Valves Market : Industry Outlook, Growth Prospects and Key Opportunities

The global valves market is treading growth with industrial expansion and automation of industrial units in developing economies. Valves are used to control the flow of fluids and gases in number of industries. They control the flow of fluids and gases to prevent them escaping or leaking from pipes or pipeline systems.

The increasing need for workplace safety is expected to fuel the demand for valves. This is because the flow of flammable gases and fluids produced in industrial processes can be controlled using valves.

The global valves market is expected to rise at a CAGR of 6.8% between 2017 and 2025. This will result in the market to reach a valuation of US$108,950.3 mn by 2025 increasing from US$60,906.3 mn in 2016.

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The global valves market has been studied on the basis of product type, industry, and geography in this report. The product type segments into which the valves market is divided are pressure reducing valves, control valves, plug valves, ball valves, diaphragm valves, safety/relief valves, globe valves, gate valves, butterfly valves, and other valves.

In 2016, ball valves held the leading share thus contributing the leading revenue to the overall valves market. However, butterfly valves is expected to display the leading CAGR of 8.3% from 2017 to 2025.

On the basis of industry, the global valves market is segmented into oil and gas, power, chemicals, marine, construction, pulp and paper, waste and wastewater treatment, mining, and others.

Oil and gas industry is expected to expand at a CAGR of 6.68% for the forecast period between 2017 and 2025.

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The global valves market has been segmented into the regional segments of North America, Asia Pacific, Europe, the Middle East and Africa, and South America. The regional market of North America, among these, is primarily driven by increasing demand for pipeline infrastructure.

The valves market in Europe receives ample growth opportunities from the mining industry. Product innovation and design improvements in existing products is presenting favorable growth opportunities to the valves market in Europe.

Asia Pacific valves market is mainly driven by the rising demand for valves in manufacturing sector.

Some of the key players operating in the global valves market include AVK Holding, Cameron- Schlumberger, Emerson, Forbes Marshall, IMI Plc., Samson AG, Rotork Plc, General Electric Company, Flowserve Corporation, Goodwin International Ltd, and KITZ Corporation.

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