LONDON--(EON: Enhanced Online News)--Technavio analysts forecast the global pipeline pigging systems market to grow at a CAGR of almost 4% during the forecast period, according to their latest report.
“Proper implementation of corrosion management strategy is of prime essence for monitoring, inspection, and mitigation of corrosion. The focus must be on practical management and resource identification to implement effective corrosion management.”
The research study covers the present scenario and growth prospects of the global pipeline pigging systems market for 2017-2021. Technavio analysts have presented various facets of the market with a focus on identifying the key industry influencers.
The demand for pipeline pigging systems will increase during the forecast period, owing to rising demand for oil and gas pipeline projects, especially for gas pipelines and offshore locations due to the shift of oil and gas operations in more high pressure and deep water zones, and shift of world energy demand toward gas-based resources. The gradual depletion of land fossil fuel resources has encouraged exploration and production activities in harsher and deep water zones. More emphasis on clean energy has triggered the wider use of natural gas resources.
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Technavio energy analysts highlight the following three factors that are contributing to the growth of the global pipeline pigging systems market:
Increasing corrosion in oil and gas pipelines
With ongoing research into corrosion and technological progress in corrosion inspection and monitoring tools, there seems to be no progress in reduction of corrosion issues over the years. The oil and gas industry is operating a large global pipeline network in which corrosion poses a major problem.
Thanikachalam Chandrasekaran, a lead energy storage research analyst at Technavio, says, “Proper implementation of corrosion management strategy is of prime essence for monitoring, inspection, and mitigation of corrosion. The focus must be on practical management and resource identification to implement effective corrosion management.”
Economic advantages of pipeline transportation
The overall economic benefits of any form of transportation cannot be generically established, and these heavily depend on the project contours. However, studies over the past half century of studies have deduced and established the significant advantages of pipeline transportation in many of the concerned parameters. As the use of trucks and cars for the transportation of natural gas is highly debatable over medium to long distances, the discussion is limited to LNG and pipelines only.
“The transport of crude oil, natural gas, and condensate is more economical through long inter-country and cross country pipelines as compared to rail, road, or sea transportation. Thus, the transportation of crude oil, natural gas, and condensates will grow through pipeline mode, which should boost the global pipeline pigging systems market,” adds Thanikachalam.
Stringent government regulations
Pigging systems are used for conveying combustible or non-combustible materials, water, and gases through the system using pressure in the propellant in compliance with the regulations. There are many laws, guidelines, and regulations to design, install, and operate a pigging system.
In India, the Petroleum and Natural Gas Regulatory Board through a notification dated 2012 states that internal inspection tools with the capability of corrosion detection and anomalies from gouges, grooves, and dents should be detected by instrumented pigging or intelligent pigging.
- 3P Services
- Baker Hughes
- Dacon Inspection Services
- PII Pipeline Solutions
- LIN SCAN
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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