(MENAFN- PR Newswire) NEW YORK, Dec. 4, 2023 /PRNewswire/ -- AThe pipeline pigging systems market
is expected to grow by USD 393.11 million from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of
3.23% during the forecast period. The economic benefits of pipeline transportation is notably driving the pipeline-pigging systems market. However,
factors such as complexities associated with small-diameter pipelines may impede market growth. The market is segmented by application (oil and gas), type (magnetic flux leakage (MFL), ultrasonic test (UT), utility pigging, and caliper pigging), and Geography (APAC, North America, Europe, Middle East and Africa, and South America).
Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The sample report is available in PDF format
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![Technavio has announced its latest market research report titled Global Pipeline Pigging Systems Market 2023-2027]( "Technavio has announced its latest market research report titled Global Pipeline Pigging Systems Market 2023-2027")
Technavio has announced its latest market research report titled Global Pipeline Pigging Systems Market 2023-2027
Key Segment Analysis
The
oil segment
is estimated to witness significant growth during the forecast period.
Oil pipelines are filled with sediment, wax, scale, corrosive chemicals, and other debris which may impede the flow of oil or reduce its efficiency.
Cleaning pigs shall be used for the purpose of removing all these substances so as to ensure an optimum flow rate. In addition, to maintain the oil's quality and protect it from corrosion, pipelines contain water, gas condensate, or other liquids that need to be removed.
Hence, these factors are expected to drive segment growth during the forecast period.
To know additional highlights and key points on various market segments and their impact in coming years, View a PDF Sample Report .
Geographical Market Analysis
APAC
is estimated to
contribute
45%
to the growth of the global market during
the forecast period.
Greater demand for energy in developing countries such as China and India is a major reason for the region's growth. The region has experienced high oil demand due to rising consumption in countries such as China, India, Japan, South Korea, and Indonesia. Oil demand is increasing, and these countries and the rest of the world are being put under more pressure than ever to meet their own needs. Hence, these factors are expected to drive market growth in the region during the forecast period.
Company Insights
The pipeline-pigging systems market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market's competitive landscape and offers information on several market companies, including:
3P Services GmbH and Co KG, Baker Hughes Co., Dacon Inspection Technologies Co. Ltd., Diamond Edge Services, Eddyfi NDT Inc., Enduro Pipeline Services Inc., ERGIL, GeoCorr LLC, IKM Instrutek AS, International Pipeline Products Ltd., Italmatch Chemicals Spa, NDT Global GmbH and Co. KG, Oil States International Inc., Pigs Unlimited International LLC, Pigtek Ltd., PIPECARE Group AG, ROSEN Swiss AG, Russell NDE Systems Inc., STATS Group, T.D. Williamson Inc.
View a PDF Sample Report
to find additional highlights on the growth strategies adopted by companies and their product offerings.
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| Pipeline Pigging Systems Market Scope |
| Report Coverage | Details |
| Base year | 2022 |
| Historic period | 2017-2021 |
| Forecast period | 2023-2027 |
| Growth momentum & CAGR | Accelerate at a CAGR of 3.23% |
| Market growth 2023-2027 | USD 393.11 million |
| Market structure | Fragmented |
| YoY growth 2022-2023 (%) | 2.56 |
| Regional analysis | APAC, North America, Europe, Middle East and Africa, and South America |
| Performing market contribution | APAC at 45% |
| Key countries | US, Canada, China, Russia, and the UK |
| Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Application
Market Segmentation by Type
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers,
Challenges, &
Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide
actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email:
[email protected]
Website:
SOURCE Technavio
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