Dublin, July 12, 2021 (GLOBE NEWSWIRE) -- The "Global Industrial Valves Market, By Valve Type (Globe Valve, Ball valve, Butterfly valve, RSV Gate Valve, Wedge Gate Valve, Check Valve, Diaphragm Valve & Others), By Material Type, By Application, By Product, By Region, Competition Forecast & Opportunities, 2015 - 2025" report has been added to ResearchAndMarkets.com's offering.
The Global Industrial Valves Market stood at around USD65 billion in 2019, and is forecast to surpass USD80 billion by 2025, on account of extensive use of industrial valves in oil & gas and power industries.
Other factors expected to boost the demand for industrial valves in the coming years include rising number of government initiatives towards wastewater treatment and providing clean water to the citizens, increasing number of commercial construction projects and replacement of aging water pipelines. Moreover, growing focus on the development of high-performance smart valves is anticipated to thrive the Global Industrial Valves Market through 2025.
On the basis of application, the industrial valves market is segmented into oil & gas, refinery, chemical, water, wastewater effluent, power generation, agriculture, mining and others. In 2019, oil & gas segment accounted for the largest market share as these sectors require valves for controlling flow rates, protect equipment, and guide and direct the refining process of crude oil. Apart from these, the growing production of oil and gas fuel has contributed to the increased usage of industrial valves.
In the type segment, the Global Industrial Valves Market was dominated by globe valves in 2019, owing to features such as low resistance to fluid flow and superior sealing capabilities.
In terms of region, the Global Industrial Valves Market is categorized into North America, Europe, Asia-Pacific, South America and Middle East & Africa. Among the regions, Asia-Pacific dominated the Global Industrial Valves Market with a market share of around 37% in 2019 and is anticipated to maintain its position during forecast period as well.
This growth can be attributed to the growing industrial activities across the countries in Asia-Pacific region, such as growing number of oil and gas, chemical, water and many other manufacturing plants.
Also, increasing construction activities and booming consumption of chemicals are anticipated to positively impact industrial valves market in the Asia-Pacific. Furthermore, growing construction of new nuclear power stations and capacity expansions in petroleum refining plants are also expected to drive the demand for industrial valves across the region.
Some of the major players operating in the Global Industrial Valves Market are
- Emerson Electric Co.
- Flowserve Corporation
- Alfa Laval Corporate AB
- Crane Co.
- CIRCOR International Inc.
- Curtiss-Wright Corporation
- IMI plc
- MRC Global INC
- Metso Corporation
- Neway Valve (Suzhou) Co. Ltd.
- The Weir Group PLC
- Velan Inc.
- ITT Inc.
- Invincible Valves (Pty) Ltd.
- Cameron International
- L&T Valves Limited
- A.C. Valves CC
- Ainsworth Engineering (Pty) Ltd.
- AZ Amaturen Pty Ltd
- Cobra Isca Pty Ltd
- Dual Valves (Pty) Ltd.
- eDart Slurry Valves Pty Ltd
- MRC Global Inc.
- Floval Pty Ltd
- Ithuba Valves & Industrial Supplies
- Paltechnologies Pty Ltd
- AVK Holdings SA Pty Ltd
- RGR Technologies Pty Ltd
- Valco Group SA Pty Ltd.
Years considered for this report:
- Historical Years: 2015-2018
- Base Year: 2019
- Estimated Year: 2020
- Forecast Period: 2021-2025
Report Scope:
Market, by Valve Type:
- Globe Valve
- Ball Valve
- Butterfly Valve
- RSV Gate Valve
- Wedge Gate Valve
- Knife Gate Valve
- Check Valve
- Automatic Control Valve
- Pinch Valve
- Diaphragm Valve
- Float Valve
- Air Valve
- Others
Market, by Material Type:
- Steel
- Alloy Based
- Cast Iron
- Cryogenic
- Others
Market, by Application:
- Oil & Gas
- Power Generation
- Refinery
- Water
- Wastewater Effluent
- Chemicals
- Agriculture
- Mining
- Others
Market, by Product:
- Multi-Turn Valve
- Quarter-Turn Valve
- Others
Market, by Region:
- North America
- United States
- Canada
- Mexico
- Europe
- Russia
- Germany
- Italy
- UK
- France
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Iran
- Nigeria
- Egypt
- Kuwait
- Angola
- South Africa
- Morocco
- Rest of Middle East & Africa
- South America
- Brazil
- Argentina
- Venezuela
- Rest of South America
Competitive Landscape
- Competition Benchmarking: Benchmarking of leading 10 players on the basis of market share.
- Company Profiles: Detailed analysis of the major companies present in the industrial valves market.
For more information about this report visit https://www.researchandmarkets.com/r/xgy285