The global industrial valves market is expected to cross a US$ 79.4 billion valuation between 2020 and 2030. The coronavirus outbreak is anticipated to reduce the demand for industrial valves as several end user industries have been forced to limit or suspend operations to remain in compliance with lockdown regulations. On the other hand, applications in essential sectors such as pharmaceuticals and food production will help in partially mitigating losses.
“Rising interest from governments towards bolstering power plant capacities and water treatment capabilities are key factors that are expected to boost the demand for industrial valves in urban settings for the foreseeable future,” says the FACT.MR study.
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Industrial Valves Market- Key Takeaways
- Butterfly valves are gaining traction in terms of revenue generation, driven by growth in oil & gas upgrade and exploration applications.
- Water and waste water applications of industrial valves are reflecting high growth owing to strong demand from municipal bodies in expanding urban areas.
- Asia Pacific is a fast-growing industrial valves market aided by massive power, construction, and petroleum sector applications.
Industrial Valves Market- Driving Factors
- Sustained investments into industrial automation coupled with development of intelligent valve systems drive market growth.
- Growth of oil & gas exploration and pipeline installations are playing major roles in revenue generation.
Industrial Valves Market- Key Restraints
- Strict regulations associated with power plant applications are an obstacle for industrial valve market players.
- Fluctuations in the prices of raw materials required to produce industrial valve components hurts market growth.
COVID-19 Impact on Industrial valve Market
Governments around the world have imposed strict lockdown regulations to curb the spread of the coronavirus outbreak. Most non-life sustaining businesses have been pushed to stop operations including a wide range of commercial industries, which will hurt market prospects in the short term. Significant numbers of workers are working from home to process orders and maintaining inventories to minimize losses during the crisis period.
Explore the global Industrial valve Market with 188 figures, 99 data tables, along with the table of contents of the report. You can also find detailed segmentation on https://www.factmr.com/connectus/sample?flag=RM&rep_id=4545
Alfa Laval Corporate, Emerson Electric, KSB SE & Co., KGaA, KITZ Corp., Technip FMC plc, Schlumberger Ltd., Weir Group plc, Flowserve Corp., and Watts Water Technologies are some prominent industrial valves market players.
Leading participants in the industrial valves market are increasingly investing in strategic acquisitions, aimed towards widening product portfolios, bolstering supply chains and production capacities.
For example, Alfa Laval has announced its intentions to acquire Finland-based Neles for US$ 2 billion. Similarly, Tene Fund is set to buy into the majority stake of industrial valves manufacturer Habonim for more than US$ 28 million. Further, Curtiss-Wright Corp. has announced the acquisition of Dyna-Flo Control Valve Services Ltd. for US$ 62 million.
About the Report
This study offers readers a comprehensive market forecast of the industrial valves market. Global, regional and country-level analysis of the latest industry trends impacting the industrial valves market is covered in this FACT.MR study. The report offers insights on the industrial valves market on the basis of valve type (check valve, gate, globe, ball, plug, butterfly, safety relief, and others), valve material (cast steel, carbon steel, stainless steel, bronze, and others) function (manual and automatic), and end use (oil & gas, chemical, water & wastewater treatment, power plants, paper & pulp, and others), across seven regions (North America, Latin America, Eastern Europe, Western Europe, Japan, Asia Pacific excluding Japan, and MEA).