Dublin, July 12, 2021–(Business Wire)–”The global industrial valve market, by valve type (stop valve, ball valve, butterfly valve, RSV gate valve, wedge gate valve, check valve, diaphragm valve and others), By material type, by application, by product, by region, competition forecasts and opportunities, the 2015-2025″ report has been added to ResearchAndMarkets.com’s products.
Due to the widespread use of industrial valves in the oil, natural gas and power industries, the global industrial valve market in 2019 is approximately 65 billion U.S. dollars and is expected to exceed 80 billion U.S. dollars by 2025.
Other factors that are expected to drive demand for industrial valves in the next few years include the government’s increasing efforts to treat wastewater and provide clean water to citizens, the increase in the number of commercial construction projects, and the replacement of aging water pipes. In addition, it is expected that by 2025, increasing attention to the development of high-performance smart valves will flourish in the global industrial valve market.
According to applications, the industrial valve market is segmented into oil and gas, refineries, chemicals, water, wastewater, power generation, agriculture, and mining. In 2019, the oil and gas sector accounted for the largest market share because these industries need valves to control flow, protect equipment, and guide and guide the crude oil refining process. In addition, the increasing output of oil and natural gas fuels has also promoted the use of industrial valves.
In the type segment market, due to the characteristics of low fluid flow resistance and superior sealing ability, the global industrial valve market in 2019 is dominated by globe valves.
In terms of regions, the global industrial valve market is divided into North America, Europe, Asia Pacific, South America, and the Middle East and Africa. Among these regions, the Asia-Pacific region will dominate the global industrial valve market in 2019, with a market share of approximately 37%, and is expected to maintain its position during the forecast period.
This growth can be attributed to the growing industrial activity in countries in the Asia-Pacific region, such as the increasing number of oil and gas, chemical, water and many other manufacturing plants.
In addition, the increase in construction activities and the surge in chemical consumption are expected to have a positive impact on the industrial valve market in the Asia-Pacific region. In addition, the continuous construction of new nuclear power plants and the capacity expansion of oil refineries are also expected to boost the demand for industrial valves in the region.
ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com US Eastern Time Office Hours Call 1-917-300-0470 US/Canada Toll Free 1-800-526-8630 Greenwich Mean Time Office Hours +353-1 -416-8900
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