Rising industrialization globally has given rise to the demand of industrial valves.
Albany, NY -- (SBWIRE) -- 04/10/2018 -- A recent study, focusing on the global demand for valves has been publicized to the wide repository of Market Research Hub (MRH), which highlights prime aspects of the market to help new entrants in implementing key strategies for market development. The report is titled as "Valves Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026", and accurately predicts the future of the market and also gives an impression of the present market situation. The report also highlights opportunities in the concerned market at the global and regional level.
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Valves have been an integral part of process automation system in industries, as they determine the efficiency of the plant. Basically, valves are used to control the flow of fluids and gases in number of industries. Rising industrialization globally has given rise to the demand for industrial valves. According to the key findings, the global valves market is anticipated to grow at a CAGR of 7.0 % during the forecast period 2018 to 2026.
Geographical and Segmental Analysis
For the benefit of the readers, the report provides a complete perspective on the market's growth on the basis of revenue in US$ Mn, covering different geographical regions namely Europe, Asia Pacific, North America, Middle East & Africa and South America. Presently, North America and MEA are the most dominant region in the global valves market. In the coming years, Asia Pacific will continue to be at the forefront of global demand, with the market in the region growing at CAGR of about 8.5% throughout the forecast period.
As the report proceeds, valves market is segmented by product type and by industry. By product type, global valves market is characterized into butterfly valves, pressure reducing valves, safety/relief valves, control valves, diaphragm valves, globe valves, plug valves, gate valves, ball valves, and other valves. Major end-user are oil & gas, power, chemicals, marine, construction, pulp & paper, mining, water and wastewater treatment. On the basis of type, Butterfly valves segment is predicted to rise with the significant CAGR during the forecast period.
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It has also been studied that demand for valves is constantly increasing due to the benefits they offer in terms of pressure or temperature control throughout upstream, midstream, and downstream activities in the oil & gas industry. As the trend of companies focusing on automation of their manufacturing plants is increasing, the demand for valves will increase steadily. Rising number of water treatment plants across the world has propelled the adoption of various valves in the wastewater treatment sector.
At last, the report concludes with the profiling of prominent players operating in the global valves market. They include Schlumberger Limited, Honeywell International Inc., Flowserve Corporation, Emerson Electric Co., AVK Holding A/S, KITZ Corporation, Bürkert Fluid Control Systems, Rotork Plc, General Electric Company and Goodwin International Ltd.
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