12 February 2019:
Valve
Market is subject to witness a substantial growth due to the
shifting trend towards automation & digitalization of various industrial
processes. In addition, rapid expansion of existing facilities and petroleum
refining plants are estimated to drive the growth of market over the forecast
period. Development of advanced flow control tools is projected to have
positive impact on market growth in the near future. Globally, the valve market
is predicted to grow at higher CAGR in the forecast period, providing numerous
opportunities for market players to invest in research and development of the
industrial valves.
Introduction of smart valves along with intelligent control
systems is gaining traction among industry participants due to their capability
to detect and correct leakages in the valves with help of advanced feedback
mechanism, thereby escalating market demand for smart valves with intelligent
control systems. Development of advanced diagnostics and smart technology in
valves market for measuring various procedure variables that include upstream
& downstream pressure stem position, temperature, and the flow rate, is
propelling market growth over the forecast period.
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Technological innovation in oil & gas industry has
enabled access to resources in deep waters and unusual reservoirs with adverse
atmospheric conditions such as high temperature, high-pressure, and
low-pressured or depleted reservoirs. High-end demand for pipeline installations
across downstream segment is anticipated to offer numerous growth prospects for
the industrial valves market participants in the near future. Growing
preference towards automated control valves is attributed automation of various
industrial process in the recent years.
However, factors such as reduced of coal usage and declined
number of conventional coal-fired plants are expected to pose critical
challenges for sustained market growth. In addition, volatility in the cost of
raw material is negatively affecting the market growth to a certain extent.
Stringent government laws & regulations in regards to greenhouse gas
emission from conventional power is limiting market growth.
Asia-Pacific region is predicted to hold major market share
in the valve market with massive growth in forecast period. Countries such as
India, China and Singapore are leading the Asia-Pacific market with growing
construction activities, soaring demand for chemical industry, market expansion
for petroleum refining plants, and significant investment by leading industry
players considering potential growth opportunities in the region. European
region witnessed economic slowdown in the valve market over last few years.
However, rise in the number of offshore sites and high-end demand from booming
oil & gas from Russia is expected to favor market growth in the region.
The key players in the valve market are Flowserve Co., Kitz
Co., Curtiss-Wright Co., Emerson Electric Co., The KSB Group, CIRCOR
International, Inc., Cameron International Co., Alfa Laval AB, AVK Group,
Camtech Manufacturing FZCO, Delta-Pacific Valves Ltd., Goodwin plc, GWC Valve
International, Inc., Watts Water Technologies, Inc., and Pentair plc.
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Valve Market by
Geographical Regions:-
•
North America
•
Europe
•
Asia Pacific
•
Middle East and Africa
•
South America
The product segments discussed in the data reports include:
•
Check valves
•
Oleohydraulic and pneumatic transmissions valves
•
Pressure-reducing valves
•
Relief and safety valves
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