Market Research Report
Industrial Valves Market by Material Type (Cast Iron, Steel, Cryogenic, Alloy Based), Size, Valve Type (Ball, Butterfly, Gate, Globe, Check, Plug), Industry (Oil & Gas, Water & Wastewater, Energy & Power), and Geography - Global Forecast to 2023
|Published by||MarketsandMarkets||Product code||329399|
|Published||Content info||189 Pages
Delivery time: 1-2 business days
|Industrial Valves Market by Material Type (Cast Iron, Steel, Cryogenic, Alloy Based), Size, Valve Type (Ball, Butterfly, Gate, Globe, Check, Plug), Industry (Oil & Gas, Water & Wastewater, Energy & Power), and Geography - Global Forecast to 2023|
|Published: September 7, 2018||Content info: 189 Pages||
"The industrial valve market is expected to grow at a significant rate from 2018 and 2023."
The industrial valve market is expected to grow from USD 70.53 billion in 2018 to USD 85.19 billion by 2023, at a CAGR of 3.96% from 2018 and 2023. Key factors driving the growth of the industrial valve market include the increased need for industrial valves from oil and gas production-related facilities in GCC countries, elevated energy demand in APAC, smart city development initiative across the world, high demand for predictive maintenance techniques from manufacturing industries, and stringent environmental and safety regulations to make the energy sector more resilient. Strategies such as product launches and developments, mergers and acquisitions, expansions, agreements, collaborations, joint ventures, and partnerships adopted by market players are fueling the growth of the industrial valve market. However, the lack of standardization and certifications and government policies, a slowdown in oil and gas extraction, and downtime due to repair and maintenance are restraining the growth of the industrial valve market.
The market for industrial valves having sizes ranging from 1" to 6" is expected to grow at the highest CAGR during the forecast period. This growth is attributed to the increasing demand for transportation and power-based applications; as a result, there is an increase in the use of 1- 6" valves in the oil & gas, energy & power, water & wastewater treatment, chemicals, and other industries.
The industrial valve market in Asia Pacific (APAC) accounted for the largest share of the overall market in 2017 is expected to grow at the highest CAGR during the forecast period. Major factors driving the growth of the industrial valve market in APAC include the increasing population and rising focus of emerging economies on investing in industries such as energy & power, oil & gas, water & wastewater treatment, chemicals, and construction in which industrial valves are used.
The break-up of the profiles of primary participants for the report has been given below.
Emerson (US), Cameron - Schlumberger (US), IMI PLC (US), Flowserve (US), and Weir Group (UK) are among the major players in the industrial valve market.
The industrial valve market, in this report, has been segmented by material, valve type, valve size, industry, and geography. The market based on material has been segmented into steel, iron, cryogenic, alloys and others (brass, bronze, and plastic). By valve type, the industrial valve market has been classified into ball valves, butterfly valves, check valves, diaphragm valves, gate valves, globe valves, and safety valves. The industrial valve market, by valve size, has been further segmented into up to 1", 1" to 6", 6" to 25", 25" to 50" and 50" and larger. The industrial valve market based on industries has been segmented into oil & gas, energy & power, water and wastewater treatment, food & beverages, chemicals, pharmaceuticals, metals & mining, pulp & paper, agriculture, and others (textiles, glass, and semiconductor manufacturing).
*Details on Business overview, Products offered, Recent developments, SWOT analysis, and MNM view might not be captured in case of unlisted companies.