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

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 research methodology used to estimate and forecast the size of the industrial valves market begins with obtaining data on key vendor revenues through secondary research. Some of the secondary sources used in this research include information from various journals and databases such as IEEE journals, Factiva, Hoover’s, and OneSource. 

The vendor offerings have also been taken into consideration to determine the market segmentation. The bottom-up procedure has been employed to arrive at the overall market size for industrial valves from the revenue of the key players. 

This data triangulation and market breakdown procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The analysis of the market includes extensive primary research to gather information, verify, and validate critical conclusions arrived at after an extensive secondary research.

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).

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.

The market in APAC is expected to grow at the highest CAGR during the forecast period. The high growth can be attributed to the increasing demand from the oil & gas, chemical, and water & wastewater industries. Developing economies such as China and India hold significant position in the chemical processing industry. Demand generated from chemical, oil & gas, and water & wastewater is likely to spearhead the growth rate of APAC 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).

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