Aug 20, 2020   SOURCE: BusinessWire

Global Industrial Valves Market (2020 to 2027) - by Material Type, Valve Type and Application - ResearchAndMarkets.com

The "Industrial Valves Market by Material Type, Valve Type and Application: Global Opportunity Analysis and Industry Forecast, 2020-2027" report has been added to ResearchAndMarkets.com's offering.

The global industrial valves market size is expected to reach $107,356.7 million in 2027, from $86,202.7 million in 2019, growing at a CAGR of 3.5% from 2020 to 2027.

Industrial valves are employed in nearly every process industry. They are mainly utilized for regulation, direction, and control of liquids, slurries, gases, vapors, and others flowing through piping systems. They are high functioning devices, manufactured using cast iron, carbon steel, stainless steel, various metal alloys, bronze, and many other high performing materials. A valve body mainly consists of a body, seat, and a stem, which may or may not be manufactured using a single material. Moreover, industrial valves are mainly custom designed and manufactured, as well as available as pre-designed valves as per the industry requirement. Moreover, globe valves, butterfly valves, ball valves, gate vales, plug valves, pinches valves, and check valves are widely utilized in oil & gas, food & beverage, water & wastewater, chemicals, and other prominent processing industries.

Development in valve automation and control technologies have contributed significantly for boosting the growth of the industrial valves market during the recent years. Automatic valves allow remote handling, which is advantageous in hazardous and remote environments of oil & gas industries, chemical industries, and power plants. In addition, standard valves can be easily upgraded using automatic actuator systems or automatic control systems, which drives the growth of industrial valves market. Furthermore, the increased investments in the oil & gas storage as well as refining infrastructure, mainly in the North America drives the requirement for industrial valves. North American countries such as the U.S. and Canada are major importers of industrial valves from Asian and European nations.

Thus, the development of oil & gas industry in North America drives the industrial valves market growth globally. Moreover, the demand for industrial valves has significantly increased from the food & beverage industry mainly from the developing nations in Asia-Pacific and Latin America. With the surge in agriculture and a risen demand for processed food, the food & beverage processing industry has shown high growth in countries such as India, Brazil, and others. This, in turn, has created a high demand for industrial valves; thereby, driving the growth of the industrial valves industry.

However, the saturation in industrial growth in major developed countries such as Germany, the U.S., the UK, and others is likely to affect the growing trend for industrial valves significantly. The demand for new industrial valves is extremely slow paced in the previously mentioned countries mainly due to the developed industrial infrastructure. This is likely to restrain the growth of industrial valves market. In addition, the trade tensions between the U.S. and China has led to newly imposed tariffs on various metals including stainless steel, aluminum, and others, which are mainly used for the manufacturing of industrial valves. This in turn results in surged production costs and a disruption in supply chain of global industrial valves industry, which is likely to restrain market growth of industrial valves globally.

On the contrary, the technological advancements in industrial valves such as implementation of automation and control technologies are likely to create lucrative growth opportunities for the global industrial valves market.

Key Benefits

  • The report provides an extensive analysis of the current and emerging global industrial valves market trends and dynamics.
  • In-depth analysis of the market is conducted by constructing market estimations for the key market segments between 2019 and 2027.
  • Extensive analysis of the market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
  • A comprehensive industrial valves market opportunity analysis of all the countries is also provided in the report.
  • The global industrial valves market forecast analysis from 2020 to 2027 is included in the report.
  • The key market players within the market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the industry.

Market Dynamics

Drivers

  • Growth in Demand for Automation in Control Industrial Valves
  • Surge in Investments for Oil & Gas Industry in North America
  • Growth in Food & Beverage Processing Industry in Developing Countries

Restraints

  • Increased Tariff on Trade of Raw Materials

Opportunity

  • Demand for High Technology Valves

Key Players

  • AVK Holding A/S
  • Avcon Controls Private Limited
  • Schlumberger Limited
  • Crane Co.
  • Emerson Electric Co.
  • Flowserve Corporation
  • Forbes Marshall
  • IMI plc
  • Metso Corporation
  • The Weir Group plc

For more information about this report visit https://www.researchandmarkets.com/r/cqtj4l