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. In 2017, North America is expected to dominate the market.
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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. Some of the major players operating in industrial valves market are
- AVK Holding A/S
- Avcon Controls Pvt Ltd
- Cameron – Schlumberger
- Crane Co.
- 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 PLC among others
In 2017, Flowserve Corporation singed the deal with Divest Gestra AG, to sell products of the company.
Global Industrial valves Market have 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, Others will 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 market is segmented into
- 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
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
- Food & Beverages
- Building and Construction
The Oil & gas market is expected to grow in the forecasted period.
On the basis of geography, industrial valves market report 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.
North America is expected to dominate the market.
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