Ocean View, DE -- (SBWIRE) -- 05/26/2020 -- Increasing inclination towards the adoption of smart inspection technologies is slated to impel the global pipeline pigging services market size over the forthcoming years. Moreover, the introduction of favorable regulatory mandates and policies would further provide a positive expansion trajectory for the overall industry outlook.

In addition, growing investments in the field of pipeline infrastructure development, in order to offset the rapidly proliferating oil and gas trade across the globe, would also complement the global market share through the analysis period.

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A research report by Global Market Insights Inc. estimates the global pipeline pigging services market is likely to exceed a valuation of $2.4 billion by the end of 2026. The intelligent pipeline pigging service segment is anticipated to observe significant growth over the coming years owing to its ability to simultaneously carry out multiple operations like pipeline inspection, cleaning without interrupting the product flow.

Additionally, favorable governmental mandates and policies regarding pipeline operations and oil spillage throughout the world would further fuel the business outlook. Furthermore, technological advancements in the industry and elevated operational efficiency is further likely to augment the service demand over the coming years.

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In terms of the end-use segment, natural gas transportation through pipeline is fast emerging as a major trade route across several important economies. As per the IEA (International Energy Agency) the global production of gas increased by 4% in 2018 in comparison to 2017, further accelerating the demand for a robust pipeline infrastructure.

In addition, the exponential growth of the global natural gas industry is also pushing the need for effective and efficient pipeline inspection services as well as integrity management operations, which is expected to further propel the pipeline pigging services market growth through 2026. Geographically, the Asia Pacific and North America pipeline pigging markets are projected to foresee a significant expansion in revenue growth over the coming years. The Asia Pacific is witnessing an upsurge in the pipeline infrastructure demand, primarily led by the surging petroleum product trade flows in the region in recent years.

In order to maintain the trade flow effectively between nations, the transportation network needs to be in an optimal condition, which is a key factor fueling the expansion of inspection services throughout the Asia Pacific. Additionally, the region's significantly growing pipeline infrastructure along with the increasing demand for efficient and effective inspection services is further projected to augment the APAC pipeline pigging services market share in the coming timeframe. Meanwhile, growing focus towards shale gas and oil exploration activities is likely to propel the North America pipeline pigging services market trends over the analysis period. The increasing oil and gas exploration activities are creating a need for the expansion of the region's pipeline network to ensure a sustainable way for transporting materials, which is subsequently generating the need for sophisticated pipeline pigging services in the region.

The competitive landscape of the pipeline pigging services market is inclusive of players such as CIRCOR International, Inc., ROSEN Group, Applus+, and TD Williamson, Inc., among others.