Bangalore, India, August 24, 2020 /PRNewswire/ – The main factors that are expected to increase the growth of the industrial valve market include the increasing demand for pharmaceutical valves due to the outbreak of the COVID-19 pandemic, and increasing attention With the development of smart cities, there is a growing demand for industrial equipment maintenance and monitoring networking, as well as an increasing demand for the establishment of new nuclear power plants and the reconstruction of existing nuclear power plants.
The global industrial valve market is expected to increase from US$86.2027 billion in 2019 to US$107.356.7 billion in 2027, with a compound annual growth rate of 3.5% from 2020 to 2027.
Valves widely used in industry include globe valves, butterfly valves, ball valves, gate valves, plug valves, pinch valves, diaphragm valves and check valves.
Detailed analysis of the impact of COVID-19 on the industrial valve market: https://reports.valuates.com/request/sample/ALLI-Manu-2H31/Industrial_Valves_Market
Oil and gas is one of the key industries that use valves. The oil and gas industry has been severely affected by the COVID-19 pandemic, and oil prices have plummeted like never before. Major oil companies run out of storage space for refined oil products, and demand is on a downward trend.
Water and wastewater treatment and energy and power industries are also facing a decline in demand for industrial valves. Due to the closure of international borders, the inoperability of distribution networks, and various government regulations, the use of public health and safety precautions in foreign trade has been restricted. However, due to the increasing desire for healthier and safer lifestyles, it is expected that people will pay more and more attention to personal hygiene and environmental hygiene.
The use of diagnostic technology in smart industrial valves to track the growth of upstream and downstream valve stem pressure positions, temperature and flow rate and other process variables is expected to drive the growth of the industrial valve market during the forecast period.
Advances in smart valves with optimized embedded processors and subsea oil and gas network functions have improved the stability and sensitivity of the device, and are expected to become a high-impact rendering engine.
It is expected that the increase in pipeline installation and the development of unconventional oil and gas applications in the downstream field will bring substantial growth in the scale of the industrial valve market. In addition, the increasing popularity of automation in process manufacturing has led to an increasing demand for automatic control valves.
The coronavirus outbreak has made people more concerned about clean water and sanitation. Sewage and wastewater treatment is one of the basic public utilities, so the operation of the factory is for all public services. Therefore, investment in the development of water treatment plants is expected to promote the growth of the industrial valve industry.
In addition, due to the outbreak of the COVID-19 pandemic, demand from the healthcare and pharmaceutical industries continues to increase, which in turn is expected to expand the scale of the industrial valve market. Industrial valves play an important role in the manufacture of different types of medical devices, and many major players in the industry take this opportunity to fight the deadly coronavirus pandemic.
Emotional use of coal and the closure of traditional coal-fired power plants are some factors that may hinder the growth of the industrial valve market. Fluctuations in raw material prices will reduce the use and adoption of this technology. In addition, compliance with strict government regulations for traditional power plants will also hinder the development of the industry.
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On-off/isolation valves will occupy the largest industrial valve market share in 2025 because they can meet the strict shut-off standards of different industries. The switch/isolation valve is one of the most important and essential elements in modern society. Switch/isolation valves are used in almost all manufacturing processes and every energy production and supply network.
In 2019, industrial steel valves have the largest market share. The growing demand for high-quality industrial valves in the food and beverage, chemical, pharmaceutical, metal, and mining industries to reduce the threat of pollution is currently driving the demand for industrial steel valves.
Based on this region, North America is expected to have the largest industrial valve market share. North America is a major industrial valve market with some of the world’s largest multinational companies, including Emerson (United States), Cameron-Schlumberger (United States), Flowserve Corporation (United States), Crane Co. (United States). One of the key factors driving the North American market is the growing R&D activities in this area, which are related to the use of actuators in valves to achieve automation and the growing demand for safety applications. The increasing demand for industrial valves in North America has increased the demand for imported industrial valves from other countries, thereby driving market growth.
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By 2026, the global industrial valve and actuator market is expected to reach US$90.99 billion from US$87.85 billion in 2020.
Increasing demand from industrial sectors such as oil and gas, water and wastewater treatment, and energy and power are expected to drive the growth of the industrial valve and actuator market. In addition, technological development has promoted the use of smart valves and actuators, which in turn is beneficial to the market.
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In 2019, the global plug valve market was worth US$245 million and is expected to reach US$279.4 million by the end of 2026, with a compound annual growth rate of 3.1% from 2021 to 2026.
By 2026, the global diaphragm valve market is expected to increase from USD 366.6 million in 2020 to USD 374.1 million
The increasing demand of the radioactive waste management industry is one of the main factors driving the growth of the diaphragm valve market during the forecast period. Due to the rapid development of industrialization and the increase in population, the demand for electricity is increasing. Increasing power demand will promote the construction of nuclear power plants (which is considered the second largest source of power generation). For such facilities, diaphragm valves are used to control the disposal of nuclear waste in many applications.
Leaders in the oil and gas industry have close ties with needle valve manufacturers and suppliers. Since the entire equipment must be kept at a low temperature to convert gas into liquid, companies require valve suppliers and manufacturers to produce components that are durable under low temperature conditions.
The upstream valve is used to control the oil flow, and is equipped with a high-pressure injection system to blow out the blowout preventer and block the valve.
In the entire midstream part, from deep sea processing and transportation of oil and natural gas, valves are used to protect equipment while regulating flow.
The downstream part uses high-pressure valve design to provide raw materials for the petrochemical industry.
View the full report: https://reports.valuates.com/market-reports/QYRE-Othe-4E285/industrial-valves-in-oil-and-gas
View the full report: https://reports.valuates.com/market-reports/QYRE-Auto-14F1435/global-industrial-control-valves
By 2022, the control valve market is expected to reach USD 13.674 billion, with a compound annual growth rate of 7.6% during the 2016-2022 forecast period
View the full report: https://reports.valuates.com/market-reports/QYRE-Auto-35N3008/global-industrial-ball-valves
View the full report: https://reports.valuates.com/market-reports/QYRE-Auto-5J1831/global-industrial-butterfly-valves
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Post time: Nov-18-2021
