Kenneth Research, in its repository of market research reports, has recently added a report on Industrial Valves Market that emphasizes the latest trends, key opportunities, drivers, and challenges associated with the growth of the market during the forecast period, i.e., 2022 – 2031. The Industrial Valves Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Industrial Valves Market products.
Final Report will add the analysis of the impact of COVID-19 on this industry.
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Kenneth Research, in its repository of market research reports, have recently added a report on Industrial Valves Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022 2031. The Industrial Valves Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017.
By Material Type (Cast Iron, Steel, Cryogenic, Alloy Based), Size, Valve Type (Ball, Butterfly, Gate, Globe, Check, Plug), Industry (Oil & Gas, Water & Wastewater, Energy & Power) and Regional Market Size, Status and Forecast to 2025.
The global Industrial Valves Market was valued at USD 67.34 billion in 2016 and is projected to reach USD 92.42 million by 2025, growing at a CAGR of 3.58% from 2017 to 2025.
Industrial valves are involved in variety of factories and manufacturing units. With increasing end user demands and demand of consumer goods, the market is expected to grow in the forecast period at a high CAGR.
1. Market Drivers
1.1 Increasing requirement of Oil and Gas production related facilities in Gulf corp. Council Countries
1.2 High demand of Energy fuel in APAC
1.3 Increasing focus on Smart cities in emerging economies
1.4 Revenue shift in industry
1.5 Increasing demand of Automation for monitoring and maintenance
2. Market Restraints
2.1 Lack of Standardization in Certifications and Policies
2.2 Slowdown in Oil & Gas and Mining Industries
2.3 Downtime Due to Repairing of Valves
2.4 Lack of Product Differentiation
1. Global Industrial Valves Market, by Valve Type:
1.1 Ball Valve Market
1.2 Butterfly Valve Market
1.3 Gate Valve Market
1.4 Globe Valve Market
1.5 Plug Valve Market
1.6 Diaphragm Valve Market
1.7 Safety Valve Market
2. Global Industrial Valves Market, by Material Type:
2.2 Cast Iron
2.3 Alloy Based
3. Global Industrial Valves Market, by Industry:
3.1 Oil & Gas
3.2 Water & Wastewater
3.3 Energy & Power
3.5 Food & Beverages
3.7 Building and Construction
4. Global Industrial Valves Market, by Size:
4.1 Up to 1”
4.5 50” & Above
5. Global Industrial Valves Market, by Region:
5.1 North America (U.S., Canada, Mexico)
5.2 Europe (Germany, UK, France, Rest of Europe)
5.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
5.4 Latin America (Brazil, Argentina, Rest of Latin America)
5.5 Middle East & Africa
The major players in the market are as follows:
1. AVK Holding A/S
2. Avcon Controls Pvt Ltd
3. Cameron – Schlumberger
4. Crane Co.
6. Flowserve Corporation
7. Forbes Marshall
8. IMI PLC.
9. Kitz Corporation
10. Metso Corporation
11. Neway Valves (Suzhou) Co., Ltd.
12. Pentair PLC
13. Velan Inc.
14. Samson AG
15. The Weir Group, PLC
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Industrial Valves Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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