Hybrid valves are used widely in process industries such as oil & gas, chemicals, pharmaceuticals, metal & mining, energy & power, and others for reducing noise & vibrations. The hybrid valves market size is expected to be valued at USD 1.0 billion in 2019 and is likely to reach USD 1.4 billion by 2024, at a CAGR of 6.4% during the forecast period.
The need for controlling excessive noise, pressure, vibration, and cavitation in critical processes; and corrosion problems in the oil & gas industry are among the key driving factors for the hybrid valves industry. 3D printers in manufacturing lines and an increase in the number of refineries and petrochemicals and chemicals plants worldwide are fueling the growth of the market.
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Emerson Electric Co. (US), IMI Plc. (Finland), Trillium Flow Technologies (US), Circor International Inc (US), Parcol S.P.A. (Switzerland), Koso Kent Introl Pvt. Ltd. (UK), Wuxi Smart Auto-Control Engineering Co. LTD. (China), Chemtrols Emet Pvt. Ltd. (India), Dymet Alloys (UK), and Carter Process Control GmbH (Austria), among others, are some of the leading players operating in the middle. Major players in the hybrid valves industry have primarily adopted the strategy of product launch, acquisition, and partnership to strengthen their position in the market.
Emerson (US) and Dymet alloys (UK) are among the major players in the hybrid valves market. Emerson (US) is a leader in process control solutions and overall valve industry. The company has shown consistent growth in the market by helping its customers achieve superior projects and operational efficiencies through its extensive product portfolio and vertical industry expertise. The company provides industry-specific engineering, consulting, project management, and maintenance services to industries such as alternative energy, chemical, food & beverages, and industrial energy, life sciences, marine, metals and mining, oil & gas, power, pulp and paper, refining, and water treatment. The company offers various types of hybrid valves under the company’s Fisher Valves.
Emerson has achieved a market leadership position in the hybrid valves market by developing and deploying cutting-edge technologies and gaining outstanding customer support globally. Product development and market offerings are the company’s core competencies that help Emerson to gain a dominating position over its competitors in the hybrid valves market.
Dymet alloys (UK) specializes in the manufacture of tungsten carbide hard metals and tungsten carbide products, which are used in engineering and industries from the petrochemical to motorsport. The company manufactures disc/trim products for the hybrid valve, which includes control valve assemblies and flow trim components, disc stack assemblies, and centrifuge tile assemblies for flow control applications. The company intends to develop prototypes and produce tungsten carbide products for hybrid valves for the toughest applications in the oil & gas industry. The company should invest in organic and inorganic developments, which will help to gain more market share in the hybrid valve market.
Hybrid Valve Market by Material (Steel, Tungsten Carbide, Alloy, Titanium, Duplex Nickel), Valve Size, End-Use Industry (Oil & Gas, Water & Wastewater, Energy & Power, Chemicals, and others), and Region - Global Forecast to 2024
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