industrial valves market and a report by InsightAce Analytic.
It's interesting to note that the report predicts the market to reach over USD 104.62 billion by the year 2031. It seems like a promising industry with potential for growth and development.
It's interesting to note that the global Industrial Valves market is estimated to reach over USD 104.62 billion by 2024-2031, exhibiting a CAGR of 5.17% during the forecast period. In the midst of the COVID-19 pandemic, the pharmaceutical and healthcare sectors have been working tirelessly to combat the virus, and the manufacturing of medical equipment has increased significantly. Industrial valves play a crucial role in the production of various types of medical equipment, and companies like Emerson have been instrumental in supporting this effort.
It's fascinating to see how the oil and gas industry is experiencing growth due to technical advancements that provide access to resources in deep oceans or uncommon reservoirs. This has led to increased production and exploration investments, which is driving the market for industrial valves. With rising pipeline installations and expansion in unconventional oil & gas applications across downstream segments, the industry is expected to experience significant growth opportunities. It's also interesting to note that the increasing use of automation in the process industry has led to a higher demand for automated control valves.
I was just reading about how the market for industrial valves may face several challenges in the coming years. Factors such as the absence of standardized norms and policies, a lack of product differentiation, and downtime due to valve repairs are predicted to limit the global market growth. Valves manufacturers need to comply with various regulations and standards, which vary across different locations. This diversity in demand, owing to the wide range of industries where valves are used, is hindering the market from expanding. Industries where valves are used include oil and gas, food and beverage, pharmaceuticals, energy and electricity, water and wastewater treatment, building and construction, chemicals, and pulp and paper.
Their valves are used in oxygen therapy devices, blood analyzers, and other essential haematology equipment. They also manufacture tiny instrument-level valves for lab and medical equipment, and have seen an increase in demand from manufacturers of oxygen therapy devices. Additionally, modern hospital beds contain pneumatically activated air bladders that are intended to improve patient comfort.
List of Prominent Players in the Industrial Valves Market:
- ALFA LAVAL
- AVK Holding AS
- Baker Hughes
- Bray International,
- CIRCOR International Inc.
- Crane Co.,
- Curtiss-Wright Corporation
- Danfoss AS
- Emerson Electric Co.
- Flowserve Corporation
- Georg Fischer Ltd
- Hitachi Ltd
- Honeywell International Inc.
- IMI PLC,
- ITT Inc.
- KITZ Corporation
- KLINGER Group
- KSB SE & Co, & KGaA,
- Mueller Water Products Inc.
- Neles,
- NIBCO Inc.
- Okano Valve Mfg. Co. Ltd
- Saint-Gobain
- Schlumberger Limited
- Spirax-Sarco Engineering PLC.
- TechnipFMC PLC
- The Weir Group PLC
- Valvitalia SpA
- Xylem
- Zhejiang Dunan Valve Co. Ltd
Market Dynamics:
Drivers:
Challenges:
Regional Trends:
The market in North America seems to be on the rise and holds a promising future for growth. With the increasing output of shale gas and oil sands, this region has a lot of potential for growth. As the old and ineffective valves for gas transportation in midstream infrastructure are replaced with more effective valves, the demand for all types of valves is expected to increase. The U.S. market is experiencing a revolution in the extraction of oil and gas from shale gas, which has resulted in significant investments in North American exploration and production. Moreover, the rising trend of electricity generation from renewable energy sources is anticipated to further strengthen the market potential.Recent Developments:
IMI Saudi Industry's new facility in Dammam. It's great to see companies taking steps to support the Saudi Arabian government's efforts to localise critical products. With this new facility, IMI Saudi Industry will be able to provide cutting-edge valve solutions and boost national manufacturing capabilities, which is a win-win for the company.By End-User Industry:-
- Chemicals
- Energy & Power
- Oil & Gas
- Water & Wastewater Treatment
- Building & Construction
- Paper & Pulp
- Metal & Mining
- Agriculture
- Semiconductor
- Pharmaceutical
- Food & Beverage
By Region-
- North America-
- The US
- Canada
- Mexico
- Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of Middle East and Africa
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