The expansion of the worldwide economy is a crucial element driving the growth of the intelligent pigging industry. The global economy has greatly improved in recent years and is anticipated to rise further in the near future as monetary circumstances improve. Increasing urbanisation and industrialisation throughout the world, together with favourable government regulations, are also projected to boost intelligent pigging market growth. Major companies' advancements in inspection technologies are projected to boost the growth of the intelligent pigging market. Market rivalry is fierce due to the existence of a large number of competitors, Price wars have resulted, and the manufacturer's profit market is likely to stymie the expansion of the intelligent pigging industry. A cost-sensitive market like India is likely to drive price competition among suppliers. The high installation cost of an in-line pigging system based on MFL (Magnetic Flux Leakage), UT (Ultrasonic Testing), and EMAT (Electro-Magnetic Acoustic Transducer) technologies is projected to limit intelligent pigging market growth.
According to Coherent Market Insights, Global Intelligent Pigging Market was valued at US$ 723 Million in 2021 in terms of revenue, exhibiting a CAGR of 5.5% during the forecast period (2022 to 2030).
Key Competitors in the Intelligent Pigging Industry:
1. LIN SCAN
The company is headquartered in Al Hamra, UAE. LIN SCAN is a manufacturer and distributor of pipeline inspection services like integrity management support.
2. T.D. Williamson, Inc.
The company offers pigging products and accessories, such as pipeline pigs, launching and receiving components, quick opening closures, and pig passage indicators; pipeline plugging equipment; cathodic protection equipment for corrosion prevention and corrosion control; and tapping machines, including hot tapping and drilling products.the company was founded in 1920, headquartered in Oklahoma, U.S. In June 2021, T.D. Williamson, a pipeline services, equipment and Solutions Company, completed its first SmartPlug isolation in offshore Nigeria, working for a major operator through its local partner, Strides Energy & Maritime Ltd. (Strides), an Offshore /Swamp Oil and Gas Construction Services Company.
3. Baker Hughes Incorporated
Baker Hughes is an energy technology company that provides solutions for energy and industrial customers Worldwide.the Company was founded in 1972, headquartered in Houston, U.S. the company is acquired by General Electric. In September 2022, Baker Hughes Incorporated, an oil field services company, announced that it is restructuring and simplifying its organization and accelerating its strategic transformation.
4. GE Oil and Gas
GE Oil & Gas works on the things that matter in the oil and gas industry. We push the boundaries of technology to fuel the future. The company is headquartered in Houston, U.S., founded in 2016.
5. Enduro Pipeline Services, Inc.
Enduro Pipeline Services is an industry leader in pipeline inspection and data analysis.
The company was founded in 1986, headquartered in Oklahoma, U.S.
6. Petrobras
They have been listed on the Dow Jones Sustainability Index since 2006, with the spotlight on the ongoing improvement of corporate governance practices and on the adoption of international transparency standards. Petrobras supplies the energy that propels development and ensures the future of the society. The company was founded in 1953, headquartered in Brazil. The company is acquired by Southern Cross Group.
7. OMV Group
OMV Petrom is the largest integrated oil and gas group in South-eastern Europe. The company was founded in 1991, headquartered in Romania.
8. ConocoPhillips
ConocoPhillips is an oil and gas exploration and production company in the energy industry that promotes health and environmental safety. The company is established ConocoPhillips in Houston, Texas in 2012.
9. Royal Dutch Shell PLC
Shell plc operates as an energy and petrochemical company Europe, Asia, Oceania, Africa, the United States, and Rest of the Americas. The company operates through Integrated Gas, Upstream, Marketing, Chemicals and Products, and Renewables and Energy Solutions segments. Shell plc was founded in 1907 and is headquartered in London, the United Kingdom.
*Definition- Intelligent pigging is a type of inspection instrument that collects essential data, such as the existence of corrosion or other abnormalities on the inner walls of a pipe.
