Product Code: 62658
The global pipeline pigging equipment market is expected to grow at 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 & gas operators continue to discover new reserves is driving the market. Moreover, the production from unconventional reserves are witnessing widespread growth which presents massive opportunities for pipeline pigging equipment business. The oil & gas extraction from offshore unconventional reserves lead to production of 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 increased requirement of pipeline pigging services. The challenge, however, is lower crude oil prices which has 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 North America 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 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.
- Moreover, the shale gas production is expanding with the implementation of hydraulic fracturing and horizontal directional drilling. The shale gas production, especially in the North America region, is anticipated to increase in 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 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 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 & 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.
- Further, 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 grow substantially during the forecast period.
The pipeline pigging equipment market is consolidated. Some of the key players in this market Baker Hughes, a GE 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 Metres, till 2025
- 4.5 Inter-Regional Pipeline Export Capacity and Forecast in Billion Standard Cubic Metres, 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
- 18.104.22.168 Batching Pigs
- 22.214.171.124 Cleaning Pigs
- 126.96.36.199 Gauging Pigs
- 188.8.131.52 Liquids Displacement Pigs
- 184.108.40.206 Special Application Pigs
- 220.127.116.11 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 a GE 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