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Isolation Valves Global Market Report 2024 Market Key Trends And Strategies For Expansion 2024-2033
Isolation Valves Global Market Report
According to The Business Research Company's, The isolation valves market size has grown strongly in recent years. It will grow from $3.57 billion in 2023 to $3.77 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to industrial expansion and infrastructure development, market diversification across industries, demand for maintenance and replacement, environmental concerns and efficiency, globalization and market expansion..
The isolation valves market size is expected to see strong growth in the next few years. It will grow to $4.72 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to industry-specific demand growth, rise in infrastructure projects, increasing demand for maintenance and replacement, market penetration in emerging economies, expansion of environmental regulations.. Major trends in the forecast period include focus on operational efficiency and cost reduction, automation and smart valve solutions, technological advancements in valve design, environmental sustainability demands, industry-specific applications and customization..
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Market Drivers and Trends:
The growth of the oil and gas industry is expected to propel the growth of the isolation valve market going forward. The oil and gas industry refers to the global process of exploring, mining, processing, transporting, and distributing petroleum and natural gas products to supply energy to diverse sectors such as transportation, manufacturing, and power generation. Isolation valves are a key element in the oil and gas industry, as they are used to isolate specific parts of a pipeline or process system to facilitate maintenance, repair, and safety procedures, as well as to control the flow of fluids or gases, prevent backflow, and regulate pressure. For instance, in September 2022, according to Statistics Canada Highlights, a Canada-based intergovernmental organization, Canada's total gross revenue in the oil and gas extraction industry increased by 85.7% from $93.7 billion in 2020 to $174.0 billion in 2021. Therefore, the growth of the oil and gas industry is driving the growth of the isolation valve market going forward.
Major companies operating in the isolation valve market are focusing on innovative product launches, such as bonnet ball valves, to enhance their low-temperature ball valve series. This extension bonnet is designed to prevent the stem sealing area from freezing and has a vent hole on the ball to prevent excessive cavity pressure. For instance, in November 2022, Kitz Corporation, a Japan-based company that manufactures and sells valves, launched a new extension bonnet ball valve to enhance the low-temperature ball valve series. The new extension bonnet ball valve is designed to improve the low-temperature ball valve series, which is relevant to various industries, including oil and gas, water and wastewater treatment, and chemical processing. . Additionally, it offers a range of ball valves with various safety features, such as vented balls, blowout-proof stems, and prevention of lever misalignment, contributing to the overall safety and reliability of their ball valve products.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Emerson Electric Co; Orion Valves; KITZ Corporation; Spirax-Sarco Engineering PLC.; Frank's International NV; The Weir Group PLC.; Flowserve Corporation; Velan Inc.; Crane Co; Trillium Flow Technologies; MKS Instruments Inc.; Schlumberger Limited.; Forbes Marshall; Baker Hughes Company; Colton Industries; Della Foglia Srl; American Expedition Vehicles; Weir Group PLC.; Cameron International Corporation; Imperial Metal Industries Limited; Biocare Medical LLC; F Hoffmann-La Roche Ltd; Genemed Biotechnologies Inc.; Thermo Fisher Scientific Inc.; Biogenex Laboratories; Zytomed System GmbH; Bio-Techne Corporation; Bio SB Inc.; Qiagen NV; PerkinElmer Inc.; Abbott Laboratories; Merck KGaA
Isolation Valves Market 2024 Key Insights:
• The isolation valves market will grow to $4.72 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%.
• The Symbiotic Surge Of The Oil And Gas Industry And Isolation Valve Market
• Kitz Corporation Introduces Extension Bonnet Ball Valve To Advance Low-Temperature Ball Valve Series
• Asia-Pacific was the largest region in the isolation valve market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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