Global Industrial Valves Market By Material Type (Steel, Cast Iron, Alloy Based, Cryogenic, Others), By valve type (Ball, Butterfly, Gate, Globe, Plug, Diaphragm, Safety) By End-user (Oil & Gas, Water & Wastewater, Energy & Power, Chemical, Food & Beverages, Pharmaceutical, Building and Construction, Others) By Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa) – Industry Trends and Forecast to 2024
The Global Industrial Valves Market accounted to USD 67.8 billion in 2016 growing at a CAGR of 3.8% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Market Definition: Global Industrial Valves Market
Industrial valves are devices that control the flow and pressure of liquids and gases within a system. Valves are used to control the flow of liquids and gases in the piping systems and it should be checked consistently to avoid any risks such as leakage and corrosion.
On the other hand, valves used in industries can be operated manually or automatically. The latest trend in this market is growing demand in oil and gas production, high demand in APAC countries, smart cities development in developing countries will further grow the market.
There is need of industrial valves for several industries like Oil & Gas, Water & Wastewater, Energy & Power, Chemical, Food & Beverages, Pharmaceutical, Building and Construction, Otherswill create a huge market for the industrial valves.
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Major Market Drivers and Restraints:
- Growing Demand in Oil & Gas Production
- High Demand for Energy in APAC
- Focus on Smart Cities in Emerging Economies Such as China and India
- Rising Demand for Automation
- Lack of Standardization in Certifications and Policies
- Slowdown in Oil & Gas and Mining Industries
- Downtime Due to Repairing of Valves
Market Segmentation: Global Industrial Valves Market
On the basis of material type the industrial valves marketis segmented into Steel, Cast Iron, Alloy Based, Cryogenic, Others. The alloy based market is expected to grow in the forecasted period.
On the basis of valve type the industrial valves market is segmented into Ball, Butterfly, Gate, Globe, Plug, Diaphragm, and Safety.The gate market is expected to grow in the forecasted period.
On the basis of end-user the industrial valves market is segmented into Oil & Gas, Water & Wastewater, Energy & Power, Chemical, Food & Beverages, Pharmaceutical, Building and Construction, Others. The Oil & gas market is expected to grow in the forecasted period.
On the basis of geography, industrial valves marketreport covers data points for 28 countries across multiple geographies such as North America & South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
In 2017, North America is expected to dominate the market.
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Competitive Analysis: Global Industrial Valves Market
Industrial Valves Market is highly fragmented and is based on new product launches and clinical results of products. Hence the major players have used various strategies such as new product launches, clinical trials, market initiatives, high expense on research and development, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market.
The report includes market shares of flow cytometry market for global, Europe, North America, Asia Pacific and South America.
Major Market Competitors: Global Industrial Valves Market
Some of the major players operating in industrial valves market areAVK Holding A/S, Avcon Controls Pvt Ltd, Cameron – Schlumberger, Crane Co., Emerson, Flowserve Corporation, Forbes Marshall, IMI PLC., Kitz Corporation, Metso Corporation,Neway Valves (Suzhou) Co., Ltd., Pentair PLC,Velan Inc., Samson AG, The Weir Group, PLC, Spirax-Sarco Engineering PLCamong others. In 2017, Flowserve Corporationsinged the deal withDivest Gestra AG, to sell products of the company.
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