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Ongoing oil and gas exploration operations in offshore areas have intensified the demand for industrial valves to control the flow rate of liquidized materials.
SHERIDAN, WY, USA, October 13, 2022 /EINPresswire.com/ -- The latest report published by IMARC Group, titled "Industrial Valves Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," offers a comprehensive analysis of the industry, which comprises insights on the market share. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global industrial valves market size reached US$ 64.04 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 97.19 Billion by 2027, exhibiting at a CAGR of 7.3% during 2022-2027.
Request a Free PDF Sample of the Report: https://www.imarcgroup.com/industrial-valves-market/requestsample
Industrial valves are mechanical devices that are mainly composed through employing carbon steel, cast iron, stainless steel, and other high-functioning alloys to offer efficient flow control. They further comprise a main body, a stem, and a seat that are manufactured from polymers, rubber, and metals. Industrial valves prevent leakages, block the reverse flow of fluids, mitigate the blending of harmful chemicals, and help avoid the wastage of liquid flowing through them. Consequently, they are used to regulate and control slurries, vapors, gases, and liquids. Currently, they are available in ball, butterfly, gate, globe, and diaphragm valve types.
The rapid industrialization and the growing focus on positioning and automation of industrial valves to offer more energy efficiency at reduced power consumption are primarily driving the industrial valves market growth. Furthermore, ongoing oil and gas (O&G) exploration operations in offshore areas have intensified the demand for industrial valves to control the flow rate of liquidized materials. Additionally, the considerable expansion in the nuclear power plants and petroleum refining facilities and the rising need for renewable energy sources to generate power are propelling market growth. Moreover, the extensive utilization of steel valves in sewage pumping and wastewater treatment plants, owing to their multiple benefits, including durability and higher pressure ratings, are favoring the market growth. Besides this, the large-scale integration of artificial intelligence (AI) to reduce unplanned downtime and the advent of sensor-equipped valves to monitor upstream and downstream pressure stem position, temperature, and flow rate are supporting the market growth.
Industrial Valves Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the industrial valves market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
• AVK Holding A/S • Cameron International Corporation (Schlumberger) • The Crane Company • Emerson Electric Co. • Flowserve Corporation • Forbes Marshall • IMI Plc • Kitz Corporation • Neway Valves (Suzhou) Co. Ltd. • Samson AG • Velan Inc.
The report has segmented the global industrial valves market based on product type, functionality, material, size, end use industry and region.
• Gate Valve • Globe Valve • Butterfly Valve • Ball Valve • Check Valve • Plug Valve • Others
• On-Off / Isolation Valves • Control Valves
• Steel • Cast Iron • Alloy Based • Others
• Up To 1” • 1”-6” • 7”-25” • 26”-50” • 51” and Above
Breakup by End Use Industry:
• Oil and Gas • Power • Pharmaceutical • Water and Wastewater Treatment • Chemical • Food and Beverage • Others
• North America • Asia Pacific • Europe • Latin America • Middle East and Africa
Ask Analyst for Customization and Explore Full Report With TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=2790&flag=C
Key Highlights of the Report:
• Market Performance (2016-2021) • Market Outlook (2022-2027) • Market Trends • Market Drivers and Success Factors • Impact of COVID-19 • Value Chain Analysis • Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
Elena Anderson IMARC Services Private Limited +1 6317911145 email us here
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