GCC and MENA Valves Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

GCC and MENA Valves Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The GCC and MENA valves market is expected to expand at a CAGR of over 5%, during the forecast period. One of the major factors driving the growth of the market studied is the expanding power generation sector in the GCC countries.

Key Highlights

• By tType, the gate valves accounted for the largest share in the market studied.
• By application, the market segment accounted for the largest market share and it is expected to witness the fastest CAGR during the forecast period.
• Saudi Arabia dominated the market and it is also expected to witness a CAGR of over 7% during the forecast period.

Key Market TrendsIncreasing Demand from Industrial Application

• Valves are extensively used for industrial applications, for controlling the flow of any fluid through a system. In industries, valves are used to start, throttle, or stop the fluid flow to ensure safe and efficient operation.
• They are used in various parts of daily mechanical devices, including its application in heating, ventilation, and air conditioning (HVAC) and water systems in offices and gasoline mechanism for vehicles.
• The usage of valves ranges from application in pipelines, the oil and gas industry, marine industry, to power, food and beverages, and pharmaceutical industries.
• Pipelines stand to be one of the most integral arrangements in various industries, such as oil and gas, refineries, and power generation, to transport media from its source to the place where it is to be used or transformed into final products. There are thousands of miles of crucial pipelines running across the world for transportation of oil and gas, LNG, etc. Such pipelines run in both onshore, as well as offshore locations.
• In such industries, valves are used in the upstream, midstream, and downstream sectors for application in piping, where they help to optimize the operating conditions of pipelines. The countries, such as Kuwait, Saudi Arabia, Algeria, and Oman, have been witnessing greenfield investments and expansions in pipeline projects. With this, the demand for valves is also expected to increase in the coming years.
• In the marine industry, valves play a crucial role, where they are used more frequently to generate power, manage and treat wastewater, and control HVAC, as well as perform their required tasks. The size and application of the ship determine the different types and number of valves to be used onboard.
• Hence, all such industrial application of valves and anticipated growth of such industries in the MENA and GCC countries are expected to drive the demand for valves for industrial applications at a steady pace, in the coming years.

Saudi Arabia to Dominate the Market

• Saudi Arabia economy was majorly driven by the growth of the oil and gas industry, with limited contribution of the non-oil sector to GDP of the kingdom. However, the government, in its 10th development plan, came up with its initiatives to reform the economic plans, with investments in diversified sectors, and have been trying to attract private investments in the country to make it a diversified economy that is not dependent on oil.
• There are numerous oil and gas, refinery, and pipeline projects in the kingdom, which are either in planning, exploration, or construction phase. Such projects are likely to drive the demand for valves market in the coming years.
• Furthermore, the government plans to diversify the economy through investments in non-oil industries, such as chemical, construction, healthcare, and automotive sectors. This is expected to lead to an increase in water treatment plants, as the pollution and water waste is expected to increase.
• The waste from the oil and gas industry is also expected to increase again, with commencement of operations of projects under construction. Besides, water shortage is further increasing the water treatment activities in the kingdom, further driving the industrial valves market.
• In this regards, over USD 66 billion in long-term capital investments have been committed for water and sanitation projects in the Kingdom in the next decade, while the government aims to achieve 100% reuse of wastewater from cities with 5,000 inhabitants or more by 2025.
• Owing to all these factors, the market for valves int eh region is likely to grow during the forecast period.

Competitive Landscape

The GCC and MENA valves market is partially consolidated in nature. The major companies include Baker Hughes, a GE Company, Crane Co., Emerson Electric Co., Schlumberger Limited, and Alfa Laval AB, among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

ABO Valve
Alfa Laval AB
AVK Gulf And Watecom International Water Network LLC
Emerson Electric Co.
Flowserve Corporation
Emirates Valves
IVM Saudi
FlowCon IVC
IMI Critical Engineering
Baker Hughes, a GE Company
Georg Fischer Ltd
Danfoss AS
Crane Co.
Circor International Inc
Honeywell International Inc.
Saint
Gobain
Schlumberger Limited
TechnipFMC PLC
The Weir Group PLC

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