Global Industrial Valve Market Outlook to 2028

Global Industrial Valve Market Outlook to 2028

Industrial valves are used to regulate liquids, gases, and slurries. The pipes or other passageways are used to transfer liquids and gas in which the valves control the flow by opening, closing or by partially closing the passageway or pipe.

The industrial valve market is expected to grow rapidly due to rapid industrialization and urbanization, Asia-Pacific is expected to achieve faster growth due to the increase in the need for wastewater treatment and rise in the demand of oil and gas and power sectors to satisfy the growing population.

Global manufacturers rely on valves to control critical processes and ensure safety in their plants. Today, they also want the associated hardware and controls packaged together for a complete control solution. The industry now has valves, actuators and instruments that help, create fully automated, safety-certified industrial solutions.

The demand growth for oil is growing rapidly at 0.54 million barrels per day in the US, 0.45 million barrels per day in China and 0.21 million barrels per day in India in 2018. With the increase in demand for oil, the demand for industrial valves also sees an increase in the region. The US produced 10,891 thousand barrels of crude oil per day in July 2018 and increased to 11,806 thousand barrels of crude oil per day in July 2019.

Natural gas consumption grew by 4.6% (170 bcm) in 2018 and stands at 3,850 bcm in which the US and China accounts for 70% of the global growth, driven by a strong global economy and the switch from coal to gas was responsible for approximately 40 bcm of the increase in gas which was more than one-fifth of the total extra demand.

The report provides a detailed analysis of the Global Industrial Valves Market, the present and the forecast of the market has been analyzed from different sources. It provides a comprehensive market analysis along with the market share, market sizing, and market segmentation. It provides a perspective on the various market opportunities and market threats along with the key trends that would influence the market growth during the forecast period. It presents insights into the changing competitive landscape and detailed profiling and market analysis of the vendors.
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