Press release
Pigging Valves Market Set to Grow at 9.5% CAGR, Reaching New Heights in Pipeline Efficiency
Pigging Valves Market
The global pigging valves market, valued at USD 5.02 billion in 2023, is projected to grow at a compound annual growth rate (CAGR) of 9.5%, reaching USD 9.48 billion by 2030. This growth is primarily driven by the escalating demand in the oil and gas industries, coupled with advancements in pipeline transportation automation.
► Competitive Landscape
The market features several key players contributing to its dynamic landscape, including HARTMANN VALVES GmbH, Argus Machine Co. Ltd., RMA Pipeline Equipment Ltd., PBM Valve, Pigging Solutions, Frontier Valve International, Energas Technologies (Pvt) Limited, Smith Flow Control, Tiger Valve Company (TVC), SAMSON Controls Inc., and Jag Valves.
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► Regional Insights and Developments
United States: Growth and Consolidation
In North America, particularly the United States, there has been a surge in pipeline development, especially in the Permian Basin of West Texas and New Mexico. Notable projects include the USD 5 billion, 600-mile Atlantic Coast Pipeline, a joint venture involving Dominion Energy, Duke Energy, Piedmont Natural Gas, and Southern Company Gas. These initiatives underscore the region's commitment to enhancing its pipeline infrastructure.
Asia Pacific: Opportunities and Trends
The Asia Pacific region is witnessing significant growth in the pigging valves market, driven by rapid industrialization in countries like China, India, and Japan. The increasing demand for hydrocarbons and petrochemical products has led to substantial investments in pipeline infrastructure to ensure efficient transportation.
Middle East and Africa: Trends and Updation
The Middle East and Africa are emerging as lucrative markets for pigging valves, attributed to the rising exports of crude oil and petroleum products from countries such as Saudi Arabia, Iran, Iraq, and the UAE. The region's focus on enhancing pipeline infrastructure to support these exports is expected to boost the demand for pigging valves.
Europe: Growth and Consolidation
Europe is experiencing growth in the pigging valves market, driven by major oil and gas pipeline transportation projects. Increased investments in the petrochemical, pharmaceutical, and power industries are also contributing to the market's expansion.
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► Recent Mergers and Acquisitions
The pigging valves market has seen strategic mergers and acquisitions aimed at expanding product portfolios and geographical presence. For instance, companies are engaging in partnerships and acquisitions to enhance their market position and cater to a broader customer base.
► Pigging Valves Market Segmentation
by Valves Type
Shut-Off Valve
Bypass Valve
The market for pigging valves is divided into two segments: bypass valves and shut-off valves. With 55% of the market, Bypass Pigging Valve is the industry leader. To appropriately stop or restart the flow of potentially hazardous fluids or gases, shut-off valves are utilized. They separate subsystems in an industrial automation processor by limiting pressurized air while not in use. Numerous names exist for a shut-off valve. Other common names include lockout valve, cut-off valve, shutdown valve, emergency shutdown valve, ball valve, and exhausting ball valve.
by Technology
Ultrasonic Piping
Magnetic Flux Leakage Piping
by Application
Oil & Gas
Petrochemicals
Chemicals
Food & Beverages
Others
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► Pigging Valves Market Key Players
1. Jag Valves
2. Hartmann Valves GmbH
3. Tiger Valve Company
4. CGIS
5. Sofis valve operation.
6. Frontier Valve International
7. PBM Valve
8. Argus Machine Co. Ltd
9. SAMSON Controls Inc.
10. Pipetech Corporation
11. Master Flo Valve Inc.
12. RMA Pipeline Equipment
13. PHOENIX SPECIALTY INC.
14. Master Flo Valve
15. Pigging Solutions
16. Energas Technologies (Pvt) Ltd.
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