Product Code: 62658
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.
Key Market Trends
Gas Pipeline Pigging System to Dominate the Market
- The gas pipeline pigging system market is likely to grow at a robust pace in coming years, owing to the surge in the 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, the demand, and its ability to reduce the carbon footprint.
- Moreover, shale gas production is expanding with the implementation of hydraulic fracturing and horizontal directional drilling. The shale gas production, especially in the North American region, is anticipated to increase in the future, riding on policy level focus to drive the shale gas industry.
- The natural prices have recovered, and it is expected that the recovery will continue in the near future, which, in turn, positively impacts the upstream activities.
- Therefore, the anticipated improvement in natural gas prices is likely to drive the gas pigging systems market in the near future.
Asia-Pacific to Dominate the Market
- In 2018, Asia-Pacific accounted for around 35.9% and 21.4% of crude oil and natural gas consumption, respectively, and was one of the largest segments of the oil and gas pipeline maintenance services market.
- At the end of 2018, China had 122,300 km of oil and gas pipeline and is expected to reach 240,000 km, by 2025.
- Furthermore, as of 2018, India's gas pipeline infrastructure was spread across 16,800 km. As of October 2018, India is the fourth-largest importer of LNG. The domestic LNG demand is expected to touch 90 billion cubic meters (bcm), from 30.6 bcm in 2018, and is expected to heavily expand the gas pipeline network across the country.
- With increasing pipeline network, the demand for pipeline pigging equipment market in the region is expected to increase substantially during the forecast period.
The pipeline pigging equipment market is consolidated. Some of the key players in this market are Baker Hughes Company, 3P Services GmbH & Co. KG, Dacon Inspection Services Co. Ltd, LiN Scan, T.D. Williamson Inc., and Russell NDE Systems Inc.
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Table of Contents
- 1.1 Scope of the Study
- 1.2 Market Definition
- 1.3 Study Assumptions
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
- 4.1 Introduction
- 4.2 Market Size and Demand Forecast in USD billion, till 2025
- 4.3 Installed Pipeline Historic Capacity and Forecast in kilometers, till 2025
- 4.4 Inter-Regional Pipeline Import Capacity and Forecast in billion Standard Cubic Meter, till 2025
- 4.5 Inter-Regional Pipeline Export Capacity and Forecast in billion Standard Cubic Meter, till 2025
- 4.6 Investment in Pipelines, LNG Liquefaction, and LNG Receiving Terminals in USD billion, 2016-2027
- 4.7 Brent Crude Oil and Henry Hub Spot Prices Forecast, till 2025
- 4.8 Installed Pipeline in kilometers, by Region, 2018
- 4.9 Recent Trends and Developments
- 4.10 Government Policies and Regulations
- 4.11 Market Dynamics
- 4.11.1 Drivers
- 4.11.2 Restraints
- 4.12 Supply Chain Analysis
- 4.13 Porter's Five Forces Analysis
- 4.13.1 Bargaining Power of Suppliers
- 4.13.2 Bargaining Power of Consumers
- 4.13.3 Threat of New Entrants
- 4.13.4 Threat of Substitutes Products and Services
- 4.13.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
- 5.1 Application
- 5.1.1 Oil Pipeline
- 5.1.2 Gas Pipeline
- 5.2 Products
- 5.2.1 Pipeline Pig Products
- 126.96.36.199 Batching Pigs
- 188.8.131.52 Cleaning Pigs
- 184.108.40.206 Gauging Pigs
- 220.127.116.11 Liquids Displacement Pigs
- 18.104.22.168 Special Application Pigs
- 22.214.171.124 Replacement Components
- 5.2.2 Pig Passage Indicators
- 5.2.3 Pig Trackers and Indicators
- 5.2.4 Pig Launching and Receiving
- 5.2.5 Pig Washer Equipment
- 5.2.6 Closures
- 5.3 Geography
- 5.3.1 North America
- 5.3.2 Europe
- 5.3.3 Asia-Pacific
- 5.3.4 South America
- 5.3.5 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Strategies Adopted by Leading Players
- 6.3 Company Profiles
- 6.3.1 Baker Hughes Co.
- 6.3.2 3P Services GmbH & Co. KG
- 6.3.3 Dacon Inspection Technologies Company Limited
- 6.3.4 LIN SCAN Advanced Pipelines & Tanks Services
- 6.3.5 NDT Global FZE
- 6.3.6 Russell NDE Systems
- 6.3.7 T. D. Williamson Inc.
- 6.3.8 Xylem Inc.
- 6.3.9 Pigs Unlimited International
7 MARKET OPPORTUNITIES AND FUTURE TRENDS