Industrial Valves Market by Type (Ball, Globe, Gate, Butterfly and Others), by Application (Oil & gas, Chemical, Municipal, Power, and Others) and by Region (North America, Latin America, Middle East and Africa, Asia–Pacific, and Europe) - Global Trend & Forecast to 2019
Seattle, WA -- (SBWIRE) -- 01/23/2017 -- Industrial valves are devices used for flow regulation and control in piping systems. Valves are used to regulate, start and stop, or control the direction of a fluid or gas, flowing through the piping system. The industrial valves market has been segmented on the basis of its application in industries viz. Oil & gas, Chemical, Municipal, Power, and others.
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The industrial valves market is expected to grow at a fair pace in the next half a decade. The demand for industrial valves is expected to be driven by significant expansions in the oil & gas, municipal, and power sector. One of the fast growing markets for industrial valves is the Middle East and Africa region. Demand for valves in the Middle East is expected to be a direct result of its changing role in the global manufacturing scenario; from a raw goods provider to a refined products supplier. The oil & gas and power application industry growth are expected to drive the demand for industrial valves in Africa. Water and wastewater industry demand as well as expanding downstream oil & gas sector in key countries like India and China would boost the demand for industrial valves in Asia-Pacific. One of the significant factors limiting the growth of industrial valves is the waning demand from the mining industry. Key markets such as Australia and South Africa have been experiencing the slowdown in the mining sector, ensuring decreased demand for valves.
Source: Secondary Research, Expert Interviews, and MarketsandMarkets Analysis
The global industrial valves market is projected to grow at a CAGR of 5.4% in the next half a decade & with an estimation to surpass $70 Billion by 2019. Latin America, and the Middle East and Africa are expected to be emerging markets for industrial valves. The Asia-Pacific market is expected to grow at the fastest rate as compared to other regions.
The leading players in the industrial market include Pentair Ltd. (Switzerland), Flowserve Corporation (U.S.), Emerson Electric (U.S.), FMC technologies (U.S.), and Alfa Laval AB (Sweden). The companies are continually investing in R&D to introduce valves to suit the growing technological requirements in the application industries.
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