(MENAFN- America News Hour) In a recent published report, Kenneth Research has updated the Smart Pigging Market report for for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Smart Pigging Market products.
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According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017. On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017
Smart pigging or intelligent pigging is developed and employed for inspecting, monitoring and surveying pipelines in oil & gas, chemicals, mining, and water industries. GMD predicts global smart pigging market to exhibit a moderate CAGR of 5.7% over the years to come, and the cumulative revenue to reach $5.04 billion during 2019-2025 driven by a rising adoption of smart PIGs (pipeline inspection gauges) in various applications across the globe.
Highlighted with 68 tables and 63 figures, this 152-page report“Global Smart Pigging Market by Technology, Application, End-user and Region 2014-2025: Growth Opportunity and Business Strategy” is based on a comprehensive research of the entire global market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report provides historical market data for 2014-2017, revenue estimates for 2018, and forecasts from 2019 till 2025. (Please note: Before delivery, the report will be updated so that the latest historical year is the base year and the forecast covers the next 5-10 years over the base year.)
In-depth qualitative analyses include identification and investigation of the following aspects:
• Market Structure
• Growth Drivers
• Restraints and Challenges
• Emerging Product Trends & Market Opportunities
• Porter's Fiver Forces
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The trend and outlook of global market is forecast in optimistic, balanced, and conservative view. The balanced (most likely) projection is used to quantify global smart pigging market in every aspect of the classification from perspectives of Technology, Application, End-user and Region.
Based on technology, the global market is segmented into the following sub-markets with annual revenue included for 2014-2025 (historical and forecast) for each section.
• Magnetic Flux Leakage (MFL)
• Ultrasonic Test (UT)
• Caliper
Based on application, the global market is segmented into the following sub-markets with annual revenue included for 2014-2025 (historical and forecast) for each section.
• Crack and Leak Detection
• Metal Loss/Corrosion Detection
• Geometry Measurement and Bend Detection
• Others
Based on end-user, the global market is segmented into the following sub-markets with annual revenue included for 2014-2025 (historical and forecast) for each section.
• Gas
• Oil
• Chemicals
• Others
Geographically, the following regions together with the listed national markets are fully investigated:
• APAC (Japan, China, South Korea, Australia, India, and Rest of APAC)
• Europe (Germany, Italy, UK, France, Russia, Rest of Europe)
• North America (U.S. and Canada)
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
• RoW (Israel, Saudi Arabia, United Arab Emirates)
For each of the aforementioned regions and countries, detailed analysis and data for annual revenue are available for 2014-2025. The breakdown of all regional markets by country and split of key national markets by Technology, Application, and End-user over the forecast years are also included.
The report also covers current competitive scenario and the predicted manufacture trend; and profiles key vendors including market leaders and important emerging players.
Specifically, potential risks associated with investing in global smart pigging market are assayed quantitatively and qualitatively through GMD's Risk Assessment System. According to the risk analysis and evaluation, Critical Success Factors (CSFs) are generated as a guidance to help investors & stockholders identify emerging opportunities, manage and minimize the risks, develop appropriate business models, and make wise strategies and decisions.
Key Players:
3P Services GmbH & Co KG
A.Hak Industrial Services B.V.
Applus
Aubin Group
Baker Hughes
Cokebusters
Corrosion Control Engineering
Dacon Inspection Services
Enduro Pipeline Services
Halfwave As
Intertek Group
Jamison Products LP
Lin Scan
NDT Global GmbH & Co. KG
Onstream Pipeline Inspection
Penspen
Pigs Unlimited International Inc.
Pigtek Ltd
Quest Integrity Group
Romstar
Rosen Group
Rouge Pipeline & Process Services
T.D. Williamson
(Please note: Before delivery, the report will be updated so that the latest historical year is the base year and the forecast covers the next 5-10 years over the base year.)
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About Kenneth Research:
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Eli
Eli is a freelance writer and possess double graduation degree in physics and chemistry. She is an intense writer covering everything for Science and Tech to Business, Entertainment, Sports and Lifestyle.
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