Sarasota, FL, Aug. 24, 2016 (GLOBE NEWSWIRE) -- Zion Research has published a new report titled “Industrial Valves Market by Type (Gate, Butterfly, Ball, Check, and Globe) for Oil & gas, Chemical, Power, Water & Wastewater and Other Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 - 2021.” According to the report, the global Industrial Valves market accounted for USD 65.0 Billion in 2015 and is expected to reach USD 88.4 Billion by 2021, growing at a CAGR of around 5.3% between 2016 and 2021.
Developing countries such as India, China & Brazil are continuously expanding their industrial infrastructure. Rising urbanization has led industrial valve market to grow rapidly from past few years. Increasing offshore oil and gas projects across the globe, rising demand from manufacturing & process industry due to improved safety and reduced operating costs, ongoing efforts to expand water infrastructures in developing countries are the major factors expected to favor the growth of industrial valve market.
Browse 13 Market Tables and 24 Figures spread through 110 Pages and an in-depth TOC on "Industrial Valves Market - Global Size, Shares, Trends, Segment & Forecast to 2021”
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On a contrary, uncertainty in crude oil prices which makes project economically unstable may hamper the market growth over the years to come. Nonetheless, rising demand of energy from all sectors is expected to open up new growth opportunities in the coming years.
Ball valve accounted 20% of revenue share of the overall market in 2015. Ball valves are quarter-turn, straight-through valves used in situations where tight shut-off is required. Use of gate valves in application sector such as oil and gas industry, pharmaceuticals, manufacturing, automotive, and marine is expected to experience significant growth in the forecast period.
Along with 22% revenue share oil & gas application segment emerged as a largest application segment in 2015. Increasing pipeline installations and need for monitoring & controlling from centralized location has prompted the growth & demand of industrial valves. Ongoing efforts to expand water infrastructures in developing countries are expected to show significant growth in water & wastewater application segment.
Browse the full "Industrial Valves (Gate, Butterfly, Ball, Check, Globe) Market for Oil & Gas, Chemical, Power, Water & Wastewater and Other Applications: Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021" report at https://www.zionmarketresearch.com/report/industrial-valves-market
In North America, growing production of oil sands and shale gas offers great potential for growth of industrial valves market. Technological innovation, replacement of old and inefficient valves with more efficient valves for oil & gas transportation are the major factors anticipated to impact industrial valves market positively in North America.
Growing construction of new nuclear power stations, increasing demand in industries such as oil and gas is expected to be high impact rendering factors for the growth of Asia Pacific market in forecast period. In addition, ongoing efforts to expand water infrastructures in India, China and Indonesia coupled with increasing demand from chemical and mining industries is fueling the growth of market in this region.
Europe is expected to offer slower growth rate compared to other regions. However, increasing demand from Russia in the midstream segment of oil & gas is expected to favor the market growth.
Middle East & Africa is considered to be one of the fastest growing regions for this market. Increasing demand of petrochemical products like paints, polymers and plastics in Africa coupled with rising manufacturing as well as process industries in Middle East region is expected to fuel demand of industrial valves in coming years.
Latin America is estimated to witness significant growth in the forecast period. The growth of industrial valves market in Latin America is mainly attributed to increased growth of oil and gas sector in Brazil.
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Key players profiled in the report include Alfa Laval, Velan Inc., GWC Valve International Inc, Delta Pacific Valves Ltd., Cameron International, Goodwin Plc , Camtech Valves , Pentair Plc. , Neway Valve (Suzhou) Co., Ltd. and Valvitalia S.P.A amongst others.
This report segment of the global of industrial valves market as follows:
Industrial Valves Market: Type Segment Analysis
- Gate valve
- Butterfly valve
- Ball valve
- Check valve
- Globe valve
Industrial Valves Market: Application Segment Analysis
- Oil & gas
- Chemical
- Power
- Water & wastewater
- Other application
Industrial Valves Market: Regional Segment Analysis
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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