Market Size of Pipeline Pigging Equipment Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Pipeline Pigging Equipment Market Analysis
The global pipeline pigging equipment market is expected to register a CAGR of more than 5.5% over the period of 2020-2025.
- Factors, such as meeting the expected oil demand in the future for which opportunities lie in offshore deep-sea beds, where oil and gas operators continue to discover new reserves. are driving the market. Moreover, the production from unconventional reserves is witnessing widespread growth which presents massive opportunities for pipeline pigging equipment business. The oil and gas extraction from offshore unconventional reserves leads to the production of a 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 the increased requirement of pipeline pigging services. The challenge, however, is lower crude oil prices which made the offshore exploration a costly proposition, which, in turn, is expected to restrain the pipeline pigging equipment market during the forecast period.
- The increase in demand for cleaner energy has led to more focus on augmentation of natural gas production. The shale gas production, especially in the North American region, is anticipated to promulgate the demand for pipeline network, which, in turn, is expected to promulgate the demand for pipeline pigging equipment.
- The gas pipeline pigging system market is likely to grow at a robust pace in coming years, owing to surge in production of natural gas across the world. The global market has evolved over the last decade, driven by the growth in the global LNG usage, energy demand, and its ability to reduce the carbon footprint.
- Asia-Pacific is expected to be the fastest growing region, owing to the increase in the pipeline network majorly in China and India.
Pipeline Pigging Equipment Industry Segmentation
The pipeline pigging equipment market report include:
| Application | |
| Oil Pipeline | |
| Gas Pipeline |
| Products | ||||||||
| ||||||||
| Pig Passage Indicators | ||||||||
| Pig Trackers and Indicators | ||||||||
| Pig Launching and Receiving | ||||||||
| Pig Washer Equipment | ||||||||
| Closures |
| Geography | |
| North America | |
| Europe | |
| Asia-Pacific | |
| South America | |
| Middle-East and Africa |
Pipeline Pigging Equipment Market Size Summary
The pipeline pigging equipment market is poised for significant growth, driven by the increasing demand for oil and gas, particularly from offshore deep-sea reserves and unconventional sources. As operators explore new reserves, the need to maintain pipeline integrity becomes crucial due to the high concentration of impurities produced during extraction. This demand is further bolstered by the focus on cleaner energy, with natural gas production, especially shale gas in North America, playing a pivotal role in expanding the pipeline network. However, challenges such as fluctuating crude oil prices may pose constraints on market growth. The gas pipeline pigging system market is expected to experience robust expansion, fueled by the surge in global natural gas production and the growing use of LNG, which contributes to reducing carbon footprints.
Asia-Pacific is anticipated to be the fastest-growing region, driven by the expansion of pipeline networks in China and India. The region's substantial consumption of crude oil and natural gas underscores its significance in the pipeline maintenance services market. As China's and India's pipeline infrastructures expand, the demand for pipeline pigging equipment is expected to rise significantly. The market is characterized by consolidation, with key players such as Baker Hughes, 3P Services GmbH & Co. KG, and T.D. Williamson Inc. leading the industry. The anticipated recovery in natural gas prices is likely to further stimulate the market, supporting upstream activities and enhancing the demand for gas pigging systems.
Pipeline Pigging Equipment Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD billion, till 2025
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1.3 Installed Pipeline Historic Capacity and Forecast in kilometers, till 2025
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1.4 Inter-Regional Pipeline Import Capacity and Forecast in billion Standard Cubic Meter, till 2025
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1.5 Inter-Regional Pipeline Export Capacity and Forecast in billion Standard Cubic Meter, till 2025
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1.6 Investment in Pipelines, LNG Liquefaction, and LNG Receiving Terminals in USD billion, 2016-2027
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1.7 Brent Crude Oil and Henry Hub Spot Prices Forecast, till 2025
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1.8 Installed Pipeline in kilometers, by Region, 2018
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1.9 Recent Trends and Developments
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1.10 Government Policies and Regulations
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1.11 Market Dynamics
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1.11.1 Drivers
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1.11.2 Restraints
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1.12 Supply Chain Analysis
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1.13 Porter's Five Forces Analysis
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1.13.1 Bargaining Power of Suppliers
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1.13.2 Bargaining Power of Consumers
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1.13.3 Threat of New Entrants
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1.13.4 Threat of Substitutes Products and Services
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1.13.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Application
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2.1.1 Oil Pipeline
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2.1.2 Gas Pipeline
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2.2 Products
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2.2.1 Pipeline Pig Products
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2.2.1.1 Batching Pigs
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2.2.1.2 Cleaning Pigs
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2.2.1.3 Gauging Pigs
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2.2.1.4 Liquids Displacement Pigs
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2.2.1.5 Special Application Pigs
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2.2.1.6 Replacement Components
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2.2.2 Pig Passage Indicators
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2.2.3 Pig Trackers and Indicators
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2.2.4 Pig Launching and Receiving
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2.2.5 Pig Washer Equipment
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2.2.6 Closures
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2.3 Geography
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2.3.1 North America
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2.3.2 Europe
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2.3.3 Asia-Pacific
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2.3.4 South America
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2.3.5 Middle-East and Africa
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Pipeline Pigging Equipment Market Size FAQs
What is the current Pipeline Pigging Equipment Market size?
The Pipeline Pigging Equipment Market is projected to register a CAGR of greater than 5.5% during the forecast period (2024-2029)
Who are the key players in Pipeline Pigging Equipment Market?
Baker Hughes Company, 3P Services GmbH & Co KG , Dacon Inspection Services Co. Ltd. , LiN Scan , T.D. Williamson, Inc. and Russell NDE Systems Inc. are the major companies operating in the Pipeline Pigging Equipment Market.
