12 February 2019: Valve Market is subject to witness a substantial growth due to the shifting trend towards automation & digitalization of various industrial processes. In addition, rapid expansion of existing facilities and petroleum refining plants are estimated to drive the growth of market over the forecast period. Development of advanced flow control tools is projected to have positive impact on market growth in the near future. Globally, the valve market is predicted to grow at higher CAGR in the forecast period, providing numerous opportunities for market players to invest in research and development of the industrial valves.
Introduction of smart valves along with intelligent control systems is gaining traction among industry participants due to their capability to detect and correct leakages in the valves with help of advanced feedback mechanism, thereby escalating market demand for smart valves with intelligent control systems. Development of advanced diagnostics and smart technology in valves market for measuring various procedure variables that include upstream & downstream pressure stem position, temperature, and the flow rate, is propelling market growth over the forecast period.
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Technological innovation in oil & gas industry has enabled access to resources in deep waters and unusual reservoirs with adverse atmospheric conditions such as high temperature, high-pressure, and low-pressured or depleted reservoirs. High-end demand for pipeline installations across downstream segment is anticipated to offer numerous growth prospects for the industrial valves market participants in the near future. Growing preference towards automated control valves is attributed automation of various industrial process in the recent years.
However, factors such as reduced of coal usage and declined number of conventional coal-fired plants are expected to pose critical challenges for sustained market growth. In addition, volatility in the cost of raw material is negatively affecting the market growth to a certain extent. Stringent government laws & regulations in regards to greenhouse gas emission from conventional power is limiting market growth.
Asia-Pacific region is predicted to hold major market share in the valve market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with growing construction activities, soaring demand for chemical industry, market expansion for petroleum refining plants, and significant investment by leading industry players considering potential growth opportunities in the region. European region witnessed economic slowdown in the valve market over last few years. However, rise in the number of offshore sites and high-end demand from booming oil & gas from Russia is expected to favor market growth in the region.
The key players in the valve market are Flowserve Co., Kitz Co., Curtiss-Wright Co., Emerson Electric Co., The KSB Group, CIRCOR International, Inc., Cameron International Co., Alfa Laval AB, AVK Group, Camtech Manufacturing FZCO, Delta-Pacific Valves Ltd., Goodwin plc, GWC Valve International, Inc., Watts Water Technologies, Inc., and Pentair plc.
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Valve Market by Geographical Regions:-
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South America
The product segments discussed in the data reports include:
- Check valves
- Oleohydraulic and pneumatic transmissions valves
- Pressure-reducing valves
- Relief and safety valves
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