Aug 19, 2020   SOURCE: BusinessWire

Global Hybrid Valve Market to 2025 - Featuring Flowserve, Emerson Electric & IMI Among Others - ResearchAndMarkets.com

The "Hybrid Valve Market - Growth, Trends, Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.

The Hybrid Valve Market is expected to grow at a CAGR of 4.82%. The growth of the market is owing to the growing Number of Petrochemical, Refineries and Chemical Plants and the need for controlling excessive Noise, Pressure, Vibration, and Cavitation in Critical Processes.

The growth of hybrid valves is expected to be further driven by factors such as increasing need for wireless/remote infrastructure to monitor equipment in various plants along with an augmented focus on technology advancements propelling the application of smart valves and actuators, specially in the industrial sector.

The recent outbreak of the Covid-19 pandemic is expected to negatively impact market growth. The major end user segments like Oil & Gas have suffered heavily with Crude Oil prices hitting USD Zero per barrel recently. This is expected to affect the automation activities of the sector across the globe.

Key Market Trends

Oil & Gas Industry is Expected to Drive Market Share

  • The Oil & Gas Sector's expansion across geographies is expected to drive market growth. The Department of the Interior (DoI) of the United States for instance, is planning to allow offshore exploratory drilling in about 90% of the Outer Continental Shelf (OCS) acreage, under the National Outer Continental Shelf Oil and Gas Leasing Program (National OCS Program) for 2019-2024. This is expected to open up new opportunities to the market in the oil and gas sector.
  • Moreover, declining sensor costs, could also offer several cost cutting measures to implement automation technologies in the oil & gas industry to improve productivity and eliminate any possible hindrances in the business model.
  • Additionally, according to the Digital-Re-Definery report released in the past year stated that number of refiners that reported digital technologies delivering a margin improvement of more than 10% in refining operations dropped from 11% to 3% and the numbers also dropped for all subsequent margin improvement ranges. This underscores the fact that there is a huge potential for improvement as Oil and Gas Refineries are yet to capitalize completely on digital investments

North America is Expected to Hold the Largest Market Share

  • Major industries in the country, such as oil and gas, renewable energy, and water and wastewater treatment, are moving toward valve and actuators technology with embedded processors and networking capability to work alongside sophisticated monitoring technology coordinated through a central control station. The expanding power generation infrastructure in the United States and the availability of natural gas are also expected to result in the construction of several new combined cycle gas turbine (CCGT) plants.
  • North America is expected to have significantly larger market share owing to exhaustive activities in the exploration of shale gas, which requires control valves to regulate the temperature or pressure throughout upstream, downstream and midstream activities. Over the span of 1 year in 2019, the United Stated added 14 oil rigs and 1 gas rig for its oil and gas exploration focus.
  • Similar to the United States, Canada also has a vast potential for hybrid valves from the oil and gas industry. The recent approval of CAD 40 billion LNG Canadian project has marked the first upturn in oil and gas projects in the country, after the recent low crude oil price situation.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview

4.2 Market Drivers

4.2.1 Need for Controlling Excessive Noise, Pressure, Vibration, and Cavitation in Critical Processes

4.2.2 Growing Number of Petrochemical, Refineries and Chemical Plants Acts as a Market Driver in the forecast period

4.3 Market Restraints

4.3.1 High Cost of Installation of Valves

4.4 Porters 5 Force Analysis

4.5 Industry Value Chain Analysis

4.6 Assessment of Impact of Covid-19 on the Industry

5 MARKET SEGMENTATION

5.1 End - User Industry

5.1.1 Oil & Gas

5.1.2 Wastewater Management

5.1.3 Chemicals

5.1.4 Food & Beverage

5.1.5 Other End - User Industries

5.2 Geography

5.2.1 North America

5.2.2 Europe

5.2.3 Asia-Pacific

5.2.4 Rest of the World

6 COMPETITIVE LANDSCAPE

6.1 Company Profiles

6.1.1 Flowserve Corporation

6.1.2 Emerson Electric Company

6.1.3 IMI plc

6.1.4 Carter Process Control GmbH

6.1.5 CIRCOR International, Inc.

6.1.6 L&T Valves Limited

6.1.7 Koso Kent Introl Pvt. Ltd.

6.1.8 Parcol S.P.A

6.1.9 Master Flo Valve Inc. (Stream-Flo Industries Ltd.)

6.1.10 Wuxi Smart Auto-Control Co. Ltd.

7 INVESTMENT ANALYSIS

8 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/asplbi