NEW YORK, February 21, 2017 /PRNewswire/ --
Recovering oil & gas sector and growing focus towards industrial expansion by various countries in the region to drive demand for industrial valves in Africa through 2021
According to a recently published TechSci Research report "Africa Industrial Valves Market By Type, By End User, By Country, Competition Forecast and Opportunities, 2011 - 2021", industrial valves market in Africa is forecast to surpass USD4 billion by 2021. Oil & gas sector in Africa has been one of the highest demand generator for industrial valves over the past few years. Crude oil production in Africa stood at 398 million tonnes in 2015. Thus, boosting demand for industrial valves in the region during 2011-2015. However, crude oil prices significantly declined globally, over the past few years. Consequently, majority of Africa countries are now focusing on developing other industrial sectors, in order to reduce dependence on oil & gas sector. Petrochemical, power and mining sectors also require valves for various industrial purposes, and investment in these sectors are also rising to further develop infrastructure of these sectors. Therefore, aforementioned factors are anticipated to fuel demand for industrial valves in Africa 2016-2021.
Oil & Gas Production in Algeria, 2015 (Million Ton)
Production (in Segment Tons) Oil 68.5 Gas 74.7
Browse 17 market data Tables and 42 Figures spread through 143 Pages and an in-depth TOC on
"Africa Industrial Valves Market"
Ball valves garnered highest market share in Africa industrial valves market in 2015, and market share of this valve type is further anticipated to rise through 2021, owing to growing demand from oil & gas production sites. Nigeria and Egypt were the largest industrial valves market in Africa over the past few years, and these countries are further forecast to continue dominate the market through 2021. Leading end users of industrial valves in Africa are oil & gas, power, chemical, etc., as valves are used to control and manage the flow of liquid or gas in the respective industry.
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"Industrial valves market in Africa is majorly import driven, as various global industrial valve manufacturers such as Flowserve, Pentair Ltd., Emerson Process Management and Weir Group supply valves in number of African countries. These companies operate in Africa industrial valves market through their sales offices and channel partners. Local distributors import industrial valves from these industrial valve manufacturers and then supply them in the regional market. The manufacturers of industrial valves have strategic partnership with distributors, in order cater demand for industrial valves in Africa. Thus, rising mergers and acquisitions, coupled with expanding industrial valves replacement market in Africa are further expected to boost growth in Africa industrial valves market through 2021." said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"Africa Industrial Valves Market By Type, By End User, By Country, Competition Forecast and Opportunities, 2011 - 2021" has evaluated the future growth potential of industrial valves market in Africa and provided statistics and information on market structure, industry behavior and trend. The report includes market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyses emerging trends along with essential drivers, challenges and opportunities available in industrial valves market in Africa.
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