Bangalore, India, August 24, 2020 /PRNewswire/-The main factors that are expected to increase the size of the industrial valve market include: due to the outbreak of the COVID-19 pandemic, the growing demand for pharmaceutical valves, the development of smart cities, and the maintenance The demand for networking and monitoring of industrial equipment continues to grow, as well as the need to build new nuclear power plants and rebuild existing ones.
By 2027, the global industrial valve market is expected to reach 107.356.7 billion U.S. dollars, compared with 86.202.7 billion U.S. dollars in 2019, with a compound annual growth rate of 3.5% from 2020 to 2027.
Some of the valves that are widely used in the industry are 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 natural gas is one of the important industries using valves. The oil and gas sector has been severely affected by the COVID-19 pandemic, and oil prices have dropped unprecedentedly. Large oil companies run out of storage space for refined oil products, and demand is declining.
The water and wastewater treatment and energy and power industries are also facing the problem of declining demand for industrial valves. Due to the closure of international borders, non-business distribution networks and various government regulations, foreign trade has been restricted by taking preventive measures to protect public health and safety. However, due to the increasing desire for healthier and safer lifestyles, people are expected to pay more and more attention to hygiene and hygiene.
The growth in the adoption rate of diagnostic technology used to track process variables such as upstream and downstream valve stem pressure positions, temperature and flow rates in smart industrial valves 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 equipment, and are expected to become high-impact rendering engines.
It is expected that the increase in pipeline installation and the development of unconventional oil and gas applications in the downstream field will bring considerable growth in the scale of the industrial valve market. In addition, the increasing degree of automation in process manufacturing has promoted the growing demand for automatic control valves.
The outbreak of the coronavirus has made people more concerned about clean water and sanitation. Sewage and wastewater treatment is one of the basic public utilities, so these factories can operate for all public services. Therefore, investment in the development of water treatment plants is expected to promote the development 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 grow, which in turn is expected to increase the market size of industrial valves. Industrial valves play an important role in the manufacture of different types of medical equipment, and many major players in the industry have seized the opportunity to respond to the deadly coronavirus pandemic.
Emotional use of coal and the shutdown of traditional coal-fired power plants are some of the 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 conventional power plants may also hinder the development of the industry.
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On-off valves/isolation valves will occupy the largest industrial valve market share in 2025 due to their ability to meet the strict closing standards of different industries. On-off valve is one of the most important elements of modern society. On-off valves/isolation valves are used in almost all manufacturing processes and every energy production and supply network.
In 2019, industrial steel valves accounted for the largest market share. The growing demand for high-quality industrial valves that mitigate the threat of pollution in the food and beverage, chemical, pharmaceutical, metal, and mining industries is currently driving the demand for industrial steel valves.
Based on this region, North America is expected to occupy the largest industrial valve market share. North America is a major industrial valve market with some of the largest multinational companies in the world, including Emerson (USA), Cameron Schlumberger (USA), Flowserve Corporation (USA), Crane Company (USA). 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 automated valves and the growing demand for safety applications. The increasing demand for industrial valves in North America has also increased the demand for imported industrial valves from other countries, thus driving the growth of the market.
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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.
The growing demand in the industrial sectors such as oil and gas, water and wastewater treatment, and energy and power is 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 have gained favor in the market.
View the full report: https://reports.valuates.com/market-reports/QYRE-Othe-3Q299/industrial-valves-and-actuators
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 grow from USD 366.6 million in 2020 to USD 374.1 million
The increase in demand from the radioactive waste management industry is one of the main factors that will drive the growth of the diaphragm valve market during the forecast period. Due to rapid industrialization and population growth, the demand for electricity is increasing. The increase in electricity demand will increase the construction of nuclear power plants (nuclear power plants are considered the second highest source of power generation). For such facilities, diaphragm valves are used in many applications for the controlled disposal of nuclear waste.
Leaders in the oil and gas industry have close ties with needle valve manufacturers and suppliers. Since the entire device must be kept at a low temperature to convert gas into liquid, companies require valve suppliers and manufacturers to produce parts that are strong in 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.
The entire midstream part of processing and transporting oil and natural gas in the deep sea uses valve fixing equipment while adjusting the flow rate.
The downstream part supplies raw materials to the petrochemical industry with the help of high-pressure valve design.
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
It is estimated that by 2022, the control valve market will reach USD 13,674 million, 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: Dec-31-2020
