Transparency Market Research has published a new report "Industrial Valves Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2023 " to its report store.
Albany, NY -- (SBWIRE) -- 01/08/2016 -- Valves are regulatory devices that control the flow of fluids in several domestic and industrial applications. They are also used to control the volume, pressure, rate and direction of the flow of fluis.They are used for different industrial purposes and are categorized under the industrial valves segment. Valves gained popularity during the industrial revolution and are still widely used across the globe. Most valves comprise two major parts: body and bonnet. The body contains all internal parts, whereas the bonnet acts as a covering for the valve body to aid its function. Industrial valves are broadly categorized into two types: standard valve and automatic valve. Standard valves are manually operated and cheaper than automatic valves. Moreover, standard valves are leak-proof and low-maintenance devices. However, automatic valves, as the names suggests, are automatically operated and are more efficient. Hence, its market potential is expected to increase substantially during the forecast period.
In-depth research report on Industrial Valves Market with Full TOC at : http://www.transparencymarketresearch.com/industrial-valves-market.html
Industrial valves are widely used in several key end-user industries such as oil & gas, steel, power, pharmaceuticals, petrochemicals, and infrastructure. Besides this, they are used in HVAC (heating, ventilation, and air conditioning), Original Equipment Manufacturers OEM, and automobile manufacturing processes. Oil & gas is one of the largest end-user industries involved in the production of industrial valves. Industrial valves are used in extraction machineries, pipelines, and drilling wells. Additionally, they are used in upstream and downstream processes in oil & gas as well as pharmaceutical industries. Different types of valves possess different applications. For instance, butterfly valves are used in large pipelines for regulating the fluid flow inside the pipelines. Other types of valves are ball valves, check valves, choke valves, diaphragm valves, and piston valves. These valves are commonly used in industrial applications.
Global demand for industrial valves is expected to rise significantly due to the growth of its end-user industries. Asia Pacific is the fastest growing market for industrial valves. Increased degree of industrialization and heavy expenditure on infrastructure in Asia Pacific, especially in China and India, is driving the demand for industrial valves. Higher operational efficiency and low manufacturing cost have further boosted the production of industrial valves in developing economies of Asia Pacific. China and India plan to break through the untapped economies of Africa and Eastern Europe. This is expected to propel the export sales of valves manufactured in India and China during the forecast period. The Middle East and Northern Africa are likely to become the second fastest growing market after Asia Pacific. Extensive drilling of crude oil in the Middle East, the largest exporter of crude oil, and increasing demand for energy in Africa are estimated to fuel the demand for industrial valves. The market for industrial valves in Latin America is anticipated to expand substantially owing to the strong development in the oil and gas sector in Brazil and Mexico. Recovery in the domestic economy in North America, Western Europe, and Japan after the economic recession is also likely to increase the demand for industrial valves in these mature economies.
Rising demand for industrial valves and high profitability has attracted several manufacturers. Some of the key players in the industry include Pentair plc, Emerson Electric Co., KITZ Corporation, AVK Holding A/S, Emerson Electric, General Electric, Cameron International, and Curtiss-Wright Corporation.
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