Market Research global industrial valves market analysis 2018

The global industrial valves market is expected to register a CAGR of around 4% during 2018 to
2023 (the forecast period). Asia-Pacific accounted for the largest market in 2017. Asia-Pacific is
also expected to register the fastest growth during the forecast period.
Growth of Industrial and Infrastructural Activities in Developing Economies
Growth in an economy largely depends on the extent of industrialization and the infrastructural
growth of that economy. In this context, industrialization requires the transportation of
necessities within and out of an industry, with safety and productivity as top priorities. Industrial
valves provide the most viable option for this purpose. In most end-user industries, there is a
growing drive toward plant automation, in a bid to enhance productivity and reduce downtime.
The trend expects to provide significant impetus to the demand for valves, especially for quarter-
turn valve products that are easier to automate. The urbanization of developing economies will
provide a major stimulus to the industrial and infrastructural projects. This will, in turn, prove to
be beneficial for the global industrial valves market.
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Ball Valves to Contribute Significantly to the Market Growth
Ball valves have a quarter-turn rotational motion that uses a ball shaped disk to allow/ stop the
flow of fluids. Due to their restricted motion, they offer excellent shut off capabilities. Due to its
simple operation, it minimizes the valve operation time as well as the risk of fluid leakage.
Comparatively, ball valves are durable, well-performing, leak-proof, and reliable even after long
periods of disuse. Due to these characteristics, ball valves are often preferred for shut off
application over gates, and globe valves in applications, like batch processes. Energy, cement,
iron & steel, and oil refineries are some of the major users of the ball valves. The market for ball
valves is expected to grow at a faster rate in developing economies, like China and India, in
comparison to established markets of the United States, Germany, and Japan, mainly because of
the conversion of unorganized market in developing economies to organized market.
Asia-Pacific to Dominate the Market
The Asia-Pacific region presents a mix of some of the fastest developing, as well as the most
developed economies, in the world today. The demand for valves in this region is driven by
growing population, increasing urbanization, and rapid industrialization. There is a growth in the
need for basic facilities, like power and clean water, as the population increases. This is leading
to a development of desalination plants and new power generation facilities. Rapid urbanization
and industrialization have also led to a rise in the demand for petroleum products in this region.
This is prompting countries to improve their upstream and downstream oil & gas activities, like
production and refining. This has, in turn, increased the demand for valves from this region.
Major Players: Alfa Laval, Crane Co., AVK Holding A/S, Emerson Electric Co., Flowserve
Corporation, KITZ Corporation, ITT Inc., and Schlumberger Limited, amongst others.
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https://www.marketinsightsreports.com/reports/0417446029/global-industrial-valves-
market-segmented-by-type-by-product-by-application-and-geography-growth-trends-and-
forecast-2018-2023