Impact of Covid-19 Outbreak on Intelligent Pigging Market
The intelligent pigging market has witnessed a negative impact in the recent months owing to the lockdowns imposed globally to curb the spread of COVID-19. Manufacturing plants were also shut down on government orders for a brief period, which has hampered the product demand since December 2019. However, the negative impact occurred owing to the non-availability of the workforce and is anticipated to dissipate in the coming months, while the product demand is anticipated to grow in the long term. Intelligent pigging is a technique utilized to inspect the interior part of pipelines and gather information about the presence and location of bends, corrosion, and other glitches in the pipelines. The complex instructions for mandatory inspection of pipelines and the implementation of stringent government regulations have led to the increasing demand for intelligent pigging services for pipelines. Pipeline operators require access to data to reduce risks and ensure safety effectively by evaluating signs of corrosion, metal loss, and other physical defects.
FIGURE: LENGTH OF OIL & GAS PIPELINE ACROSS THE GLOBE (Kms)
Increasing strictness in government mandates and regulations about pipeline inspection is one of the major drivers for the growth of the global intelligent pigging market. For instance, as per the US Environmental Protection Agency (EPA), safety regulations for operating pipelines are based on various factors under inspection, including corrosion control, pressure testing of the pipes, accident reporting, welding, emergency preparedness, and construction. The Pipeline and Hazardous Materials Safety Administration (PHMSA) operates an Integrity Management Program, which includes an inspection and repair program to pay special attention to pipelines that pass through high consequence areas and rough conditions. These regulations are driving the adoption of intelligent Pigging. The global intelligent pigging market is projected to grow at a significant rate in the coming years owing to the rising concerns over the safety of pipelines and energy infrastructure. The oil & gas industry has witnessed major incidents of pipeline leakages and damages in the past, resulting in major accidents and product losses. Therefore, it is necessary to inspect pipeline infrastructure, particularly for oil & gas companies. Also, the pipelines may generate anomalies such as rust and leakages due to not being in used for long periods and may need additional attention before the industries can restart their operations in the coming months. Thus, the intelligent pigging market is anticipated to grow at a significant rate in the next three years.
Source: Primary Experts, Secondary Sources, and MRFR Analysis
Source: Global Gas & Oil Network (GGON)