Ottawa, February 2, 2021 (Global News Agency)-According to a new report from Precedence Research, the global industrial valve market in 2019 was USD 87.23 billion.
Industrial valves are widely used in the process industry for the adjustment, guidance and control of slurry, gas, steam, liquid, etc. Industrial valves are usually made of stainless steel, cast iron, carbon steel and other high-performance metal alloys in order to obtain effective flow control in many industries such as petroleum and electric power, water and wastewater, chemicals, food and beverages. In addition, the valve is mainly composed of a valve stem, a main body and a valve seat. They are mainly made of various materials including metal, rubber, polymer, etc., to avoid waste of liquid flowing through the valve. The main difference between valves is their operating mechanism. The most widely used valves in the industry are butterfly valves, globe valves, gate valves, diaphragm valves, ball valves, pinch valves, plug valves and check valves.
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In many developed countries including the United States, European Union countries and China, the food and beverage processing industry is a highly saturated industry. In addition, the increasing demand for food in developing countries such as India and Brazil has promoted the development of agriculture, which in turn promoted the growth of the food and beverage industry. This is expected to further promote the demand for industrial valves.
In addition, governments of various countries closely monitor water supply facilities to provide safe drinking water and sanitation facilities. In addition, the outbreak of the coronavirus in early 2020 has brought people a sense of insecurity. In this case, people pay more attention to clean water and sanitation, which drives the industry’s demand for industrial valves.
North America occupied the largest market share in the global industrial valve market in 2019. The region’s research and development (R&D) activities related to the implementation of actuators in automated valves are increasing, and the demand for safety applications is increasing. Some key factors driving the growth of the North American market. In the United States, industrial-level R&D has expanded the application of industrial valves in various industries including chemical, energy, and electric power. Control valves are widely used in the energy and power, oil and gas, and water and wastewater treatment industries to regulate the flow of media through the system, and to stop, start or throttle the flow, and to ensure efficient and safe process automation.
On the other hand, the Asia-Pacific region provided profitable growth opportunities during the analysis period. This is attributed to the increasing demand for water treatment plants in Asian countries such as India, China and Japan, which has boosted the demand for industrial valves in the region. In addition, the boom in chemical consumption is the other most prominent factor that has triggered the growth of industrial valves in the region.
Major industry players in the global industrial valve market participate in inorganic growth strategies to enhance their position in the global market and consolidate their foothold. For example, in August 2019, the Bonomi Group reached an agreement to acquire FRA.BO.SpA, an Italian-based manufacturer of stainless steel, copper, bronze and brass fittings for pipe applications. Similarly, in June 2019, Crane Company signed an agreement to acquire all the shares of Circor International Corporation, a US manufacturer of motion and flow control products. It also provides products such as actuators, valves, pumps and many other industrial applications. The acquisition helped Crane Co. improve its business in the United States.
Some of the major players operating in the market are Avcon Controls Private Limited, AVK Holding A/S, Crane Co., Metso Corporation, Schlumberger Limited, Flowserve Corporation, Emerson Electric Co., IMI plc, Forbes Marshall, and The Weir Group plc. .
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Post time: Jun-28-2021
