The pigging valves global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Pigging Valves Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
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 growth in the historic period can be attributed to industry growth, regulatory compliance, infrastructure development.
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%. The growth in the forecast period can be attributed to emerging markets, focus on energy efficiency, r&d investments. Major trends in the forecast period include digitalization and iot integration, automation and robotics, remote operation and monitoring, customization and modular design, collaborations and partnerships, global market expansion.
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Scope Of Pigging Valves Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
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.
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
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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Regional Insights –
Middle East was the largest region in the pigging valves market in 2023. The regions covered in the pigging valves market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
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
Table of Contents
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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