The shift in trend for natural gas and high demand for efficient supply system is expected to drive the demand for the Global Pipeline Pig Market in the forecast period, 2022-2026.
According to TechSci Research report, “Pipeline Pig Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2016-2026 Segmented By Type (Foam Pipeline Pigs, Mandrel Bodied Pigs, Urethane Pigs), By End User (Oil Pipeline, Gas Pipeline), By Application (Cleaning, Separation, Inspection) and By Region”, the global Pipeline Pig market is anticipated to grow at a rate of significant CAGR for the forecast period, 2022-2026. Continuous advancements in the oil and gas industry and aging pipeline systems around the globe require regular maintenance and inspection to detect fault defects during the pipeline transportation process to ensure the proper on-site operation is fueling the market demand. The increase in the applications across various end-user industries such as oil and gas, chemical, and others is fueling the need for pipeline pegging as it aids in maintaining a smooth operation.
However, fluctuations in the crude oil prices and the uncertainties in the geographical presence of oil and gas reserves may restrain the global Pipeline Pig market for the forecast period.
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The global Pipeline Pig market is segmented into type, end user, application, competitional landscape, and regional distribution.
On the basis of type, the global Pipeline Pig market is divided into foam Pipeline Pigs, mandrel bodied pigs, and urethane pigs. The foam Pipeline Pigs segment is expected to hold the largest market share for the forecast period, 2022-2026. Foam Pipeline Pigs have higher wear and tear resistance and can be used for cleaning, swabbing, and de-watering operations. These have lower costs than the other Pipeline Pigs used in the Pipeline Pig and also require low maintenance.
On the basis of end user, the global Pipeline Pig market is divided into oil pipeline and gas pipelines. The gas pipeline segment is expected to witness the fastest incremental growth for the next five years. Ongoing shale gas development, offshore deep-water exploration activities in the oil and gas industry, and the latest technologies are expected to drive the demand for the gas pipeline segment in the next five years. Widespread distribution of petroleum products and development of the pipeline infrastructure for transportation, gathering, and distribution of end products is expected to contribute to the high market demand. The rising demand from the industrial and domestic sectors and the efforts made by the market players for efficient distribution of gas as an energy source are fueling the length of the pipelines around the globe.
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On the application, the global Pipeline Pig market is divided into cleaning, separation, and inspection. The cleaning segment is expected to account for significant market share for the forecast period. Cleaning of the pipeline is essential to ensure the free-flowing channels. Cleaning of pipeline helps in lowering the occurrence of pipeline failures and clears the formation of any deposit to allow uninterrupted flow in the pipeline.
On the basis of regional analysis, North America, followed closely by the Middle East and Africa region, is expected to dominate the global Pipeline Pig market for the next five years. The presence of major oil companies in the region and the use of advanced technology in the oil exploration and extraction process in harsh environments is driving the demand for the global Pipeline Pig market. The majority of the electricity generating companies use natural gas as a fuel. The growing efforts to find unexplored hydrocarbon resources even in low permeability shale formations make the United States one of the leading oil and gas producers worldwide. The Middle East and Africa region is the largest oil-producing region around the globe. Exploration and discovery of oil fields in the countries including Saudi Arabia, Qatar, UAE, and the use of advanced techniques for oil exploration are accelerating the global Pipeline Pig market growth.
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“The growing technological advancements and the high-end investments by the market players to adopt smart solutions during the oil and gas exploration and extraction are expected to create lucrative opportunities for the global Pipeline Pig market. Use of advanced technologies such as ultrasonic, magnetic flux leakage, caliper in intelligent or smart pigging methods. Additionally, the rapid industrialization and urbanization in the developing economies and growing energy requirements are expected to propel the global Pipeline Pig market growth till 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research based Global management consulting firm.
“Pipeline Pig Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2016-2026 Segmented By Type (Foam Pipeline Pigs, Mandrel Bodied Pigs, Urethane Pigs), By End User (Oil Pipeline, Gas Pipeline), By Application (Cleaning, Separation, Inspection) and By Region”, has evaluated the future growth potential of global Pipeline Pig and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global Pipeline Pig market.
We cover Following topics in this report
· Pipeline Pig Market Outlook
· Pipeline Pig Market Size
· Pipeline Pig Market Share
· Pipeline Pig Market Growth
· Pipeline Pig Market Forecast
· Pipeline Pig Market Future
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