Pigging Valves Market

Pigging Valves Market Size (2023-2028):

The Global Pigging Valves Market size was worth US$ 4.61 billion in 2022 and is anticipated to have a value of US$ 8.22 billion by 2028 and to reach the register a CAGR of 10.42% during 2023-2028.

Market Drivers:

Transporting critical hydrocarbons and petrochemical products via pipeline is very important. Pigging valves are frequently employed in the pipeline sector to stop leaks and improve control over fuel transportation through pipes. Additionally, it is anticipated that the market for pigging valves would develop as a result of the massive exploration and production efforts being undertaken globally to fulfill the rising demand for oil and gas. The growing industrial automation in a variety of industries, including chemicals, oil, gas, and pharmaceuticals, is driving up demand for pigging valves. Due to the numerous oil and gas extraction processes taking place on the global market, pigging valves are in great demand. During the forecast period, it is also expected that demand for the oil and gas industries will increase. As a result, the market for pigging valves globally is growing mostly due to high costs.

Rural areas are seeing a rapid increase in demand for oil and gas products, particularly in developing nations like China, India, Brazil, and Australia. In order to shorten transportation times and lower costs, governments in a number of countries are concentrating their efforts on enhancing pipeline infrastructure.

Market Restraints:

Pigging valve sales are being constrained on the global market despite the fact that they have many benefits. These issues include expensive starting prices, high maintenance costs, and a lack of flexibility because they can only travel through bends with large-radius pipelines and others.

Additionally, due to high costs and the requirement for significant studies for pipeline construction due to the number of environmental factors that must be taken into account before laying pipelines, pipeline construction operations are declining in many emerging countries. Sales of pigging valves are being restricted as a result.

Market Recent Developments:

• Hartmann Valves GmbH achieved a primus award for its new innovative pigging ball valve. Pigs may be launched and received safely and easily even when there is (residual) pressure in the main line due to the recent Hartmann pigging ball valve with several safety barriers to the sluice room. The sluice chamber is segregated in this new type of building by at least two additional seat rings that have been placed.

PIGGING VALVES MARKET REPORT COVERAGE:

Market Segmentation: 

Pigging Valves Market - By Valve Type:

• Bypass valve
• Shut-off valve

Shut-off valves and bypass valves are the two market segments for pigging valves. Bypass Pigging Valve, which holds a 55% market share, is the market leader. To safely stop or restart the flow of potentially hazardous fluids or gases, shut-off valves are utilized. They are employed to limit compressed air in an industrial automation processor to isolate sub-systems when not in use. The term "shut-off valve" has many different meanings. Bypass valves direct steam from one area of the system—such as power generation or process steam from the production of paper and pulp—to reheat or exhaust pipework in order to safeguard equipment from overpressure.

Pigging Valves Market - By Application:

• Oil and Gas
• Chemicals
• Food and Beverages
• Others

Based on application, the oil and gas segment tends to be the dominant segment in the global pigging valve market during the forecast period. Pigging valves are used for a variety of purposes, including liquid management, pipeline cleanup, inspection, corrosion protection, and the removal of solid accumulations like sediments. They are regarded as a crucial part of the pipeline transportation industry. Therefore, it is anticipated that rising industrial growth and rising adoption of automated technologies in sectors like chemical, pharmaceutical, and oil & gas refining, among others, will speed up the global market for pigging valves.

Pigging Valves Market Regional Analysis: 

The Global Pigging Valves Market Report includes the segmentation of Regions:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

The markets for pigging valves in the Middle East and Africa are anticipated to grow significantly. The demand for crude oil, natural gas, and petroleum products has grown significantly in recent years as a result of an expansion in the global vehicle fleet as well as expanding industrialization. As a result, exports of the aforementioned goods are increasing significantly to significant producing and refining nations including Saudi Arabia, Iran, Iraq, the UAE, and Iraq.

Major oil and gas pipeline transportation projects are currently in the works across Europe. Additionally, increasing investments in the power, petrochemical, and pharmaceutical industries are projected to provide a lucrative market for the expansion of the market size.

The demand for hydrocarbons and petrochemical goods surged due to the Asia Pacific region's exponential population rise. Therefore, the market for pigging valves is projected to increase as a result of the expanding pipeline infrastructure for the practical transportation of oil and gas.

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.