Global Industrial Valves Market Report, Forecast to 2024 - Schlumberger, Emerson Electric Co, Flowserve Corp, IMI, and Crane Co are Leading the Competition
DUBLIN, March 13, 2019 /PRNewswire/ -- The "Industrial Valves Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The global industrial valves market is expected to record a CAGR of 5.33% during the forecast period of 2019 and 2024.
The major factor driving the market studied is the growing demand from the power and chemical industries. Stagnant industrial growth in developed countries is expected to hinder the growth of the market studied.
- The oil and gas industry dominated the market in 2017, and it is expected to experience growth during the forecast period, owing to the increasing oil and gas activities across the world.
- Increasing demand for automatic valves is likely to act as an opportunity in the future.
- Asia-Pacific dominated the market across the world, with the largest consumption from countries, such as China and India.
Key Market Trends
Increasing Demand from Power Industry
In the power industry, valves are used for various applications, such as boiler startups, feed pump recirculation, steam conditioning, and turbine bypass.
For instance, valves in the condensate system are used to control and regulate the additional flow required for a fluid recirculation condensate pump. Furthermore, valves are also used to control the deaerator level for the feedwater heater.
For the food water system in the power industry, valves are used for boiler feed pump recirculation and the valve plays a key role in this scenario, as it should be operated in on-off and modulating service.
Additionally, in mainstream systems, the valves are used for superheaters, turbine bypass, superheater bypass, etc. A modulating valve is used for controlling pressure.
As of December 2017, 61 nuclear power plants, with 99 nuclear reactors were operating commercially in the United States. The government is planning for a number of new reactor installations, in order to increase nuclear-based power generation. Hence, the country is expected to witness four new units, which are expected to come online by 2021.
Additionally, the government's focus on increasing the capacity additions of power plants across the country is the factor that is boosting the demand for cooling water treatment chemicals. Such aforementioned factors are boosting the demand for valves in the power industry.
Asia-Pacific Region to Dominate the Market
The Asia-Pacific region dominated the global market share in 2017. With growing oil and gas industrial activities and the increasing need for water treatment in countries, such as China, India, and Japan, the usage of industrial valves is increasing in the region.
The consumption of industrial valves is high in oil and gas, and downstream production has increased in the country. This is further increasing the production capacities of petrochemicals, thus augmenting the consumption of industrial valves in the country.
Chemical plants are another prominent end-user industry in China. Many major companies in the market have their chemical plants in China. These companies increased their production capacities, in order to increase the consumption of industrial valves. The other major industry in the country is the water treatment facility, which is used in different industries.
The growing fuel demand is augmenting the demand to increase the refining capacity, due to increased sales of passenger cars, replacement of LPG as a cooking fuel, increasing urbanization, along with the demand for infrastructure and consumer goods.
The aforementioned factors, coupled with government support, are contributing to the increasing demand for industrial valves consumption in the region during the forecast period.
Competitive Landscape
The global industrial valves market is highly fragmented, with the top 10 players accounting for 15% of the total market share. The major companies include Schlumberger Limited (previously Cameron International), Emerson Electric Co., Flowserve Corporation, IMI PLC, and Crane Co.
Topics Covered
1 Introduction
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 Research Methodology
3 Executive Summary
4 Market Dynamics
4.1 Market Drivers
4.1.1 Growing Demand from the Power Industry
4.1.2 Increase in Demand for Desalination Activity
4.1.3 Increase in Demand from the Chemical Industry
4.2 Market Restraints
4.2.1 Stagnant Industrial Growth in Developed Countries
4.3 Value Chain / Supply Chain Analysis
4.4 Porter's Five Forces Analysis
5 Market Segmentation
5.1 Type
5.1.1 Butterfly Valve
5.1.2 Ball Valve
5.1.3 Globe Valve
5.1.4 Gate Valve
5.1.5 Plug Valve
5.1.6 Other Types
5.2 Product
5.2.1 Quarter-turn Valve
5.2.2 Multi-turn Valve
5.2.3 Other Products (Control Valves)
5.3 Application
5.3.1 Power
5.3.2 Water and Wastewater Management (Including Desalination)
5.3.3 Chemicals
5.3.4 Oil and Gas
5.3.4.1 Upstream
5.3.4.2 Mid-stream
5.3.4.3 Downstream
5.3.5 Food Processing
5.3.6 Other Applications
5.4 Geography
5.4.1 Asia-Pacific
5.4.2 North America
5.4.3 Europe
5.4.4 South America
5.4.5 Middle East & Africa
6 Competitive Landscape
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations and Agreements
6.2 Market Share Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Alfa Laval
6.4.2 AVK Holding AS
6.4.3 Broer Group
6.4.4 CIRCOR International Inc.
6.4.5 Crane Co.
6.4.6 Curtiss-Wright Corporation
6.4.7 Danfoss AS
6.4.8 Emerson Electric Co.
6.4.9 Georg Fischer Ltd.
6.4.10 Flowserve Corporation
6.4.11 General Electric (Baker Hughes)
6.4.12 Hitachi Metals Ltd.
6.4.13 Honeywell International Inc.
6.4.14 IMI PLC
6.4.15 ITT Inc.
6.4.16 KITZ Corporation
6.4.17 Mueller Water Products Inc.
6.4.18 NIBCO INC.
6.4.19 Okano Valve Mfg. Co. Ltd.
6.4.20 Saint-Gobain
6.4.21 Schlumberger Limited
6.4.22 TechnipFMC PLC
6.4.23 The Weir Group PLC
6.4.24 Valvitalia S.p.A
6.4.25 Xylem
6.4.26 DUNAN
7 Market Opportunities and Future Trends
7.1 Increase in Demand for Automatic Valves
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