Press release
Pigging Valves Market Growth Accelerates: Strategic Forecast Predicts $7.79 Billion by 2029
Pigging Valves
What Will the Pigging Valves Industry Market Size Be by 2025?
The market size of pigging valves has seen a robust growth in the past few years. The market is anticipated to increase from $4.88 billion in 2024 to $5.32 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 9.0%. The significant growth seen in the historic period is due to factors such as industry expansion, adherence to regulations, and infrastructure advancement.
What's the Long-Term Growth Forecast for the Pigging Valves Market Size Through 2029?
The market size for pigging valves is anticipated to undergo robust expansion in the coming years, reaching $7.79 billion in 2029 with a compound annual growth rate (CAGR) of 10.0%. This projected increase during the forecast period can be linked to the rise of new markets, emphasis on energy efficiency, and investment in research and development. The market trends to look out for in the forecast period encompass digitalization and integration with the Internet of Things (IoT), automation and robotics, remote operation and monitoring, customization and modular architecture, collaborations and partnerships, and worldwide market expansion.
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What Are the Key Growth Drivers Fueling the Pigging Valves Market Expansion?
The surge in oil and gas exploration tasks is projected to drive the future growth of the pigging valve market. These exploration activities involve methods utilized to extract oil & gas from the earth. As efforts to explore oil and gas escalate, more pipelines will be established to extract and convey the resulting oil and gas. Pigging valves are employed to link these pipes ahead of pipeline integration. For example, the Indian Brand Equity Foundation, a government agency based in India, revealed in August 2024 that to accommodate growing demands, several policies have been enforced, including granting 100% foreign direct investment (FDI) in different sectors such as natural gas, petroleum products, and refineries. The cap on FDI for public sector refining projects has been raised to 49%. Attracting both local and global investors, such as Reliance Industries Ltd (RIL) and Cairn India, this sector is poised to draw in investments amounting to $25 billion for exploration and production. Boasting 23 refineries, India is already a hub for refining and intends to expand further to entice foreign investment in export-focused infrastructure, including product pipelines and export terminals.
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What Are the Key Trends Driving Pigging Valves Market Growth?
Prominent businesses in the pigging valve market are prioritizing the launch of innovative products like Pig Ball Valve Systems, in order to cater to the evolving needs of consumers. Utilized usually in pipeline pigging tasks within different industries such as oil and gas, petrochemicals and wastewater often employ a Pig Ball Valve System, which is a distinct kind of valve. For instance, BATU Valve, a leading firm in the oil and gas sector based in Turkey, unveiled Pig Ball Valve Systems in June 2024. These systems offer benefits like improved operational efficiency and lessened environmental footprint, making them an ideal, compact alternative. With the industry's increasing focus on sustainability, such advanced technologies are poised to revolutionize pipeline maintenance methods. The oil and gas sector is in pursuit of groundbreaking pipeline upkeep technologies that balance energy requirements and environmental awareness. Despite their efficacy, conventional pigging systems face hurdles like expansive infrastructure and environmental apprehensions.
How Is the Pigging Valves Market Segmented?
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
Subsegments:
1) By Bypass Pigging Valves: Manual Bypass Pigging Valves, Automated Bypass Pigging Valves, Pneumatic Bypass Pigging Valves
2) By Shutoff Pigging Valves: Manual Shutoff Pigging Valves, Electric Shutoff Pigging Valves, Pneumatic Shutoff Pigging Valves
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Which Companies Are Leading the Charge in Pigging Valves Market Innovation?
Major companies operating in the pigging valves market include 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, 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, Crane Co., Rotork plc, NIBCO Inc., The weir Group PLC
Which Regions Are Leading the Global Pigging Valves Market in Revenue?
Middle East was the largest region in the pigging valves market in 2024. The regions covered in the pigging valves market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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