Press release
North America Industrial Valve Market revenues to gain US$ 17,529.97 million by 2028 with CAGR 6.0%
The North America industrial valve market is expected to grow from US$ 11,679.61 million in 2021 to US$ 17,529.97 million by 2028; it is estimated to grow at a CAGR of 6.0% from 2021 to 2028.Crude oil is the backbone of the modern-day industrial economy. It acts as an important base raw material for deriving various chemicals. With the increasing rate of industrialization and urbanization, the demand for oil and gas has surged substantially. Countries across the region are expected to present huge demand for crude oil during the forecast period due to the continuous growth in their manufacturing sectors, supported by favorable economic conditions and government policies. Equinor, a petroleum refining company, has announced to invest US$ 8.8 billion by end of 2022 for driving the progress of Wisting petroleum discovery in the Arctic Barents Sea, the northernmost oilfield.
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Petróleo Brasileiro S.A. has also announced to invest US$ 68 billion from 2022 to 2026 for managing production at the offshore fields in the subsea pre-salt area. Further, a significant number of oil and gas refineries have aged and require maintenance operations. Natural gas emits less carbon than coal does. Therefore, with the growing emphasis on curtailing carbon emission, governments are favoring gas-powered power plants over coal-powered power plants, which propels the demand for natural gas. The growing production of oil and gas boosts the North America industrial valve market growth.
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Major Key players covered in this report:
• CIRCOR International, Inc.
• Crane Co.
• Emerson Electric Co.
• Flowserve Corporation
• IMI Critical Engineering
• KITZ Corporation
• Neway Valve (Suzhou) Co., Ltd
• Schlumberger Limited
• Spirax-Sarco Engineering plc
• Velan Inc.
NORTH AMERICA INDUSTRIAL VALVE MARKET SEGMENTATION
North America Industrial Valve Market, by Material Type
• Cast Iron
• Steel
• Cryogenic
• Alloy-Based
• Others
North America Industrial Valve Market, by Valve Type
• Ball Valves
• Butterfly Valves
• Diaphragm Valves
• Safety Valves
• Piston RAM Valves
North America Industrial Valve Market, by Industries
• Oil and Gas
• Water Treatment
• Power and Energy
• Chemicals and Petrochemical
• Food and Beverage
• Healthcare and Pharmaceutical
• Others
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The research on the North America Industrial Valve market focuses on mining out valuable data on investment pockets, growth opportunities, and major market vendors to help clients understand their competitor's methodologies. The research also segments the North America Industrial Valve market on the basis of end user, product type, application, and demography for the forecast period 2019-2027. Comprehensive analysis of critical aspects such as impacting factors and competitive landscape are showcased with the help of vital resources, such as charts, tables, and infographics.
This report strategically examines the micro-markets and sheds light on the impact of technology upgrades on the performance of the North America Industrial Valve market.
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