Over the years, preference for valves, particularly automatic
functioning valves has been on a rise worldwide. Increasing
industrial automation and the need for cutting down the operational
cost of manually-operated valves have been triggering the adoption of
industrial valves across several industrial verticals. Future Market
Insights’ recent study on the global industrial valve market
projects that by the end of 2017, over 420 Mn pcs. of industrial
values will be sold across the globe.
Although, the report expects the global industrial valve market to
grow at a sluggish place. According to the report, titled “Industrial
Valve Market: Global Industry Analysis (2012–2016) and
Opportunity Assessment (2017-2027),” the global market for
industrial valves will record global sales of a little over 600 Mn
units over the forecast period. The market, which is estimated to
reach US$ 59 Bn value by the end of 2017, is poised to showcase a
CAGR of 3.7% and bring in US$ 87.6 Bn by 2027-end. In terms of
volume, as well, the global industrial valve market is expected to
register a 4% CAGR over the forecast period.
Declining oil prices, lack of standardisation, and availability of
cheaper alternatives, are also common restraints observed in
industrial valve markets across several regions. In terms of volume,
the Asia-Pacific excluding Japan (APEJ) region is expected to exhibit
a relatively higher CAGR compared to other regions. The APEJ
industrial valve market is expected to exhibit a volume CAGR of 4.2%
over the forecast period, primarily due to high demand for industrial
valves in residential projects. Meanwhile, North America will remain
a lucrative market for industrial valves, accounting for more than
30% of global revenues through 2027.
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Global industrial valve market is also expected to exhibit the
highest growth in oil & gas industry. The market value share of
industrial valves in oil & gas industry is expected to grow from
32.3% in 2017 to 32.9% in 2027- making it the largest end-user
industry in global industrial valves market. In terms of valve
function, automatic industrial valves will be in great demand in the
global market, and are predicted to bring in revenues worth nearly
US$ 30 Bn by 2027-end. With respect to types of valves, gate valve is
expected to gain a significant growth in its market value share owing
to its demand in wide range of industries. Throughout the forecast
period, over 40% of market value will be collectively accounted by
global sales of gate valves and globe valves.
The report also reveals that demand for industrial valves made from
stainless steel will gain traction. In 2017 and beyond, over 60% of
global industrial valve revenues will be attributed stainless steel
and cast steel raw materials. The report further profiles key players
in the global industrial valve market which include Flowserve
Corporation, Emerson, AVK Holding A/S, KSB Aktiengesellschaft,
Zhejiang FuGe Fluid control equipment CO.,LTD., Cameron International
Corp., Neway Valve, LESER GmbH & Co. KG Hamburg, CIRCOR
International, Inc., KITZ Corporation, ABO valve, Tecofi, Guichon
Valves, Robvalve, Polna corp. s.r.o, Gunric Valves (Pty) Ltd, John
Mills Valves, Achech Europe, Orion Valves, Exotica Valves.
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