REPORT DESCRIPTION
Industrial valves are devices that control the flow and pressure of liquids and gases within a system . Valves are used to control the flow of liquids and gases in the piping systems and it should be checked consistently to avoid any risks such as leakage and corrosion . On the other hand , valves used in industries can be operated manually or automatically .
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Growth of industrial valve market is driven by increasing demand in industries such as oil and gas , wastewater and power among others . The government of developing countries such as Brazil , India , and China among others is investing heavily in pipeline infrastructure development mainly in oil and gas sector , which is expected to drive the installation of industrial valves over the forecasted period . This result in higher demand of valves used in valve actuators namely , electrically , hydraulically and pneumatically among others in different industry verticals . Moreover , continuous generation of power via existing and old power plant is also driving the demand for industrial valves market in power sector .
Some of the major restraints for industrial valves market are price war among vendors and strict government regulations and policies in the market . The participation of cross-industry vendors in the industrial valve market is also escalating the competition among valve vendors . For instance , pump and filtration vendors are offering valves along with the core valve vendors . However , the companies would have to develop specialized products in order to bring about product differentiation and produce higher margin valves which will be less vulnerable to competition .
The main types of industrial valves includes are ball , globe , gate , and butterfly valves among others Ball valves are used in rotational motion to start , stop or throttling the flow of fluids in the system . The industrial valves market can be further segmented by end use industries such as oil and gas , chemical and power among others . The growth in revenues of the industrial valve market is observed with multiple factors such as increased sale of industrial valves in building new infrastructure development and utilities globally . In addition , repairs and renovation in the existing infrastructure also drives the growth of industrial valve market .
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