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New Revenue Pockets - Industrial Valves Market
Industrial valves are devices used for flow regulation and control in piping systems. Valves are used to regulate, start and stop, or control the direction of a fluid or gas, flowing through the piping system.
Developing nations provide a good opportunity for the manufacturer or the providers for the Industrial valves. These markets have high usage of such equipment for eliminating both technical and commercial losses. Asia-Pacific houses two of the biggest economies of the world, China and India with high urbanisations and industrialization rates. This in turn affects the growth and development of the oil & gas, Power and other major end user industries for Industrial valves. Thus, the region is expected to lead the global market for the industrial valves.
Industrial valves are used worldwide for their applications in various segments such as oil & gas, municipal applications, power and chemical sectors to name a few. Industries are the major application for industrial valves owing to their utility and functionality. This equipment if enabled with automation features can provide features such as remote monitoring and control.
In 2013, the global industries market for industrial valves was estimated to be approximately $ 55,123.2 million. Industrial valves are mostly used by process industries. Flow control and regulation is paramount in all process industries. Lack of control and regulation can result in huge losses due to possibility of accidents. Industrial valves are used in industries to regulate the flow, start and stop the flow, or control the direction of a fluid or gas within the piping system.
Industrial valves are available in different types such as ball valves, gate valves, globe valves, check valves, and control valves. Ball valves and Globe valves had the highest demand in 2013 and lead the overall Industrial valve market globally. The Industrial valves such as gate valves and control valves too have a significant market share in the global industrial valves market. The demand for check valves is low due to their limited applications but the market for these valves too is growing at a considerable rate.
The major market players would invest in exploring product portfolios most suited to cater to the trending demands in the market. Partnership/agreement/collaboration activities and mergers & acquisitions are activities which are adopted by the major companies to maintain their leadership position. The market players must make an effort to develop advanced products that suit customers’ changing demands.
Industrial Valves Market by Type (Ball, Globe, Gate, Butterfly and Others), by Application (Oil & gas, Chemical, Municipal, Power, and Others) and by Region (North America, Latin America, Middle East and Africa, Asia–Pacific, and Europe) - Global Trend & Forecast to 2019
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