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ALBANY, New York, Aug. 21, 2018 (GLOBE NEWSWIRE) -- The global valves market is witnessing highly competitive landscape due the presence of various medium and large number of suppliers present in the market, states the Transparency Market Research (TMR) in their recent report. The players present in the market are also getting involved into various strategic alliance and collaboration. The players are also focusing on introducing advance valves that are effect in nature and are expected to provide increased pressure control capacities. Larger players are acquiring smaller ones that will help them in increase their regional proficiency. In the global market there are many players involved in valves manufacturing but to name some of the players in the valves market are Schlumberger Limited, Industrial Scientific AVK Holding A/S, Rotork Plc, Goodwin International Ltd, Flowserve Corporation, KITZ Corporation, and General Electric Company.
According to the TMR analysis, the global valves market is projected to reach a value of US$ 117.86 bn by the end of forecast period in 2026, which was US$ 60.9 bn in 2016. The market is expected to rise at 7.0% of CAGR during the forecast tenure from 2018 to 2026. Moreover, the global valves market is expected to grow depending upon the various macroeconomics and industry specific factors. As per the regional analysis, North America is leading the market by holding the highest number of values as compared to the other regions. Asia Pacific has also contributed significantly and is expected to rise at a CAGR of 8.5% during the forecast period.
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Increasing Automation Process in Various Industries to Boost Market
The demand for valves is growing across the globe mainly because of rising demand for pipeline infrastructure. The growing need for pipelines is because of the rising production of natural gas from the shale formations, which has grown the need for pipelines and further grown the valves market. Furthermore, companies are now focusing more on automating the manufacturing plants. As the industries working in oil and gas or pulp and paper are complicated, that are now being controlled through robots and with other advanced technologies. Thus, valves play a vital role in these industries due to increased adoption of automation. They are used in complex piping systems, process pressure control, and fluctuating temperature pipes. Chemicals, automobiles, and water and waste water treatment are some of the other industries in which valves are used on a high rate. Moreover, increasing number of water treatment plants used across the globe have largely adopted various valves used in water waste treatment sector. Thus, increasing industrial use will boost the demand for valves market globally.
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Strict Government Regulations to Hamper Growth of Valves Market
There are various favorable factor supporting the growth of the valves market, but there are some restrains as well, that may hamper the growth of the market. Restrict government policies and regulation with price fluctuation created by various players are the major factors hindering the growth of the valves market on the global platform. In addition to that, growing participation of cross industry players has also escalated the competition for the core valve providers. In this case, filtration and pump players have also started offering valves, thus creating a higher competition for the core valves players in the market. To resolve these situations, core valve players can introduce specialized products, which will create higher margins and will lead to product differentiation thus minimizing competition.
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The information presented in this review is based on a TMR report, titled “Valves Market (Product Type - Pressure Reducing Valves, Safety/Relief Valves, Control Valves, Globe Valves, Plug Valves, Gate Valves, Ball Valves, Butterfly Valves, Diaphragm Valves; Industry - Oil and gas (LNG, petroleum - Upstream, Midstream, Downstream), Power (Fossil - Coal and Oil, Natural Gas), Nuclear Power, Chemicals, Marine, Construction, Pulp and paper, Mining, Water and Wastewater Treatment) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2026.”
The Global Valves market has been segmented as below:
Global Valves Market: By Product Type
Global Valves Market: By Industry
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