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Industrial Valves Market growing at a CAGR of around 5.3% between 2016 and 2021
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Developing countries such as India, China & Brazil are continuously expanding their industrial infrastructure. Rising urbanization has led industrial valve market to grow rapidly from past few years. Increasing offshore oil and gas projects across the globe, rising demand from manufacturing & process industry due to improved safety and reduced operating costs, ongoing efforts to expand water infrastructures in developing countries are the major factors expected to favor the growth of industrial valve market.
On a contrary, uncertainty in crude oil prices which makes project economically unstable may hamper the market growth over the years to come. Nonetheless, rising demand of energy from all sectors is expected to open up new growth opportunities in the coming years.
Ball valve accounted 20% of revenue share of the overall market in 2015. Ball valves are quarter-turn, straight-through valves used in situations where tight shut-off is required. Use of gate valves in application sector such as oil and gas industry, pharmaceuticals, manufacturing, automotive, and marine is expected to experience significant growth in the forecast period.
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Along with 22% revenue share oil & gas application segment emerged as a largest application segment in 2015. Increasing pipeline installations and need for monitoring & controlling from centralized location has prompted the growth & demand of industrial valves. Ongoing efforts to expand water infrastructures in developing countries are expected to show significant growth in water & wastewater application segment.
Ongoing efforts to expand water infrastructures in India ,China and Indonesia coupled with increasing demand from chemical and mining industries is fueling the growth of the market in Asia Pacific region. Africa is considered as a one of the most attractive market for industrial valves due to rising power sector. Oil & gas production is one of the major driving factors for escalating demand for industrial valve in North America.
Key players profiled in the report include Alfa Laval, Velan Inc., GWC Valve International Inc, Delta Pacific Valves Ltd., Cameron International, Goodwin Plc , Camtech Valves , Pentair Plc. , Neway Valve (Suzhou) Co., Ltd. and Valvitalia S.P.A amongst others.
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This report segment of the global of industrial valves market as follows:
Industrial Valves Market: Type Segment Analysis
Gate valve
Butterfly valve
Ball valve
Check valve
Globe valve
Industrial Valves Market: Application Segment Analysis
Oil & gas
Chemical
Power
Water & wastewater
Other application
Industrial Valves Market: Regional Segment Analysis
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
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