DUBLIN, Sept. 13, 2018 /PRNewswire/ --
The "Industrial Valves Market by Material Type (Cast Iron, Steel, Cryogenic, Alloy Based), Size, Valve Type (Ball, Butterfly, Gate, Globe, Check, Plug), Industry (Oil & Gas, Water & Wastewater, Energy & Power), and Geography - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The industrial valve market is expected to grow from USD 70.53 billion in 2018 to USD 85.19 billion by 2023, at a CAGR of 3.96% between 2018 and 2023.
The key factors driving the growth of this market include the increased need for industrial valves from oil and gas production-related facilities in GCC countries, elevated energy demand in APAC, smart city development initiative across the world, high demand for predictive maintenance techniques from manufacturing industries, and stringent environmental and safety regulations to make the energy sector more resilient.
Among all applications, the oil & gas industry is expected to account for the largest size of the industrial valve market during the forecast period. Recent uptrend in the oil & gas industry has boosted the demand for and increased the production of oil and gas in the Middle East and North America. Growing production of oil sands and shale gas fuels the demand for industrial valves in North America, and the increased investments in natural gas exploration and refineries are likely to boost the demand for these valves during the forecast period. Additionally, technological advancements and the adoption of more innovative valves for oil and gas transportation are the major factors that are likely to have a positive impact on the industrial valve market growth.
Cryogenic valves are expected to be the fast-growing segment in the industrial valve market, based on material, during the forecast period. Cryogenic plug valves are expected to be highly installed in the oil & gas and chemicals industries for the isolation application, that is, to separate cryogenic media from other media. The oil & gas, energy & power, and chemicals industries are likely to have high demand for cryogenic ball valves due to their ability of quarter turn on-off operation, minimal lubrication, and capability to provide tight sealing with low torque in cryogenic fluid handling applications and will drive the market for these valves during the forecast period.
Plug valves will be the fastest-growing market for industrial valves during the forecast period. The market for industrial plug valves is expected to grow at a rapid pace in the coming years due to the competitive trend in the APAC and European chemical companies.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Industrial Valve Market
4.2 Industrial Valve Market, By Material
4.3 Industrial Valve Market, By Valve Type
4.4 Industrial Valve Market, By Valve Size
4.5 Industrial Valve Market, By Industry
4.6 Industrial Valve Market in North America, By Country and Industry, 2023
4.7 Industrial Valve Market, By Geography (2018-2023)
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increased Need for Industrial Valves From Oil and Gas Production-Related Facilities in GCC Countries
5.2.1.2 Elevated Energy Demand in APAC
5.2.1.3 Smart City Development Initiative Across the World
5.2.1.4 High Demand for Predictive Maintenance Techniques From Manufacturing Industries
5.2.1.5 Stringent Environmental and Safety Regulations to Make Energy Sector More Resilient
5.2.2 Restraints
5.2.2.1 Lack of Standardized Certifications and Government Policies
5.2.2.2 Slowdown in Oil and Gas Extraction
5.2.2.3 Downtime Due to Repair and Maintenance
5.2.3 Opportunities
5.2.3.1 Integration of Iiot Technology in Industrial Valves
5.2.3.2 Use of 3d Printing in Manufacturing Sector
5.2.3.3 Constant Need for Valve Replacement
5.2.3.4 Increase in Number of Refineries and Petrochemical Plants
5.2.3.5 Rise in the Discovery of Global Offshore Oil Reserves
5.2.4 Challenges
5.2.4.1 Minimization of Lead Times
5.2.4.2 High Cost of Fabrication
5.2.4.3 Existence of Manufacturers Providing Low-Priced Valves
5.2.4.4 Duplication of Technology
6 Industry Trends
6.1 Introduction
6.2 Value Chain
6.3 Consumer Buying Process
6.4 IoT Impact on Industrial Valve Market
7 Industrial Valve Market, By Material
7.1 Introduction
7.2 Stainless Steel
7.3 Cast Iron
7.4 Cryogenic
7.5 Alloy Based
7.6 Others
7.6.1 Brass
7.6.2 Bronze
7.6.3 Plastic
8 Industrial Valve Market, By Valve Type
8.1 Introduction
8.2 Ball Valves
8.3 Butterfly Valves
8.4 Check Valves
8.5 Diaphragm Valves
8.6 Gate Valves
8.6.1 Standard Plate Gate Valves
8.6.2 Wedge Gate Valves
8.6.3 Knife Gate Valves
8.7 Globe Valves
8.8 Plug Valves
8.9 Safety Valves
9 Industrial Valve Market, By Size
9.1 Introduction
9.2 Up to 1
9.3 1-6
9.4 6-25
9.5 25-50
9.6 50 and Larger
10 Industrial Valve Market, By Industry
10.1 Introduction
10.2 Oil & Gas
10.3 Water & Wastewater Treatment
10.4 Energy & Power
10.5 Chemicals
10.6 Food & Beverages
10.7 Pharmaceuticals
10.8 Construction
10.9 Agriculture
10.10 Pulp & Paper
10.11 Metals & Mining
10.12 Others
11 Geographic Analysis
12 Competitive Landscape
12.1 Overview
12.2 Market Player Ranking Analysis
12.3 Competitive Scenario
12.3.1 Competitive Situation and Trend
12.3.2 Acquisitions & Expansions
12.3.3 Product Launches and Developments
12.3.4 Partnerships & Collaborations
12.3.5 Others
13 Company Profiles
13.1 Introduction
13.2 Key Players
13.2.1 Emerson
13.2.2 Weir Group PLC
13.2.3 Flowserve
13.2.4 Cameron - Schlumberger
13.2.5 IMI PLC
13.2.6 Spirax Sarco
13.2.7 Crane Co.
13.2.8 Kitz Corporation
13.2.9 Metso Corporation
13.2.10 Neway Valve (Suzhou) Co., Ltd.
13.3 Other Important Players
13.3.1 Velan Inc.
13.3.2 Samson AG
13.3.3 AVK Holding A/S
13.3.4 Avcon Controls
13.3.5 Forbes Marshall
13.3.6 Swagelok
13.3.7 Ham-Let
13.3.8 Dwyer Instruments
13.3.9 KIM Valves
13.3.10 Apollo Valves
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https://www.researchandmarkets.com/research/bsllxp/global_industrial?w=5
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