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Industrial Valves - Global Market Trajectory & Analytics

  • ID: 338760
  • Report
  • September 2020
  • Region: Global
  • 973 Pages
  • Global Industry Analysts, Inc
The global market for Industrial Valves is forecast to reach US$107. 3 billion by 2025, driven by steady demand from petrochemical, power generation, and water & wastewater industries; new product development replacing traditional products; and major impetus provided by the developing economies. Industrial valves are ubiquitous and indispensable and play a key role in ensuring smooth industrial production which is worth over a trillion dollars worldwide. Valves are electro-mechanical devices that regulate liquid or gas flow through pipes, tubes and equipment containers/chambers. All processing plants, refineries, petrochemical plants, chemical plants and power generation facilities, have tens and even hundreds of control valves to manage media flow and eliminate hazardous fluctuations in pressures. A malfunctioning valve can result in explosive blow-out of toxic flammable gases triggering fire accidents; breakdown of industrial machinery due to either uncontrolled flow of media or blocked flow; and dangerous co-mingling of gases in dual gas production scenarios. Most commonly utilized valves include aerosol valves; air logic valves; balancing valves; ball valves; blind valves; butterfly valves; cartridge valves; casing valves; check valves; Christmas tree valves; cock valves etc. Stringent emission control regulations are driving replacement demand as companies seek to prevent the financial burden caused by leaks and fugitive emissions through valves. The risk remains especially high in the oil and gas end-use sector, where valve repairs and valve failure can cost companies thousands of dollars in losses each day. Ongoing valve maintenance in the recovering oil and gas sector is therefore poised to push up replacement demand in the market.

The market also stands to benefit from growing R&D and innovations in valve control mechanisms; development of reliable and durable valves; and development of new valve designs that enhances integrity and overthrows drawbacks associated with traditional standard valve designs. Other interesting trends in the market include growing value of custom valve designs tailored to meet the unique requirements of specific end-use applications; growing research and development activity around innovative changes in fundamental valve designs to overcome known drawbacks of traditional valves in process industries; capacity expansions in petroleum refining plants; reviving interest in nuclear power and the ensuingdemand for high performance nuclear valves; increased focus on plant automation and the ensuing demand for quarter-turn valves. Product development efforts are focused squarely on eliminating dead band which is associated with process variability and caused by flaws in control valve assemblies. Butterfly Valves represent a major market segment. These valves have a circular plate or disc attached to a transverse spindle. The disc blocks flow of media when valve is closed. This unique design enables the valve to effectively control media flow during incremental valve opening. Butterfly valves feature a compact design and are lightweight. Gas and water are the main applications of butterfly valves. They are considered ideal especially in such applications where isolating or interrupting media flow is essential. The valves are also considered highly suitable for pipes with larger diameters and for cryogenics, vacuum services and slurries. Asia-Pacific including China is a major market led by rapid industrialization and a parallel increase in industrial and manufacturing activity; growing investments in plant and production equipment upgrade and replacements; and healthy CAPEX spends on automation and the resulting demand for smart valves.

Competitors identified in this market include, among others:
  • Anvil International
  • Barksdale, Inc.
  • CRANE ChemPharma & Energy
  • Crane Co.,
  • Crane Nuclear, Inc.
  • Emerson Electric Co.,
  • Flowserve Corp.
  • Ham-Let Group
  • ITT Engineered Valves
  • KITZ Corp.
  • KSB AG
  • SPX Flow, Inc.
  • The AVK Group
  • Velan, Inc.
  • Watts Water Technologies, Inc.
Note: Product cover images may vary from those shown
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • An Introduction to Industrial Valves
  • Select Industrial Valves and their Characteristics
  • Major Industrial Valves and Their End-Use Industries
  • Parameters Considered for Selection of a Valve
  • Industrial Valves: Current Market Scenario and Outlook
  • Product Segment Analysis
  • Ball Valves: Largest Product Segment
  • Butterfly Valves Remain a Major Category
  • Sustained Demand for Check Valves
  • Diaphragm Valves Continue to Gain Traction
  • Slowing Demand for Gate Valves
  • Globe Valves Continue to Make Gains
  • Plug Valves Emerge as Fastest Growing Category
  • Safety Valves: Niche Segment
  • Developing Economies Provide Major Impetus to the Market Expansion
  • World Industrial Valves Market by Region (2019 & 2025): Percentage Breakdown of Revenues for Developed and Developing Regions
  • World Industrial Valves Market - Geographic Regions Ranked by % CAGR (Revenues) for 2018-2025: Asia-Pacific, China, Latin America, Middle East, Africa, Canada, USA, Europe, and Japan
  • Relative Stability in Economic Environment Bodes Well for Industrial Valves Market
  • Global Economic Outlook: Real GDP Growth Rates in % by Country/Region for the Years 2018 through 2021
  • Competitive Scenario
  • Industrial Valves: Fragmented Marketplace
  • Vendors Emphasize Reducing Lead Time
  • Consolidation Gathers Steam
  • Recent Market Activity
  • Global Competitor Market Shares
  • Industrial Valves Competitor Market Share Scenario Worldwide (in %): 2019
  • Leading Players in the Global Control Valves Market: Percentage Breakdown of Value Sales by Company for 2019
  • Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
  • AVK Holding A/S (Denmark)
  • Anvil International (USA)
  • Baker Hughes Company (USA)
  • Cameron (USA)
  • Crane Co. (USA)
  • Barksdale, Inc. (USA)
  • CRANE ChemPharma & Energy (USA)
  • Crane Nuclear, Inc. (USA)
  • Emerson Electric Co. (USA)
  • Flowserve Corp. (USA)
  • Ham-Let Group (Israel)
  • IMI Critical Engineering (UK)
  • ITT Engineered Valves (USA)
  • KITZ Corp. (Japan)
  • KSB AG (Germany)
  • SPX Flow, Inc. (USA)
  • The Weir Group PLC (UK)
  • Velan, Inc. (Canada)
  • Watts Water Technologies, Inc. (USA)
3. MARKET TRENDS & DRIVERS
  • Prevailing Scenario in the Industrial Manufacturing Sector Revs Up Demand for Industrial Valves
  • Industrial Production in Select Countries (In US$ Billion) As of January 2020
  • Established Use Case Across Diverse Sectors Sustains Market Expansion
  • Oil & Gas Industry: Major End-Use Sector
  • Critical Importance of Transmission Processes Extends Robust Opportunities
  • Breakdown of Pipeline Miles for Under Construction and Planned Projects Worldwide (in %): 2019
  • Worldwide Planned and Under Construction Pipeline Projects (2019): Percentage Breakdown of Pipeline Miles by Geographic Region
  • Healthy Trajectory in Oil & Gas Sector Favors Growth
  • Increasing Subsea Activities Augur Well
  • Worldwide E&P Capital Spending in $ Billion by Region and Type of Company for the Period 2017-2019
  • Global Subsea Systems Market in US$ Thousand: 2018-2025
  • Breakdown of Global Oil Production Volume by Onshore, Offshore, and Offshore Deepwater Activity for the Years 2011, 2015 and 2019
  • Electric Power Generation Emerges as Fastest Growing End-Use Sector
  • Global Electricity Generation in Billion kWh by Fuel Type for the Years 2010, 2020, 2030, 2040 and 2050
  • Electricity Consumption in Trillion kWh by Region for the Years 2010, 2012, 2014, 2016 and 2018
  • China and India Lead the Global Rise in Demand for Electricity: Change in Gross Electricity Demand in TWh for 2017-50
  • Growing Focus on Renewable Energy to Spur Demand
  • Sustained Opportunities in Nuclear Power Sector
  • Global Nuclear Power Current Capacity by Country (2019): Percentage Breakdown of Plant Capacity (GWe) for Canada, China, France, Japan, Russia, South Korea, USA, and Others
  • Operational and Under Construction Nuclear Power Reactors Worldwide by Country: 2018
  • Water & Wastewater Industry: Infrastructure Development Drives Need for Valves
  • Strong Prospects in Petroleum Refining Bode Well for Valves Market
  • Pulp & Paper Industry: Unique Needs of Mills Set Demand Trends for Valves
  • Despite Challenging Conditions, Demand Remains Intact in Iron & Steel Industry
  • Widespread Adoption of Industrial Automation Creates Fertile Environment
  • Valves Market Gears Up for Industry 4.0 Environments
  • Global Spending on Industry 4.0 Technologies (in US$ Billion) for the Years 2019, 2021, and 2023
  • Urban Sprawl Extends Broad-based Opportunities
  • World Urban Population in Thousands: 1950-2050
  • Percentage of Urban Population in Select Countries for 2018, 2020, 2030, 2040 and 2050
  • Smart City, the New Urban Infrastructure Concept, to Fuel Fresh Wave of Growth
  • World Smart City Investments (in US$ Billion) for the Years 2018 through 2025
  • Breakdown of World Smart City Investments (in %) by Country/Region for the Year 2019
  • Bright Future Ahead for Plastic Valves
  • Fluid Power Valves Poised to Post Growth
  • Water and Gas Valves Seek Opportunities
  • Industrial Spray Valves Remain Highly Relevant
  • Thermostatic Valves Make Gains
  • Solenoid Valves: Continuous Evolution and Expansion
  • Technological Innovations & Improvements Sustain Market Momentum
  • Technology Advancements Spur Progressive Evolution in Product Design & Efficiency
  • Rise of IoT Seeks Additional Improvements to Valve Technology
  • Technology Advancements Strive to Curb Fugitive Emissions
  • A Note on Novel Trends in Valve Design Across Valve Types
  • Regulations, Codes and Standards Governing Industrial Valves Market: An Overview
  • List of Specifications Considered for International Standards Accreditation
  • Issues & Challenges
  • Dearth of Favorable Governmental Policies and Lack of Certifications
  • Fluctuations in Raw Material Prices
  • High Fabrication Costs
  • Volatile Oil Prices
4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

GEOGRAPHIC MARKET ANALYSIS

UNITED STATES
  • The United States: Major Market for Industrial Valves
  • Surging Investments in Pipeline Infrastructure Development Rev Up Demand
  • US Crude Transport by Mode (2015, 2020 & 2025): Percentage Share Breakdown for Pipeline, Railroads, and Others
  • Market Analytics
CANADA
  • Market Overview
  • Pipeline Programs Favor Growth
  • Market Analytics
JAPAN

CHINA
  • China: Major Consumer of Industrial Valves
  • Infrastructure Investments Favor Market Expansion
  • Oil & Gas Sector Emerges as New Growth Vertical
  • Electric Power Industry Propels Overall Demand
  • Renewed Emphasis on Nuclear Power Plants Fuels Demand for Nuclear Reactor Valves
  • Outshining Standard Valves, Automatic Valves Gain Traction
  • Competitive Scenario
  • Chinese Industrial Valves Market: A Highly Fragmented Marketplace
  • Leading Players in the Chinese Control Valves Market: 2019
  • Chinese Valve Production Output by Province (in %) for the Year 2019
  • Imports Continue to Deter Prospects of Domestic Manufacturers
  • Market Analytics
EUROPE
  • Market Overview
  • European Valve Industry by Category (2019): Percentage Breakdown of Production Value for Industrial Valves and Building Valves
  • Emphasis on Oil & Gas Pipeline Networks Augurs Well
  • Regulatory Compliance to Trigger Growth
  • Market Analytics
FRANCE

GERMANY
  • Market Overview
  • Market Analytics
ITALY

UNITED KINGDOM

SPAIN

RUSSIA
  • Market Overview
  • Market Analytics
REST OF EUROPE

ASIA-PACIFIC
  • Industrial Valves Market in Asia-Pacific: A Brief Overview
  • Market Analytics
AUSTRALIA

INDIA
  • India: A Lucrative Market
  • Growing Automation Investments Steer Demand
  • Intelligent Valves Make a Cut
  • Expansion of Natural Gas Network to Benefit Industrial Valves Market
  • COMPETITIVE SCENARIO
  • A Fragmented Marketplace
  • A Note on Leading Players
  • Small Scale Manufacturers Expand Capacities
  • Growing Opportunities in Foreign Markets
  • Indian Industrial Valves Market by Distribution Channel (in % Value) for 2019
  • Market Analytics
SOUTH KOREA
  • Market Overview
  • Market Analytics
REST OF ASIA-PACIFIC
  • FOCUS ON SELECT MARKETS
  • Singapore
  • The Philippines
  • Market Analytics
LATIN AMERICA

ARGENTINA

BRAZIL

MEXICO
  • Robust Opportunities for Industrial Valves Market
  • Market Analytics
REST OF LATIN AMERICA

MIDDLE EAST
  • Middle East: Increasing Demand for Industrial Valves
  • Opportunities Rife in the Sprawling Oil & Gas Sector
  • Market Analytics
IRAN

ISRAEL

SAUDI ARABIA

UNITED ARAB EMIRATES

REST OF MIDDLE EAST

AFRICA
  • South Africa: Prominent Consumer of Industrial Valves
  • Market Analytics
IV. COMPETITION
  • Total Companies Profiled: 326
Note: Product cover images may vary from those shown
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