Growing Demand from Oil and Gas Industry to Drive Global Industrial Valves Market

Published Date : Jun 28, 2018

ALBANY, New York, June 28, 2018: A new market research study has been recently added by to its vast collection of market intelligence studies. The research report, titled “Global Industrial Valves Market - By Valve Type (Ball, Butterfly, Gate, Globe, Check, Plug, Safety, Diaphragm), By Technology (Manual Valve, Solenoid Valve, Control Valve), By Size, By End User Industry, By Region, By Country: Opportunities and Forecast (2018-2023)-- By Size (Up to 1”, 1.1”- 6”, 6.1”- 25”, 25.1”- 50”, >50”), By End User Industry (Oil & Gas, Water & waste water, Power, Chemical & Fertilizers, Pharmaceuticals, Food & Beverages, Building & Construction),” offers a detailed study of the overall market. The key segmentation of the global industrial valves and the competitive scenario have been described thoroughly in the scope of the research study.

The rising demand from the oil and gas manufacturing units and the growing demand for energy in several developing economies are some of the major factors that are anticipated to accelerate the growth of the global industrial valves market in the near future. In addition, the rising focus on developing the concept of smart cities, especially in China and India and an expected rise in the demand for industrial valves from Process and manufacturing industries are anticipated to enhance the overall growth of the market throughout the forecast period.

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On the other hand, the lack of product differentiation and standardization in policies and certifications are estimated to restrict the growth of the global market in the next few years. Moreover, the high cost of fabrication and the high competition in the low-priced manufacturing are some of the other factors that are predicted to curtail the growth of the market in the near future. Nonetheless, the increasing use of 3D printers in manufacturing lines are estimated to generate promising growth opportunities for the market players in the next few years.

Among the key regional segments, the global industrial valves market has been classified into North America, Latin America, the Middle East and Africa, Europe, and Asia Pacific. Among the mentioned segments, Asia Pacific is expected to account for a large share of the global market in the next few years. According to the research study, this region is likely to maintain its leading position, thanks to the presence of a large number of players operating in it. In addition to this, the increasing industrialization in developing economies such as India, China, South Korea, Japan, Thailand, and Indonesia. Furthermore, the key players in this region are focusing on developments and advancements, which is likely to generate promising growth opportunities in the coming years.

The global market for industrial valves is competitive in nature and is expected to remain in the similar situation throughout the forecast period. Some of the key players operating in the industrial valves market across the globe are VELAN, IMI Plc., Spirax Sarco, METSO, Crane Corporation, Baker Hughes, Emerson electric Corp, Forbes Marshall, Flowserve Corporation, and Schlumberger. The key players in the market are emphasizing on development of new product and innovations, which is predicted to enhance the overall growth of the market in the next few years. In addition, the rising number of strategic agreements and mergers and acquisitions are further estimated to help the market players in expanding their business horizon in the next few years.

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