A recent report by Fact.MR states the global industrial valves market is expected to experience a substantial growth during the tenure of 2019 to 2029. The growth of the market is attributed to growing concern about security in industries especially oil and gas. The industry is proactively adopting these equipment for several reasons, including the maintenance of optimal pressure in in each pipe so that refineries can work efficiently. Secondly, to control the flow of oil and gas in the pipes so as to avoid any leakage. Owing to similar adoptions by various industries including oil and gas, the global industrial valves market is projected to witness a massive growth from 2019 to 2029.
Asia Pacific Excluding Japan is Projected to Have the Largest Share in the Market
During the tenure of 2019 to 2029, Asia Pacific Excluding Japan or APEJ is projected to have the lion’s share in the global industrial valves market. The growth of the region is the result of growing industrialization and demand for better operational valves in industries like water supply and management, chemicals, manufacturing. Moreover, growth of oil and gas industry in the region is also a crucial factor that supports the growth of Asia Pacific excluding Japan in global industrial valve market between 2018 and 2026. During this tenure APEJ shall account for US$ 15.3 bn in terms of revenue.
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The region is followed by Europe in terms of growth. The region has various stringent regulations for oil and gas industries. The companies must abide these security regulations and must have the valves with prescribed specifications in order to operate in Europe. These stringent regulations also help the region to grow with a steady pace in the global industrial valve market from 2019 to 2029.
Acquisitions to Have a Sustainable Future
The global industrial valves market is highly competitive and fragmented. This scenario of the market is majorly attributed to the presence of several prominent players controlling the dynamics of the market. These players are investing a massive sum in research and development to bring new products in the market. This has begun a constant race of supremacy among the players of the global industrial valves market.
In order to stay ahead of the rivals, the players are adopting strategies such as acquisition, partnerships, and mergers. However, among these strategies, acquisition is expected to be the most adopted strategies among the players. For instance, in 2018 Curtiss-Wright finished the acquisition of Dresser Rand Government Business for US$ 212.5 mn. This helped the company to expand its production capacity. With this acquisition Curtiss-Wright can emerge as one of the most prominent players of global industrial valves market.
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Gate Valves to Dominate the Market
Among various categories of the global industrial valves market mentioned in the report by Fact.MR, the gate valve segment is expected to witness a substantial growth during the tenure of 2019 to 2029. The dominance of the region is expected to be the result of widespread application of gate valves in water management and supply industry along with oil and gas industry. Moreover, the development of new power plants in countries like India is where huge amount of water is required, also propels the growth of gate valves. These factors are majorly responsible for the dominance of the segment in global industrial valves market from 2019 to 2029.
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