Oil and Gas Valves Market is projected to grow at a CAGR of more than 3% during the forecast period

Future Market Insights (FMI) market study titled, ‘Oil & Gas Valves Market: Global Industry Analysis 2014–2018 and Opportunity Assessment 2019–2029′, analyses the global oil & gas valves market, and provides an in-depth analysis on the forecast period of 2019-2029. Also, the oil & gas market research report assesses the prominent forecasting factors that are projected to further augment the growth of the oil & gas valves market on a global level as well as regional level. Further, the report offers the key industry dynamics affecting the global oil & gas valves market across its supply chain and value chain.

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In 2014, the global oil & gas valves market was pegged at approximately US$ 10 Bn. The global oil & gas valves market is estimated to be valued at over US$ 11 Bn by the end of the year 2019. The oil & gas valves market is projected to grow at a CAGR of more than 3% during the forecast period of 2019-2029, and reach a value of nearly US$ 16 Bn by the end of 2029.

Downstream Applications Contributing a Major Share to Oil & Gas Valves Market

By product type, the global oil & gas valves market has been segregated into gates, globes, balls, butterflies, checks, PRVs, and others. The gate type of oil & gas valves are estimated to continue recording a high market value share throughout the projected period while recording a high CAGR simultaneously.

Concerning the different sizes of oil & gas valves, the oil & gas valves market has been segmented into 0.25 to 8 inches, 8 to 20 inches, and above 20 inches. By the end of the year 2029, the 0.25 to 8 inch-sized oil & gas valves segment is estimated to hold more than half of the global oil & gas valves market share.

With regards to application, the global oil & gas valves market has been segregated into upstream, midstream, and downstream applications. The downstream applications of oil & gas valves are estimated to contribute the most to the market size of the global oil & gas valves market.

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Rising Energy Need and Multiple Oil and Gas Projects in Pipeline Accelerate Market Growth in Developing Countries

Among all the regional markets, the oil & gas valves market in North America is estimated to account for over one-fourth of the global oil & gas valves market share throughout the forecast period, due to continuous advancements in the North American oil & gas and shale industry. With a booming oil & gas industry in Western Africa and Northern African countries, the oil & gas valves market in the Middle East & Africa is estimated to record the second-largest market share throughout the forecast period. The oil & gas valves market in China, India, and Brazil are estimated to be emerging markets due to the growing energy needs, new oil & gas projects, improved economic conditions, and continuous industrialization and urbanization in these countries.

The oil & gas industry is extremely competitive, due to the high presence of established market players. This, in turn, makes the oil & gas valves market fairly fragmented. Leading market players in the oil & gas valves market are very well-established across all the regional markets. Some of the key vendors in the global oil & gas valves market are

Emerson Electric Co.,
CIRCOR International Inc.,
Schlumberger Limited,
PARKER HANNIFIN CORP,
Weir Group Plc.,
Metso Corporation, and
BHGE (BAKER HUGHES, a GE Company), among others.
Key vendors in the oil & gas valves market must focus on investing in research and development-related projects, particularly in emerging markets such as China, Brazil, and India.

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OIL AND GAS VALVES MARKET TAXONOMY

The global oil & gas valves market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach in front of the reader.

By Product Type

Gates
Globes
Balls
Butterflies
Checks
PRVs
Others

By Size

0.25 to 8 inches
8 to 20 inches
Above 20 inches

By Body Material

Cast
Forged

By Application

Upstream
Midstream
Downstream

By Region

North America
Latin America
Europe
South Asia
East Asia
Middle East & Africa

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