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Pigging valves are an essential component in the global pipeline transportation industry. It used in a wide variety of applications for pipeline cleanup, prevention of solid accumulation and corrosion, liquid management, and inspection. The growing demand for industrial automation to curb oil leakages and to gain better control over liquid management is projected to boost the pigging valves market. Pigging valve not only helps to integrate the operation of fluid management without any disturbance in the fluid flow but also increases the efficiency of pipeline transportation of hydrocarbons, chemicals, and petrochemicals. As the demand for oil & gas continues to grow owing to extensive economic growth across the world, resulting in increased pipeline construction. This will certainly propel the industry size.
Pigging valves market is divided into valve type, technology, and application Valve type is bifurcated into bypass and shut off pigging valve. The bypass valve is essential to control the pressure of the system by diverting the portion of fluid flow while shut-off valves are used to stop the fluid flow in case of detection of the dangerous event. Both valves are necessary for several industry verticals such as oil & gas, petrochemicals, chemicals, food & beverages, and others.
Pipeline transportation plays a significant role in ferrying essential hydrocarbons and petrochemical products. Pigging valves are majorly used in the pipeline industry to curb the leakage and to gain better control over the transportation of fuel through pipes. In addition, the enormous exploration & production activities around the world to meet the growing demand for oil & gas is projected to boost the pigging valves market.
The construction of pipelines requires a detailed analysis of the site as many environmental aspects that need to be considered while laying the pipeline. In addition, pipeline construction requires a huge investment, which might hamper the growth of the pigging valves industry size.
Key Market Driver -
Demand for better control over pipeline transportation through automation
Key Market Restraint -
Pipeline construction requires detailed study for feasible operations
The notable pigging valves companies in the world are Hartmann Valves GmbH, Tiger Valve Company, Master Flo Valve Inc., Argus Machine Co. Ltd., Camtech Manufacturing FZCO, ChaodaUSA, Jag Valves, Samson Controls Inc., and IMI PBM.
The pigging valves market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Pipeline construction has increased throughout North America and mainly concentrated around major U.S. shale gas basin, primarily the Permian Basin of West Texas and New Mexico. For instance, USD 5 billion, 600 miles Atlantic Coast Pipeline developed through a joint venture between Dominion Energy, Duke Energy, Piedmont Natural Gas, and Southern Company Gas. Pipelines are majorly used in hydrocarbon, petrochemical, and chemical industries, which expected to leverage the industry size in North America. In Europe, major oil & gas pipeline transportation projects are in the pipeline. In addition, growing investment in petrochemical, pharmaceuticals, and power industries likely to offer a profitable market for the growth of the market size. The exponential population growth in the Asia Pacific increased the demand for hydrocarbons and petrochemical products. Hence, the growing pipeline infrastructure for feasible transportation of oil & gas is likely to accrue the pigging valves market. The Middle East and Africa show considerable growth for the pigging valves market owing to rising Capex in the downstream sector.
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