Press release
Pigging Valves Industry Set to Achieve $7.57 Billion Milestone by 2029 | Steady 9.5% CAGR
Pigging Valves
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What Is the Long-Term Growth Forecast for the Pigging Valves Market Size 2025?_x000D_
In recent years, the market size of pigging valves has witnessed robust growth. The market, which is expected to rise from $4.88 billion in 2024 to $5.26 billion in 2025, will experience a compound annual growth rate (CAGR) of 7.7%. This growth observed in the historic period can be credited to the expansion of the industry, compliance with regulations, and infrastructure development._x000D_
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What CAGR is Forecasted for the Pigging Valves Market Through 2029?_x000D_
In the coming years, the pigging valves market is anticipated to experience robust growth, predicted to expand to $7.57 billion by 2029, with a compound annual growth rate (CAGR) of 9.5%. The projected growth during this period can be associated with emerging markets, emphasis on energy efficiency, and investments in research and development. Notable trends within this forecast period encompass digitalization and the integration of IoT, automation and robotics, remote operation and monitoring, personalised and modular design, collaborations and partnerships, and global market expansion._x000D_
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What Are the Critical Factors Driving Pigging Valves Market Development?_x000D_
The anticipated rise in oil and gas exploration activities is set to drive the expansion of the pigging valve market. These activities facilitate oil and gas extraction from beneath the earth's surface, and as exploration intensifies, more pipelines are required to extract and transfer the yield. Pigging valves are crucial in this process as they connect these pipes before the pipeline integration phase. For example, the Indian Brand Equity Foundation, a government agency in India, reported in August 2024, that the government has introduced policies to cater to the escalating demand, including permitting 100% foreign direct investment (FDI) in areas like natural gas, petroleum products, and refineries. The FDI threshold for public sector refining ventures has also been raised to 49%, attracting both local and foreign investors, like Reliance Industries Ltd (RIL) and Cairn India. This sector is predicted to lure $25 billion in investment for exploration and production purposes. With its 23 refineries, India is currently a refining powerhouse and is planning further expansion to encourage foreign investment in export-focused infrastructure like product pipelines and export terminals._x000D_
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How Does the Pigging Valves Market Break Down Across Major Segments?_x000D_
The pigging valves market covered in this report is segmented - _x000D_
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1) By Type: Bypass Pigging Valves, Shutoff Pigging Valves_x000D_
2) By Technology: Ultrasonic piping, Magnetic flux piping, Caliper_x000D_
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_x000D_
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Subsegments:_x000D_
1) By Bypass Pigging Valves: Manual Bypass Pigging Valves, Automated Bypass Pigging Valves, Pneumatic Bypass Pigging Valves _x000D_
2) By Shutoff Pigging Valves: Manual Shutoff Pigging Valves, Electric Shutoff Pigging Valves, Pneumatic Shutoff Pigging Valves _x000D_
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What Are the Major Trends Transforming the Pigging Valves Industry?_x000D_
Leading firms in the pigging valve market are striving to innovate new products like Pig Ball Valve Systems, aiming to cater to consumer needs. The Pig Ball Valve System, a particular type of valve, is utilized in pipeline pigging operations predominantly in sectors like oil and gas, petrochemicals, and wastewater. For example, BATU Valve, a key innovator from Turkey in the oil and gas sector, launched Pig Ball Valve Systems in June 2024. These systems provide a compact, effective solution, boosting operational efficiency and minimizing environmental impact. As the sector leans towards sustainable practices, such state-of-the-art technologies are poised to revolutionize pipeline maintenance procedures. The quest in the oil and gas industry for pioneering pipeline maintenance technologies is driven by the need to reconcile energy requirements with environmental considerations. While traditional pigging systems have proven successful, they encounter hurdles such as significant infrastructure and environmental issues._x000D_
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Which Players Are Driving Innovation in the Pigging Valves Market?_x000D_
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 _x000D_
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Which Regions Are Driving Global Pigging Valves Market Expansion?_x000D_
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_x000D_
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