Global Pipeline Pigging Systems Market 2018-2022| Economic Benefits of Pipeline Transportation to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Oct 9, 2018-- analysts forecast the global pipeline pigging systems market to grow at a CAGR of nearly 5% during the forecast period, according to their latest market research report.
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Technavio has published a new market research report on the global pipeline pigging systems market for the period 2018-2022. (Graphic: Business Wire)
Development of intelligent pigs is one of the major trends being witnessed in the . Intelligent pigs are also called smart pigs or in-line inspection pigs. Intelligent pigs use several methods for inspecting pipelines. The sizing of pigs employs one or more notched metal plates as gauges. These pigs are used to find any evidence of internal or external corrosion, laminations, cracks, or any other defects.
According to Technavio analysts, one of the key factors contributing to the growth of the global pipeline pigging systems market is the economic benefits of pipeline transportation:
Global pipeline pigging systems market: Economic benefits of pipeline transportation
The primary objective of pipeline transportation is to ensure secure movement of the product inside the pipelines towards the intended destinations. Cost efficiency, fewer safety concerns, and employment are a few other primary benefits that are associated with the pipeline transportation. These not only benefit the oil and gas companies but also the end-users.
According to a senior analyst at Technavio for research on energy storage, “In countries such as Canada, the pipeline industry has been supporting many families by creating jobs for people. Thousands of people are employed in the pipeline industry across the country. About one-third of these jobs are in Alberta, one-fourth in Ontario, and one-fifth in Saskatchewan. The remaining jobs are spread across the rest of Canada.”
Global pipeline pigging systems market: Segmentation analysis
The global pipeline pigging systems market research report provides market segmentation by application (gas and oil), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The gas segment held the largest market share in 2017, accounting for nearly 83% of the market. This application segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2017 with a market share of nearly 78%. This region is expected to dominate the market through 2022, with an increase in its market share by nearly 2%.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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INDUSTRY KEYWORD: ENERGY OIL/GAS
SOURCE: Technavio Research
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PUB: 10/09/2018 03:16 PM/DISC: 10/09/2018 03:16 PM