South America Industrial Valve Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Material Type (Cast Iron, Steel, Cryogenic, Alloy-Based, and Others), Valve Type (Ball Valves, Butterfly Valves, Diaphragm Valves, Safety Valves, and Piston

South America Industrial Valve Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Material Type (Cast Iron, Steel, Cryogenic, Alloy-Based, and Others), Valve Type (Ball Valves, Butterfly Valves, Diaphragm Valves, Safety Valves, and Piston RAM Valves), and Industries (Oil and Gas, Water Treatment, Power and Energy, Chemicals and Petrochemical, Food and Beverage, Healthcare and Pharmaceutical, and Others)

The SAM industrial valve market is expected to grow from US$ 1,588.71 million in 2021 to US$ 2,015.46 million by 2028; it is estimated to grow at a CAGR of 3.5% from 2021 to 2028.

Continuous advancements in microprocessor processing capabilities and high-speed connectivity technologies have paved the way for the wide-scale deployment of the Internet of Things (Io T) among other modern technologies. With the growing emphasis on digitalization and automation the value chain among manufacturers for achieving high efficiency and productivity is leading industrial valve market players to offer Io T- ready industrial valves. For instance, Belimo Energy Valve, a product of BELIMO Holding AG, offers easy access to valuable data and control of the valves such as measure flow, monitor the current energy consumption, controlling valve position, flow, or the thermal power with the help of Modbus, MP-Bus, BACnet, or Io T connectivity. Further, smart valves are capable of monitoring their health and can predict any forthcoming adversities in their operations. An ideal smart valve is offered with an integrated battery backup, a small solar panel, Wi-Fi connectivity, and a dedicated remote control feature. In water supply applications, the authorized users receive SMS when the valve cuts the water supply. Continuous progress in smart cities projects across the region is anticipated to create demand for smart industrial valves for monitoring and controlling the utility lines, thereby driving the SAM industrial valve market growth during the forecast period.

Brazil was the most-affected country in SAM owing to COVID-19 outbreak, followed by Chile, Ecuador, Peru, and Argentina in 2020. To curb the spread of the novel coronavirus, various economic activities in the region were partially halted. The COVID-19 outbreak adversely affected the mining in SAM's oil & gas sectors. In the wake of the crisis, manufacturing & construction, mining, and oil & gas activities have been severely disrupted, which subsequently restrained the growth of the industrial control valve market in the region. In SAM, Argentina and Brazil are two prime natural gas-producing countries that account for approx. 40% of the entire region. However, during the COVID-19 pandemic, these countries witnessed a significant decline in their oil & gas-related activities due to the collapsed oil and gas prices. The decline restricted activities related to the storage and transportation of liquid gas products, which lowered the demand for industrial valves in the region. However, since late 2020, economies in SAM have been resuming slowly, and oil & gas companies have subsequently started their operations. This development is expected to drive the growth of the SAM industrial valve market in the coming years.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. Thus, the SAM industrial valve market is expected to grow at a good CAGR during the forecast period.

SAM Industrial Valve Market Revenue and Forecast to 2028 (US$ Million)

SAM Industrial Valve Market Segmentation

SAM Industrial Valve Market - by Material Type

Cast Iron Steel Cryogenic Alloy-Based Others SAM Industrial Valve Market - by Valve Type

Ball Valves Butterfly Valves Diaphragm Valves Safety Valves Piston RAM Valves SAM Industrial Valve Market - by Industries

Oil and Gas Water Treatment Power and Energy Chemicals and Petrochemical Food and Beverage Healthcare and Pharmaceutical Others SAM Industrial Valve Market - by Country

Brazil Argentina Rest of SAMSAM Industrial Valve Market - Companies Mentioned

CIRCOR International, Inc. Crane Co. Emerson Electric Co. Flowserve Corporation IMI Critical Engineering KITZ Corporation Neway Valve (Suzhou) Co., Ltd Schlumberger Limited Spirax-Sarco Engineering plc Velan Inc.

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