Industrial Valves: Market Size Estimation

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.

The report also profiles the most promising players in this market. The competitive landscape of the market presents an interesting picture where a large number of players have become a force to reckon with. The key players in this market are 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).

Globe and Ball valves accounted for the largest share of the industrial valves market in 2016. This growth can be attributed to its usage for subsea applications, high temperature service, high pressure service, abrasive service, cryogenic service, sour service, and cryogenic service in the industries such as oil & gas, water & wastewater, chemical, and pulp & paper industries. Additionally, in the oil & gas industry, ball valves are mainly used for stopping and starting the flow of any fluid, moderate throttling, and flow diversion.

The industrial valves market for the energy & power industry is expected to grow at the highest rate between 2017 and 2023. This high market growth rate can be attributed to the rapidly growing population and demand from emerging economies such as China, India, and Brazil.

The APAC region accounted for the largest share of the overall industrial valves market in 2016. This growth can be attributed to the increasing demand for power from the oil & gas industry. This demand in power generation is a direct result of rapidly growing population as well as industrialization. Growing demand for transportation and power from emerging economies such as China, India, and Brazil can propel the market growth during the forecast period.

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