Industrial valves are used across multiple industries to regulate the flow and pressure of liquid,gas etc. within a industrial system
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Industrial Valves market frequently asked questions
According to the industry analysis report by Beroe, the global industrial valves market size is expected to reach $101 billion growing at a CAGR of 4-5 percent from its earlier value of $83.5 billion in 2016.
The valve industry trends show that the main engagement models used in the industry are ' preferred suppliers and multiple suppliers. Mainly, the cost-plus model and fixed price model are used.
The key market driver in emerging countries is the increasing requirement for water, wastewater, and power plants, whereas, in developed countries, valve replacement and transition to smart valves are driving the market growth.
The markets in North America and Europe are increasingly adopting smart valve usage because they can control fugitive emissions, which is a crucial aspect of environmental regulations compliance. Besides, it also helps to ensure better health of the buyer's employees.
From Beroe's industrial valves market outlook report, the increased investment in infrastructure, such as power plants, water supply lines, sewage water treatment facilities, etc. will boost the growth of industrial valves in developing regions like LATAM, Middle East, Africa, and APAC.
According to Beroe's industrial valves market forecast and analysis, some of the constraints that the market faces comes from patent violation and copying the original technology by local players, unorganized labor market, and drop-in requirement from petrochemical industries.
Industrial Valves market report transcript
Global Industrial Valve Outlook
- The global industrial valve market was valued at approximately $96 billion in 2019, and it is expected to grow at a CAGR of 4–5 percent to $101 billion by 2020
- Increase in oil price has created avenues for the growth in the oil producing nations in the Middle East, along with growing demand for valves in the petrochemical industries.
Global Industrial Valves: Market Maturity
Smart valves are increasingly being adopted in North America and Europe because of their ability to control fugitive emissions which are required for compliance to environmental regulations, and also to ensure better health of the buyer's employees.
Global Industrial Valves Trends
Developing regions such as LATAM, Middle East, Africa and APAC will boost the growth of industrial valves globally due to increased investment in infrastructure (power plants, water supply lines, sewage water treatment facilities, etc.).
Global Industrial Valves: Drivers and Constraints
- Emerging countries provide a low-cost manufacturing base
- These countries are also the potential demand markets due to the need for considerable investments in key areas like water, power, municipal waste water treatment, pipelines, etc
- Immense rise in demand for power in developing regions has given rise to the need for power plant investments, leading to an increase in demand for industrial valves
- Replacement of manual valves with smart valves drives the market in the developed regions
- Process-oriented manufacturing units strive to continuously increase their operating efficiencies, resulting in increase in demand for valves
Stringent environmental and safety regulations
- Environmental, health and safety regulations such as Volatile Organic Compound (VOC) limitations require the end-user industries to upgrade to new and better valves
Duplication of technology
- Patent violations and copies of the original by the local players would hamper the growth of the valves market due to the copies being relatively cheaper
- The labour market in emerging countries are mostly unorganised, and there are increasing occurrences of shutdowns leading to loss of productivity
Drop in requirement from petrochemical industries
- The drop in oil prices has resulted in deteriorating margins, thus requiring petrochemical industries to reconsider capital spend, which led to a decrease in valve requirements from this sector
Why You Should Buy This Report
- It details the global industrial valves market size, maturity, valve industry trends, drivers and constraints, etc.
- It provides the regional market outlook on North America, Asia, Middle East, Europe, Africa and LATAM regions.
- The report does Porter’s five force analysis of emerging and developed industrial valves market.
- It gives insight into supplier trends and does a SWOT analysis of major players like Flowserve, KITZ, Metso, etc.
- It breaks down the cost structure and gives the pricing analysis and price forecast for industrial valves.
- The report gives information about the best sourcing and pricing models for the industrial valve market.