Pipeline Pig Market: Introduction
- A pipeline pig is used in a variety of pipeline maintenance applications. Some of these include cleaning, drying, batching, liquid displacement, and product removal
- Pipeline pigs are designed to help maintain efficiency; control corrosion; and prevent product contamination and mixing if there are multiple products in the line. Pipeline pigs are used for displacement of air to prepare for pipeline hydrostatic testing and remove water afterward. Furthermore, these pigs are employed for pipeline inspection and to locate pipeline damage, defects, and debris.
Key Drivers and Restraints of Global Pipeline Pig Market
- Rapid globalization and industrialization is a key driver of the global pipeline pig market. Significant increase in the demand for oil and gas across the globe has forced companies to increase the production, upgrade the existing infrastructure, and minimize the downtime. Hence, rise in the demand for fuel is one of the major drivers of the global pipeline pig market.
- Growth in discovery of new oil and gas fields is expected to drive the global pipeline pig market during the forecast period. Spending on oil and gas exploration rose by 20% and about 140 new oilfield discoveries were made in 2018. These discoveries are expected to boost the development of oil and gas infrastructure in the near future. Thus, increase in discovery of new oil and gas fields is estimated to drive the global pipeline pig market during the forecast period.
- Geopolitical uncertainties and volatile prices are major restraints of the global pipeline pig market. Prices of crude oil are affected by events that can potentially disrupt the supply of oil and gas. These include geopolitical and climate-related issues. Geopolitical events is a major factor that can create uncertainty about future supply of or demand for oil and gas. This can lead to higher volatility in prices of oil and gas. This volatility affects the production of oil and gas. This factor is expected to hamper the global pipeline pig market during the forecast period.
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Global Pipeline Pig Market: Segmentation
- The global pipeline pig market can be segmented based on type, size, and application
- In terms of type, the global pipeline pig market can be segmented into foam pig, cleaning pig, gauging pig, and others. The foam pig segment is expected to expand at a high CAGR during the forecast period, due to high demand from oil and gas companies.
- Based on size, the global pipeline pig market can be segmented into below 30”, 31” – 60”, and above 60”. The 31” – 60” and above 60” segments are expected to register a high CAGR during the forecast period, due to high demand from end-users.
- In terms of application, the global pipeline pig market can be segmented into cleaning, de-watering, and swabbing. The cleaning segment is expected to expand at a rapid pace during the forecast period.
Global Pipeline Pig Market: Regional Segmentation
- Based on region, the global pipeline pig market can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
- North America dominated the global pipeline pig market in 2018. This trend is projected to continue during the forecast period, due to increased production of oil and gas in the U.S. and Canada. The presence of a large number of private oil companies in North America is likely to drive the pipeline pig market in the region during the forecast period.
- Middle East & Africa is a major oil-producing region in the world. Offshore developments and discoveries of new oil and gas fields by countries such as Qatar, the UAE, and Saudi Arabia are anticipated to dominate the pipeline pig market in the Middle East during the forecast period.
- The market in Latin America, Europe, and Asia Pacific is estimated to expand at a considerable pace during the forecast period. Increase in investments in offshore exploration activities by developing counties such as China, India, and Brazil is expected to drive the pipeline pig market in Asia Pacific and Latin America during the forecast period.
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Key Players Operating in Global Market:
- Pigtek Ltd
- T.D. Williamson, Inc.
- Apache Pipeline Products
- Pipeline Pigging Products
- iNPIPE PRODUCTS
- Pipetech Corporation
- Dacon Inspection Technologies
- Drinkwater Products
- Propipe Limited
Global Pipeline Pig Market: Research Scope
Global Pipeline Pig Market, by Type
- Foam Pig
- Cleaning Pig
- Gauging Pig
Global Pipeline Pig Market, by Size
- Below 30”
- 31” – 60”
- Above 60”
Global Pipeline Pig Market, by Application
Global Pipeline Pig Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.