Industrial Valve Market Estimates & Forecast, By Application, segments 2020−2027
Market
Highlights
Industrial
Valve Market is
expected to grow from USD 70.53 billion in 2017 to USD 90.77 billion by 2023,
at a CAGR of 4.53% during the forecast period. The ongoing industrialization in
developing countries such as India and continued growing adoption of latest
technology valves in process manufacturing units in developed countries are the
key drivers for the industrial valve market.
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Key players
The key players profiled in the industrial
valve market research report are Emerson (US), Schlumberger Limited (US), IMI
PLC (US), Flowserve Corporation (US), Weir Group (UK), Crane Co. (US), AVK
Holding A/S (Denmark), Kitz Corporation (Japan), Neway Valve (Suzhou) Co., Ltd
(China), and Conbraco Industries Inc. (US). The major players constantly focus
on growth strategies such as partnerships, mergers, acquisitions, and
product launches to enhance their product offerings and expand their market
reach. The other prominent players in the in the industrial valve market are
Samson AG (Germany), Velan Inc. (Canada), Forbes Marshall (India), Dwyer
Instruments, Inc. (US), Avcon Controls (India), Dwyer Instruments (US), PR
Valves LLC (US), and Danfoss A/S (Nordborg).
Regional
Analysis
The global market for
industrial valve market is estimated to grow at a significant rate during the
forecast period from 2018 to 2023. The geographical analysis of the industrial
valve market is done for North America, Europe, Asia-Pacific, and the rest of
the world.
Asia-Pacific accounted for the highest
market share in the industrial valve market in 2017, and it is expected to
register the highest CAGR during the forecast period. The growth in the market
in this region is attributable to factors including ongoing infrastructure
development, the rapid pace of industrialization, and growing investments in
end-use industries such as energy & power, oil & gas, water &
wastewater treatment, chemicals, and construction. Furthermore, the demand from
oil-producing region—Middle-East and Africa (MEA)—is expected to remain high
owing to the rise in production.
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