Global Industrial Valves Industry Report: Analysis and Forecast 2022-2027
Industrial Valves Industry Report by Regional Category Spend, Price Analysis, Key Demand, Price Indicators, and Best Buying Practices
In 2021, the worldwide industrial valves market is estimated to be worth approximately USD 89.8 billion. The market is expected to develop at a CAGR of roughly 3.5 percent between 2022 and 2027, reaching a value of USD 115 billion by 2027.
The industrial valves industry research delves into the industry’s key segments, trends, drivers, competitive landscape, restraints, and other critical market factors. The rapid speed of global industrialisation has resulted in an increase in demand for industrial valves in recent years.
These industrial valves make it simple and inexpensive to manage material movement in all major industries. Asia Pacific is the region with the greatest category spender, increasing demand for the industrial valves business.
Industrial Valves: Industry Definition and Segmentation
Automatic mechanical tools or devices that act as checks or mechanisms utilised to control and monitor the movement of water or liquids, slurries, and gases are termed as Industrial valves. In other words, the flow of gases or any liquid through pipes or other passageways by the route of opening, closing, and partially distributing the vaults are regulated by valves.
Industrial valves are largely being applied in several industries to control and operate the tide of resources. Likewise, they are constructed to hold and monitor elevated pressure and high temperature whilst presenting a superior level of proficiency.
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The Industrial valves industry report comprises segments:
- By Type – globe, ball, gate, butterfly, plug, safety relief, and check
- By Application – oil and gas, power, water and wastewater, refining, chemical and petrochemical, paper and pulp, iron and steel, and pharmaceutical
- By Region – Europe, North America, Asia Pacific, and Latin America
Snapshot of the Report
The regional markets for the industry can be divided into Europe, North America, Asia Pacific, and Latin America.
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With the increase in the demand for fuel across the globe, several nations are introducing new oil and gas discovery projects. This is projected to propel the demand for advanced valve technology. Correspondingly, many water treatment plants are being opened to fulfil the increasing need for freshwater demand globally.
As a result of this, the industrial valve market will witness skyrocketing growth in the near future. Moreover, the prominent companies in the market are concentrating on launching green and digital products that will help specialists to manage and examine the flow of materials from distant places. This will in return support them to intensify their sales.
In addition, the governments around the world are witnessing a lot of responsibilities arising from expanding population and worldwide fast urbanisation. Hence, governments at the global level are investing increasingly to cater to the basic needs of the public such as freshwater and gas. Vigorous progress in the water industry with the formation of new gas distribution systems is projected to enlarge the growth of the industrial valves industry.
Category Insight by Region
The Asia Pacific region excluding Japan is leading the international industrial valve market, by holding 42.2% of the share in 2022. The utilisation of industrial valves is increasing in the region primarily because of the rising oil and gas industrial activities, the augmentation of residential and commercial sectors, and the subsequent growing requirement for treating the water in countries like India and China.
Along with these factors, government assistance is also anticipated to promote the growth in the demand for industrial valve usage in the Asia Pacific region.
Best Procurement Practices
The global industrial valves industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by industrial valves providing and utilising regions across the globe, such as contract terms, engagement models, and buyer and supplier negotiation levers, among others.
Category Management Studies
A lot many factors add to the efficiency of the intricate manufacturing process of the industrial valve including raw material procurement, machining, heat treatment, welding, assembly, and testing. Once the design is finalised and the orders are placed, the production unit looks for the raw materials to be used for the stem, spool, body, and bonnet. Thereafter the production process begins performing numerous activities in the process of manufacturing industrial valves.
All the main components are produced individually. The two popular methods of manufacturing valves are the casting method and the forged method. After the production process is completed, the technicians assemble all the valve components. The valves are then sent for pressure testing for leakage. Finally, valves go through meticulous quality testing and inspection for leaks and other production faults before the manufacturing companies hand over the order to their clients.
Key Supplier Profiles included in the Global Industrial Valves Industry Report
The key market players are The Flowserve Corporation, KITZ Corporation, Metso Automation, Schlumberger Limited, and Pentair Plc.
The report covers capacity additions, plant shutdowns, investments/divestments, mergers and acquisitions, and other latest developments in the market.
Also Check Other Industry Reports
- Warehousing Services Industry Report – https://www.marketwatch.com/press-release/global-warehousing-industry-report-analysis-and-forecast-2022-2027-2023-01-12
- Forging Industry Report – https://www.marketwatch.com/press-release/global-forging-industry-report-analysis-and-forecast-2022-2027-2023-01-12
- Hydraulic Fracturing Services Industry Report – https://www.marketwatch.com/press-release/global-hydraulic-fracturing-services-industry-report-analysis-and-forecast-2022-2027-2023-01-12
- Fuel Oil Industry Report – https://www.marketwatch.com/press-release/global-fuel-oil-industry-report-analysis-and-forecast-2022-2027-2023-01-12
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