The market was valued at US$71.21 bn in 2015 and is expected to reach US$92.65 bn in terms of revenue by 2020, expanding at a CAGR of 5.6% from 2016 to 2020.
Albany, NY -- (SBWIRE) -- 12/08/2016 -- The valve market across the globe is anticipated to witness a stable growth during the forecast period from 2016 to 2020. A valve is a device or fittings that controls and regulates the direction of fluids by closing, opening, or partially obstructing different passageways. The size of valves varies significantly according to their applications. Different types of valves including globe valve, butterfly valve, globe valve, flange type diaphragm valve, needle valve and ball valve among others is included within our scope of research. Valves finds its application in both industrial sectors such as oil & gas, chemicals, pharmaceutical, power generation, manufacturing, waste watertreatment, food & beverages and civil sectors including household applications, commercial building applications and municipality applications.
Global Valve Market: Trends and Opportunities
The global valve market is majorly driven by increasing importance of wastewater management. Increasing demand for surface and ground water has led to acute shortages of water in many parts of the world and hence wastewater management is seen as an important alternative. Moreover, stringent environmental laws implemented by the government of various regions especially in Europe and Asia Pacific region are also leading to growth of the wastewater management industry. The wastewater management industry handles industrial wastewater, domestic wastewater and agricultural wastewater among others. The whole process requires various steps, and valves are required in most of those steps including in aeration of wastewater and chemical feed addition among others. In addition, the ongoing practice to upgrade the prevalent valve system along with new installation adopted by different industrial and civil sector across various regions is also forecasted to boost the demand of different categories of valve in the coming years.
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However, slump in the growth of manufacturing and construction sector is expected to deter the market growth of valve during the forecast period from 2016 to 2020.The detraining growth rate of the manufacturing sector also results in low production of raw materials required to manufacture valves. This in turn is predicted to hamper the production of valves and thereby predicted to affect the market negatively. In addition, downturn in the oil and gas industry is also anticipated to restrain the growth of valve market across various regions. Oil and gas companies are currently refraining from new projects, to cut cost, thus leading to reduced demand for different categories of valves. This in turn is also predicted to limit the demand of valves during the forecast period from 2016 to 2020.
Global Valve Market: Scope of the Study
This report provides the future anticipated market growth of valve during the period from 2016 to 2020 along with a current market synopsis. The report also provides in-depth analysis of the valve market across various material type and applications. Various economic factors predicted to affect the demand and supply of valves across the globe is also highlighted in this report. In addition, the report also limelight on the detailed industry structures, market share of the leading manufacturers and future predictive demand and supply both in terms of revenue and volume in order to provide a detailed analysis of the market.
Global Valve Market: Segmentation
Based on material, the global valve market is segmented into copper valve, stainless steel valve, plastic valve and others including brass valve and carbon steel valve. By application, the global valve market has been segmented as civil and industrial. By geography, the global valve market has been further classified into North America, Europe, Asia Pacific and Rest of the World (RoW). The present market size both in terms of revenue (USD Million) and volume (Thousand Units) along with forecast from 2016 to 2020 is also provided in this report.
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Companies Mentioned in the Report
Some of the key players operating in the valve market across the globe are, Flowserve Corporation (U.S), Cameron International (U.S), IMI Plc. (U.K) and Pentair Ltd. (U.K) among others.
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