Industrial Valves Market Share, Size, Growth, Competitive Outlook and Industry Forecast 2022-2027

The growing number of oil and gas (O&G) exploration activities in offshore areas and the escalating demand for energy are driving the industrial valves market.

SHERIDAN, WY, USA, November 17, 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 a CAGR of 7.3% during 2022-2027.

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Industrial valves represent electromechanical devices that are used to regulate the flow and pressure of vapor, powder, liquid, gas, and slurry in a piping system. They comprise the trim, discs, body, seats, stem packing, end connectors, sealing rings, bonnet shell, union bolts, yoke and yoke nut, operators and actuators, etc. In addition to this, industrial valves assist in stopping the flow rate via the pipe whenever required, preventing flow return to the pressurized side, protecting equipment from overpressure hazards, etc. Presently, several types of industrial valves are commonly available in the market that are based on their designs, sizes, functions, operations, etc. As such, they find extensive applications in numerous sectors, including chemical, refinery, pharmaceuticals, water and wastewater treatment, food and beverage (F&B), power, oil and gas, etc.

Market Trends and Drivers:

The growing number of oil and gas (O&G) exploration activities in offshore areas and the escalating demand for energy are primarily driving the industrial valves market. Additionally, the development of nuclear power stations and petroleum refining plants, the increasing pipeline installations, and the inflating need for monitoring and controlling them from a centralized location are further bolstering the industrial valves market growth. Besides this, the widespread adoption of diagnostics in industrial valves that help in monitoring upstream and downstream pressure stem position, temperature, flow rate, etc., is also positively influencing the global market. Moreover, the introduction of smart control systems and the emerging trend of automation in industrial processes are acting as significant growth-inducing factors. Apart from this, the rising popularity of renewable energy sources for generating electricity is projected to fuel the industrial valves market in the coming years.

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.

Key Market Segmentation:

The report has segmented the global industrial valves market based on product type, functionality, material, size, end use industry and region.

Breakup by Product Type:

• Gate Valve
• Globe Valve
• Butterfly Valve
• Ball Valve
• Check Valve
• Plug Valve
• Others

Breakup by Functionality:

• On-Off / Isolation Valves
• Control Valves

Breakup by Material:

• Steel
• Cast Iron
• Alloy Based
• Others

Breakup by Size:

• 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

Breakup by Region:

• 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

This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

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.

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