Industrial Expansion in Growing Economies Drives Demand for Industrial Valves, According to a New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) May 06, 2015 -- Follow us on LinkedIn - Industrial valves are mainly utilized in capital-intensive industries and are designed to regulate and control flow and pressure of liquids, gases, steam and slurries. Valves are also used as flow controllers for pipelines, through which gases, liquids and semi-solids are transported. Valves primarily serve end-use markets such as oil & gas, chemical, petroleum and power, among others. A key driving factor for growth in the market is the growing global energy needs and the ensuing increase in oil & gas exploration, energy generation and petroleum refining activities. Pharmaceutical, biotechnology, and food processing sectors are also expected to spur demand for valves. Use of valves in applications such as etching chemicals, ultrapure water systems, and chip washing is poised to benefit from the healthy outlook for the semiconductor and electronics industries.
Growth in the market is largely reliant on investments in manufacturing facilities. Buoyed by technology innovation in valve systems, the market is expected to witness strong growth in the coming years. Several factors, including pollution control regulations, rising demand for water and power and rapid growth of process industries, work in tandem to drive growth in the industrial valves market. The construction of new nuclear power stations in the coming years is expected to spur demand for industrial valves used in nuclear power plants. The need to upgrade aging nuclear plants to ensure conformance with safety standards is expected to spur sales of nuclear valves. Valves used in petroleum refining plants are poised to witness growth, driven by proposed new capacity additions against a backdrop of growing demand for motor vehicle fuel.
As stated by the new market research report on Industrial valves, Asia-Pacific represents the largest regional market worldwide, supported by developments in water infrastructure, and expansion of the manufacturing sector. The region is forecast to grow at a projected CAGR of 7.2% over the analysis period, led by China. Quarter-turn Valves represents the largest product market with growth driven by the increased focus on plant automation. Automated Control & Regulator Valves represents the fastest growing product market. Oil & Gas Transmission represents the largest end-user of valves, while electric power generation will emerge to spur future growth in the market.
Major players in the market include The AVK Group, Barksdale, Inc., Cameron, Crane Co., CRANE ChemPharma & Energy, Crane Nuclear, Inc., Emerson Electric Co., Flowserve Corporation, Flowserve Essen GmbH, Grinnell Mechanical Products, Hamlet-Let Group, ITT Engineered Valves, KITZ Corporation, KSB AG, Pentair Ltd., SPX Corporation, Velan, Inc., and Watts Water Technologies, Inc., among others.
The research report titled "Industrial Valves: A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of trends, issues, strategic industry activities, and profiles of major companies worldwide. The report provides market estimates and projections in US$ for geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Middle East & Africa, and Latin America. Product markets analyzed include Multi-turn Valves (Globe & Gate Valves and Other Multi-turn Valves), Quarter-turn Valves (Ball Valves, Butterfly Valves and Industrial Plug Valves), Safety & Relief Valves, Automated Control & Regulator Valves and Other Industrial Valves. End-use application markets analyzed include Chemical, Petroleum Refining, Pulp & Paper, Water & Sewage Utilities, Electric Power Generation, Oil & Gas, Iron & Steel, and Other industries.
For more details about this comprehensive market research report, please click here
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/
Global Industry Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.
###
Public Relations, Global Industry Analysts, Inc., http://www.StrategyR.com/, +1 408-528-9966, [email protected]
Share this article