Industrial Valves Market to Cross $78 Billion by 2021: TechSci Research Report

12 Sep, 2016, 10:30 ET from TechSci Research

NEW YORK, September 12, 2016 /PRNewswire/ --

Anticipated revival of oil prices, increasing energy needs and growing necessity to develop water & wastewater infrastructure to drive global industrial valves market through 2021  

According to a recently published TechSci Research report "Global Industrial Valves Market By Type, By Application, By Region, Competition Forecast and Opportunities, 2011 - 2021", the global industrial valves market is projected to cross $78 billion by 2021, on account of growing energy and water demand, coupled with expanding coal & gas power infrastructure. Moreover, recovering oil prices, increasing exploration & production activities and surging investments in refinery industry are the other major factors anticipated to boost demand for industrial valves over the next five years, globally.

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Browse 21 market data Tables and 143 Figures spread through 290 Pages and an in-depth TOC on "Global Industrial Valves Market"

https://www.techsciresearch.com/report/global-industrial-valves-market-by-type-globe-butterfly-ball-gate-plug-and-others-by-application-oil-gas-power-municipal-refining-chemical-and-others-by-region-competition-forecast-and-opportunities-2011-2021/773.html

Oil & Gas sector dominated global industrial valves market in 2015. Global oil & gas companies are continuously exploring deep sea beds. The days of so-called "easy oil" are over, making it harder to meet demand without complicated and expensive projects. The International Energy Agency, an adviser to energy importing nations, estimates oil supply will have to rise by 39% to reach 116 million barrels of oil per day by 2030 to meet the rising energy demand. Moreover, according to the German Mineral Resources Agency, more than 50% of new oil and natural gas reserves have been discovered in offshore fields beneath the sea bed over the last ten years. In January 2016, oil prices crashed down to $27 per barrel levels. However, the impact of low crude oil prices on the sales of industrial valves across the globe has been nullified to a huge extent by rise in oil refining activities across the globe. With anticipated recovery in crude oil prices, demand for industrial valves is expected to remain high during forecast period.

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Among valve types, globe valves grabbed the largest share in the global industrial valves market in 2015, followed by ball valves, gate valves, butterfly valves and plug valve. "Robust water & wastewater infrastructure play a critical role in economic growth of any country. In addition to growing water & wastewater infrastructure in developing nations, developed regions such as the US and European countries are also suffering from aging pipeline infrastructure. With growing need to develop and expand water & waste water infrastructure, the demand for industrial valves is expected to increase over the next five years, globally." Said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

"Global Industrial Valves Market By Type, By Application, By Region, Competition Forecast and Opportunities, 2011 - 2021" has evaluated the future growth potential of industrial valves market and provides statistics and information on market structure, market size, market share, forecast and trends. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes emerging trends along with essential drivers, challenges and opportunities available in global industrial valves market.

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