INTELLIGENT PIGGING MARKET ANALYSIS

Intelligent Pigging MarketSize and Trends

Global intelligent pigging market was valued at US$ 852.6 Billion  in 2022 in terms of revenue, exhibiting a CAGR of 6.5% during the forecast period (2023 to 2030).

Figure 2. Global Intelligent Pigging Market Value Share (%), By Technology, 2022

On the basis of technology, magnetic flux leakage dominated the global intelligent pigging market in 2021 with around 67% of the market share in terms of revenue, followed by ultrasonic tests, respectively.

Market Trends

Increasing shale gas and offshore deep-water exploration activities are expected to stimulate the market growth of intelligent pigging over the forecast period. Growth in the oil &gas industry due to technological advancement and expanding network of pipelines to distribute petroleum products is further anticipated to foster the market growth of intelligent pigging over the forecast period. The rising trend of integrating a GPS on intelligent pigging for efficient diagnosis of the defects in the pipe is expected to foster the market growth of intelligent pigging. The new generation pigs comprise GPS capability that allows easy detection of precise and small defects in the inner wall of the pipeline. Moreover, GPS pigs are also available in a variety of sizes. The growing adoption of such advanced technologies is expected to propel the market growth.