The intelligent pigging market will register a CAGR of close to 5% by 2023
NEW YORK, April 29, 2019 /PRNewswire/ --
About this market
Several additional applications of intelligent pigging over traditional pigging are accelerating the market growth during the forecast period. Intelligent pigging provides accurate data about the condition of pipelines. Furthermore, it provides numerous advantages due to the increasing use of several methods to perform inspection and cleaning simultaneously, while saving money and time for oil and gas companies. These benefits will further contribute to the significant growth of intelligent pigging during the forecast period. Analysts have predicted that the intelligent pigging market will register a CAGR of close to 5% by 2023.
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Market Overview
Additional applications of intelligent pigging over traditional pigging
One of the growth drivers of the global intelligent pigging market is the additional applications of intelligent pigging over traditional pigging. Several benefits of the intelligent pigging techniques over the traditional one are increasing the adoption of the former in many oil and gas pipelines, which will drive the growth of the market.
Rise of renewable energy
One of the challenges in the growth of the global intelligent pigging market is the rise of renewable energy. The shift in focus to renewable sources of energy will reduce the dependence on fossil fuels such as oil and natural gas for power generation, inhibiting the growth of the oil and gas industry, which will hamper the market growth.
For the detailed list of factors that will drive and challenge the growth of the intelligent pigging market during 2019-2023, view our report.
Competitive Landscape
The market appears to be moderately fragmented with the presence of several market players. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market's competitive landscape and offering information on the products offered by companies.
Read the full report: https://www.reportlinker.com/p05772586/?utm_source=PRN
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