but also the end-users.

According to a senior analyst at Technavio for research on energy storage, “In countries such as Canada, the pipeline industry has been supporting many families by creating jobs for people. Thousands of people are employed in the pipeline industry across the country. About one-third of these jobs are in Alberta, one-fourth in Ontario, and one-fifth in Saskatchewan. The remaining jobs are spread across the rest of Canada.”

Global pipeline pigging systems market: Segmentation analysis

The global pipeline pigging systems market research report provides market segmentation by application (gas and oil), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

The gas segment held the largest market share in 2017, accounting for nearly 83% of the market. This application segment is expected to dominate the global market throughout the forecast period.

The Americas led the market in 2017 with a market share of nearly 78%. This region is expected to dominate the market through 2022, with an increase in its market share by nearly 2%.

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Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com

Release Summary

Technavio analysts forecast the global pipeline pigging systems market to grow at a CAGR of nearly 5% during the forecast period, 2018-2022.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com