DUBLIN-(Business Wire)-ResearchAndMarkets.com’s products have added the “Industrial Valve Market by Material Type, Valve Type and Application: Global Opportunity Analysis and Industry Forecast from 2020 to 2027″ report.
The global industrial valve market is expected to grow 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.
Almost every process industry uses industrial valves. They are mainly used to regulate, guide and control liquids, slurries, gases, vapors and other liquids flowing through the pipeline system. They are high-performance equipment, manufactured using cast iron, carbon steel, stainless steel, various metal alloys, bronze and many other high-performance materials. The valve body is mainly composed of a valve body, a valve seat and a valve stem. The valve body can be made with or without a single material. In addition, industrial valves are mainly designed and manufactured according to customer requirements, and can also be provided in the form of pre-designed valves according to industry requirements. In addition, globe valves, butterfly valves, ball valves, gate valves, plug valves, pinch valves and check valves are widely used in oil and gas, food and beverages, water and wastewater, chemical and other important processing industries.
In recent years, the development of valve automation and control technology has made important contributions to promoting the growth of the industrial valve market. Automatic valves allow remote processing, which is very beneficial in dangerous and remote environments in the oil and gas industry, chemical industry, and power plants. In addition, standard valves can be easily upgraded using automatic actuator systems or automatic control systems, thereby driving the growth of the industrial valve market. In addition, increased investment in oil and gas storage and refining infrastructure (mainly in North America) has driven the demand for industrial valves. North American countries (such as the United States and Canada) are the main importers of industrial valves from Asian and European countries.
Therefore, the development of the North American oil and gas industry has driven the growth of the global industrial valve market. In addition, the demand for industrial valves in the food and beverage industry has greatly increased, mainly from developing countries in the Asia-Pacific region and Latin America. With the rapid development of agriculture and increased demand for processed foods, the food and beverage processing industries in countries such as India and Brazil have shown high growth. In turn, this places high demands on industrial valves. This led to the development of the industrial valve industry.
However, the saturation of industrial growth in major developed countries such as Germany, the United States, and the United Kingdom may seriously affect the growth trend of industrial valves. In the aforementioned countries, the demand for new industrial valves has grown very slowly, mainly due to the developed industrial infrastructure. This is likely to inhibit the growth of the industrial valve market. In addition, trade tensions between China and the United States have led to new tariffs on a variety of metals including stainless steel and aluminum, which are mainly used to make industrial valves. In turn, this has led to a surge in production costs and disruption of the supply chain of the global industrial valve industry, which is likely to limit the growth of the global industrial valve market.
On the contrary, technological advancements in industrial valves, such as the implementation of automation and control technology, may create substantial growth opportunities for the global industrial valve market.
ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com EST office hours please call 1-917-300-0470 US/Canada toll free call 1-800-526-8630 GMT office hours please call +353-1- 416-8900
ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com EST office hours please call 1-917-300-0470 US/Canada toll free call 1-800-526-8630 GMT office hours please call +353-1- 416-8900
Post time: Mar-04-2021
