November 27, 2019
According to the latest study titled ‘Global Industrial Valves Market - By Valve Type (Ball, Butterfly, Gate, Globe, Check, Plug, Safety, Diaphragm, Others), By Technology (Manual Valve, Solenoid Valve, Control valve), By Size (Up to 1 inch, 1.1- 6 inches, 6.1- 25 inches, 25.1- 50 inches, Above 50 inches), By End User Industry, By Region, By Country: Opportunities and Forecast (2018-2023)’ available at MarketStudyReport.com, the global industrial valves market is expected to grow substantially during the period of 2018-2023.
Industrial valves are technical fittings used to direct or control the flow of a fluid by opening, closing, or partially obstructing various passageways. Development of various industries, along with extensive use of industrial valves for process control application across different sectors like oil & gas, power, food & beverages, chemicals, textile, metal, and pulp & paper are the factors driving the industrial valves market growth.
Moreover, rising global demand for energy and escalating manufacturing sector, along with booming demand from building & construction spaces will continue to augment the industrial valves industry trends. The study encompasses details about revenue shares for each segment, alongside the expansion strategies adopted by manufacturers. Thorough insight regarding challenges, drivers, trends, and restraints impacting the market growth is also given.
Based on type, industrial valves market is segmented into butterfly, ball, globe, gate, plug, check, diaphragm, safety, and others. While based on technology, the industry is divided into manual, solenoid, and control valves. Speaking of size, industrial valves market is split into sizes such as up to 1 inch, 1.1- 6 inches, 6.1- 25 inches, 25.1- 50 inches, above 50 inches.
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Considering the geographical landscape, the global industrial valves market is fragmented into regions including North America, Europe, Asia Pacific, Latin America, Middle East & Africa, and Commonwealth of Independent States. As per the report, APAC industrial valves market is presumed to grow substantially in the upcoming years owing to increasing industrialization in countries such as Japan, China, India, Indonesia South Korea, and Thailand.
The key players of industrial valves market are Schlumberger, Flowserve Corporation, Emerson Electric Corp., Baker Hughes, IMI Plc., Crane Corporation, VELAN, METSO, Forbes Marshall, and Spirax Sarco.
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