Increasing prominence of intelligent pigging to stimulate pipeline pigging market outlook
The recent acquisition of First Call by parent company Inline, has opened new growth avenues for the pipeline pigging services industry players to adopt novel measures in order to strengthen their geographical reach in the overall market. News reports state that, the Texas-based pipeline pigging and maintenance products firm had in March 2020, acquired its subsidiary- First Call that operates in providing hot tapping, pipeline freezing services, and plugging services and fittings. It has been reported that this move is expected to bolster the former company’s position in the pipeline market, while also urging the market vendors to take a step ahead in development of novel and innovative products to gain a competitive edge in pipeline pigging services business space.
Pipeline pigging is a practice of using a device, normally addressed as a ‘pig’, to clean the pipes and perform various maintenance activities. These services reduce the high cost repair expenditure, minimizes the safety risks associated with these practices, while also offering a long product life span. That said, what has been really driving the growth of overall pipeline pigging services market is rising concern pertaining to pipeline safety and energy infrastructure in tandem with growing government mandates and regulations for secure and safe transportation of oil and gas. Not to mention, proliferating use of these in various end-use industries including the likes of oil and gas, chemical, and lube oil would further propel the market dynamics in the years to come.
Speaking of its applications across the oil and gas industry, pipeline inspection and maintenance programs and services play an inherent role as failure or negligence could lead to accumulation of debris, in consequence leading to huge revenue losses to the operator. In this case, what pipeline pigging services do is that they support the maintenance of the asset integrity, thus enabling it to gain massive momentum in operation and maintenance systems.
Above that, advancements in pigging technologies aligned with mounting focus towards research and development activities are poised to enhance oil and gas maintenance services. For example, advent of intelligent pigging technology offers smart pigs the ability to identify and analyze cracks and leaks, detect metal loss or corrosion, and other operations, thus augmenting the industry outlook.
In this regard, it is safe to declare that the demand for intelligent pigging is massively rising across the oil and gas industry subject to the product’s ability to perform advanced inspection operations like the ones aforementioned.
Basically, intelligent pipeline pigging services are a practice of implementing a pig into a pipeline embedded with various electrical instruments and sensors that help them to perform tasks like collecting data and inspecting presence and location of corrosion and other irregularities on the inner walls of the pipe. Some of the primary reasons that have led intelligent pigging leverage significant to benefit over convention pigging services is that these offer high accuracy, multi-operational characteristics, no intervention in pipeline operations, and others.
Also, the globe has been witnessing a surge in adoption of intelligent pigging over other inline inspection solutions owing to the constant technological development and adoption of smart technologies, which, undoubtedly is stimulating the pipeline pigging services market trends over the years.
In a nutshell, mounting traction of intelligent pigging services is poised to offer a lucrative growth curve to the overall pipeline pigging services market, which as per a research report by Global Market Insights, Inc., would record a valuation of USD 2.5 billion over the span of 2020 to 2026.