Dublin, July 13, 2021 (Global News Agency)-”Industrial Valves-Global Market Trajectory and Analysis” report has been added to ResearchAndMarkets.com’s products.
During the COVID-19 crisis, the global industrial valve market in 2020 is estimated to be USD 73.2 billion, and is expected to reach a revised USD 92.3 billion by 2026, growing at a compound annual growth rate of 3.9% during the analysis period.
Ball valve is one of the market segments analyzed in the report, and is expected to grow at a compound annual growth rate of 4.1% by the end of the analysis period, reaching 30.6 billion US dollars. After a thorough analysis of the business impact of the pandemic and the economic crisis it triggered, the growth of the butterfly valve division was re-adjusted to a revised compound annual growth rate of 3.7% over the next 7 years. This segment currently accounts for 18.8% of the global industrial valve market.
Even for applications where different gases flow through a single pipe, check valves are ideal. There are different basic designs to choose from, including swing check valves, lift or piston check valves, double flap check valves and air check valves. In the field of global check valves, the United States, Canada, Japan, China and Europe will promote the expected compound annual growth rate of 3.3% in this field.
By 2020, the total market size of these regional markets will reach 7.7 billion U.S. dollars, and by the end of the analysis period, the total market size is expected to reach 9.6 billion U.S. dollars. China will remain one of the fastest growing countries in this regional market cluster. Led by countries such as Australia, India, and South Korea, the Asia-Pacific market is expected to reach USD 1.6 billion by 2026, while Latin America will grow at a compound annual growth rate of 3.7% throughout the analysis period.
The U.S. market is estimated to be USD 20.3 billion in 2021, while China is expected to reach USD 18.2 billion by 2026
By 2021, the US industrial valve market is estimated to reach US$20.3 billion. The country currently accounts for 27.03% of the global market share. China is the second largest economy in the world, and the market size is expected to reach 18.2 billion US dollars by 2026, with a compound annual growth rate of 6.4% throughout the analysis period. Other notable geographic markets include Japan and Canada, which are expected to grow by 2.3% and 3.1%, respectively, during the analysis period.
In Europe, Germany is expected to grow at a compound annual growth rate of approximately 2.9%, while other European markets (as defined in the study) will reach $19.4 billion by the end of the analysis period. Driven by innovation in the past fifteen years, in the long run, the valve industry is expected to benefit from the growing demand and expansion of clean water, energy, food and power industries.
Several long-term factors driving growth together include government regulations related to emissions control and the growing demand for optimizing resources such as water and electricity. The installation of scrubber systems and catalytic systems in power plants has and will continue to increase the demand for valves.
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Post time: Sep-13-2021
