Industrial Valves Market Overview
The global industrial valve market is expected to grow at a CAGR of 4-5 percent reaching $101 billion by 2020. The use of smart valves is being adopted in regions such as North America and Europe because of their ability to control emissions to comply with environmental regulations. In emerging regions such as LATAM, the Middle East, Africa, and APAC, there's a growth in the utilization of industrial valves due to increased investment in infrastructure. The global trends for industrial valves include the use of robotics in handling complex and repetitive tasks, 3D printed valves to reduce labor and raw material costs, and utilization of digital devices and sensors to predict equipment breakdown.
Digital technologies are playing an important role in improving performance through new applications developed for improving productivity and efficiency in the field of industrial valves. The industrial valve market is highly fragmented in nature, and the fragmentation can be observed in generic valves.
Material is the major cost driver of the valves, and it accounts for approximately 50–53 percent of the total cost in the industrial valve market. The application of the valve determines which material should be used as different materials have their own unique properties.
The pricing of the valve is dependent upon the criticality of the application, such as fluid that passes through it, pressure rating, degree of corrosiveness, need for automation, etc.
The utilization of technology in industrial valves is capital intensive; therefore, most of the manufacturers are using old technology to produce gas-based Midrex, Hyl processes, etc. The report provides a detailed industry analysis, including Porter's five forces analysis, industry drivers & constraints, mergers & acquisitions, and revenue breakup by valves type and end-use industry. It also furnishes information on the prevalent cost structures and presents a price forecast with an exhaustive list of all the suppliers present in the industry.
Beroe gathers intelligence through primary sources that include industry experts, researchers, and consultants, as well as current suppliers, producers and distributors. Secondary sources can include business journals, newsletters, magazines, market research data, company sources, and industry associations. Following data collation, analysis, and strategic review, the Final Research Report is published on Beroe LiVE.
Industrial Valves Market Trends
Category Intelligence on Industrial Valves covers the following
- Information relating to market, supply, cost, and pricing analysis
- Hard to find data on cost and TCO models, supplier details, and performance benchmarks
- Macroeconomic and regional trends impacting cost, supply, and other market dynamics
- Category-specific negotiation and sourcing advice
Industry Outlook & Drivers
Global Industrial Valve Outlook
- The global industrial valve market is estimated at approximately $83.5 billion in 2016, 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
- North America nearly had a flat growth in 2016, decreased oil production in the US and Canada, which is expected to revive by 2018, and low prospects of new business in the power sector will affect the market growth, whereas process efficiency taking the center stage in industries will propel the growth
- The key drivers of the global industrial valves market: Increasing requirements for water, waste water and power plants in the emerging countries valves replacement and transition to smart valve in the developed countries.
- The Main industrial valves cost components: direct material constitutes 50–53 percent of total cost.
- The valve industry trends show that the main Engagement models used are preferred supplier and multiple supplier models. The main pricing models used are cost plus model and fixed price model.
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.