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Rapidly Rising Demand for Valves to ride on back of Factory and Process Automation

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Published on : Apr 23, 2018

ALBANY, New York, Apr 23, 2018: ResearchMoz.us has announced the addition of a report, titled “Valves Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026”, to its repository. The report on the global valves market is a granular assessment of key growth driving factors, scope of prominent product types, demand among various industry verticals, top revenue-generating regions, and the competitive dynamics.

The staggering demand for valves in various process industries is a key factor driving the market. The vastly rising adoption of different types of valves in onshore and offshore oil and gas activities for temperature and pressure control is constantly accentuating the market’s growth. The valves market is projected to rise at a CAGR of 7.0% during 2018–2026 and reach a worth of US$ 117,865.0 Mn by the end of this period.

The substantial rising oil and gas exploration activities, especially in parts of North America, Africa, and the Middle East, is fortifying the demand for valves. The growing uptake of valves in equipment used for refineries and production platforms to combat corrosion is boosting the market. The rise in upstream, midstream, and downstream activities in the oil and gas industry in various parts of the globe is boosting the market.

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The growing usage of valves in the residential sector is accentuating the market. This is attributed to their efficacy in managing flow control variable in systems such as water flow, gas systems, and room heating. Furthermore, the rising adoption of process automation in helping in the rapid expansion of the market.

The rising popularity of applications of industrial valves and control valves in various end-use industries is catalyzing the growth of the market. The various types of valves comprise pressure reducing valves, control valves, relief valves, globe valves, diaphragm valves, gate valves, plug valves, ball valves, and butterfly valves. Of these, butterfly valves segment is projected to rise at a prominent pace over the assessment period. These control valves are used in a variety of condition for reverse osmosis, brine flow control, steam systems, desalination systems.

The ley industries witnessing the demand for valves are nuclear power, chemicals, marine, construction, pulp and paper, mining, water and wastewater treatment. Of these, the water and wastewater treatment application segment leads the pack and contributed the major revenue share of the global market in 2017.

The global valves market is characterized by the marked presence of a large number of large and mid-size suppliers and manufacturers. A number of players are aiming to bring technology advances valves with better competencies in order to gain a better foothold in the market. Top players opt for partnership and acquisition strategies, in a move to consolidate their positions in the market.

Prominent players operating in the market include KITZ Corporation., Flowserve Corporation, Schlumberger Limited, Goodwin International Ltd, General Electric Company,

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