Summary
Global Industrial Valves Market-Segmented By Type, Application and by Geography-Trends and Forecasts( 2017-2022).
Description
The global market for industrial valves is expected to grow from USD 60.41 billion in 2015 to USD 78.55 billion by 2020, at a CAGR of 5.36 %.
A valve is a mechanical device that helps in the regulation and control of the flow of fluids, including liquids, gases and slurries. Valves are a major component of the system that controls the flow of these substances. Valves find extensive application in all industries that deal with flowing fluids. The major demand for valves come from oil & gas sector, with power, water & wastewater management, chemicals, pharmaceuticals among others. Industrial valves are classified by mode of action as quarterturn valves, multi-turn valves, and automatic regulator and control valves. Based on types, industrial valves are classified as ball valve, butterfly valve, globe valve, gate valve, plug valve etc.
There is a rising demand for industrial valves from growing economies, where growing populations and rapid urbanization are propelling a growth in infrastructural projects. These countries, which include the likes of China, India and Brazil, are evidencing a growth in infrastructural projects, like power generation plants and desalination plants, all of which require fluid control equipment.
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Market Dynamics of the Global Industrial Valves Market: Drivers:
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Growth of industrial & infrastructural activities in developing economies Rising demand from the power industry Increase in demand for desalination activities
Restraints:
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Volatile oil & gas industry Economic slowdown in China Stagnant industrial growth in the developed countries
An economic slowdown in China has affected the demand from various industries, and industrial valves are no exception. The fall in oil and gas prices are also dealing a blow to the demand for industrial valves from the upstream petroleum industry. Nevertheless, even though the exploration and production sectors have taken a hit, the refineries seem to be enjoying a period of profits, especially as the low oil
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