APAC to grow at the highest rate: The industrial valves market

The industrial valves market is expected to witness high growth during the forecast period. The overall market is expected to grow from USD 67.45 Billion in 2016 to USD 84.30 Billion by 2023, at a CAGR of 3.60% between 2017 and 2023. The base year considered for the study is 2016, and the forecast period provided is between 2017 and 2023. 

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The objective of the report is to provide a detailed analysis of the market based on material type, valve type, size, industry, and region; information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges); and a detailed value chain analysis. Moreover, the objective of this report is to strategically profile the key players and competitive landscape for market players, and provide information on product launches, acquisitions, partnerships, agreements, contracts, and collaborations in the industrial valves market.

Steel valves expected to hold the largest market size by 2023

Stainless steel valves are likely to propel the industrial valves market growth. As a result, steel is the key contributing material in the industrial valves market during the forecast period. In the landscape of industrial valves market, various industry players offer steel valves for industries such as oil & gas, chemical, water & wastewater, and many others.

The market for the energy & power industry to grow at the highest rate during the forecast period

The industrial valves market for the energy & power industry is likely to grow at the highest rate during the forecast period. This is mainly because of the increasing energy & power need from developing economies and increasing power generation plants across the globe.

Globe and ball valves to hold a larger share of the industrial valves market by 2023

Globe and ball valves are expected to contribute significantly in industrial valves market owing to the increasing demand from industries such as, oil & gas, energy & power, chemical and water & wastewater. Additionally, being one of the reliable valve types, these two industrial valves are likely to be used in nuclear power plants.

The ecosystem for industrial valves comprises manufacturers such as AVK Holding (Denmark), Avcon Controls Private Limited (India), Cameron – Schlumberger (US), Crane Co. (US), Emerson (US), Flowserve (US), Forbes Marshall (India), IMI Plc. (UK), Metso (Europe), Neway Valves (China), Velan Inc. (Canada), Samson AG (Germany), Spirax Sarco (UK), and The Weir Group Plc. (UK).

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