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Pigging Valves Market Growth Statistics, Regional Analysis, Top Players, Size, And Forecast To 2033
Pigging Valves Market Growth
As per the report, the pigging valves market size has grown strongly in recent years. It will grow from $4.52 billion in 2023 to $4.95 billion in 2024 at a compound annual growth rate (CAGR) of 9.5%. The pigging valves market size is expected to see strong growth in the next few years. It will grow to $7.08 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%.
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Fueling Growth Oil And Gas Exploration Activities Boosting The Pigging Valve Market
The growth in oil and gas exploration activities is expected to propel the growth of the pigging valve market going forward. Oil and gas exploration activities refer to those activities that are used to extract oil & gas from the ground. As oil and gas exploration efforts increase, additional pipelines will be built to extract and transport the resulting oil and gas. Pigging valves are used to connect these pipes in preparation for pipeline integration. For instance, according to the Indian Brand Equity Foundation, an India-based government agency, in October 2021, the Union Ministry of Petroleum and Natural Gas approved $3.8 billion to increase refining capacity. Also, in 2021, Bharat Petroleum invested $13.66 billion in upstream oil and gas exploration and production. Therefore, the increasing oil & gas exploration activities are driving the growth of the pigging valves market.
New Product Innovations Shaping The Future Of The Pigging Valve Market
New product innovations are the key trend gaining popularity in the pigging valve market. Major companies operating in the pigging valve sector are focused on introducing new products to meet consumer demand. For instance, in November 2021, Hartmann, a Germany-based provider of pigging valves and wellheads introduced a new pigging ball valve with various safety barriers to the sluice chamber, which contributes to safe and easy ping launching and receiving even when residual pressure exists in the main line. To stop spills, these valves automatically lock if there is a leak.
The pigging valves market covered in this report is segmented -
1) By Type: Bypass Pigging Valves, Shutoff Pigging Valves
2) By Technology: Ultrasonic piping, Magnetic flux piping, Caliper
3) By End User: Oil and Gas Industry, Pharmaceutical, Chemical Industry, Refining and Petrochemical Industries., Water, Sewage and Effluent, Food-Processing Industries, Other End-Users
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Major companies operating in the pigging valves market report are Jag Valves, Hartmann Valves GmbH, Frontier Valve International Ltd., Tiger Valve Company, Argus Machine Co. Ltd., Master Flo Valve Inc., SAMSON Controls Inc., Pipetech Corporation Ltd., Sofis valve operation, Phoenix Specialty Inc., Camtech Manufacturing FZCO, RMA Rheinau GmbH & Co. KG, Tulsa Valve Inc., Energas Technologies (Pty) Ltd., Smith Flow Control Ltd., Pigging Solutions LLC, Circor International Inc., Swagelok Company, Valvitalia spa, Oliver Valves pvt. Ltd., Apollo Valves, Colson X-Cel Ltd., The Lee Company, HOKE, Hy-Lok Corporation, Dwyer Instruments LLC, Crane Co., Rotork plc, NIBCO Inc., The weir Group PLC
Contents of the report:
1. Executive Summary
2. Pigging Valves Market Report Structure
3. Pigging Valves Market Trends And Strategies
4. Pigging Valves Market - Macro Economic Scenario
5. Pigging Valves Market Size And Growth
…..
27. Pigging Valves Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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