Gate Valve: Introduction
- A gate valve is used to control flow of fluids such as oil and gas in the pipes. It is used in various industries to safeguard the machinery and process from explosions. Gate valves control the fluid by obstructing the pathways of fluids fully or partially. They can operate manually with the help of levers or other devices, or automatically by using sensors and programming.
- Increasing industrial applications due to growth in industrialization and urbanization is anticipated to fuel the demand for gate valves in the coming years. Metal fabrication, and oil and gas are the major consumers of gate valves. Growth in these industries across the globe is expected to encourage the demand for gate valves during the forecast period.
Key Drivers of the Global Gate Valve Market
- Major consumers of gate valves are oil and gas, petroleum, and pharmaceutical industry. Growth in industries across the globe owing to rapid economic development in several emerging countries surges the demand for different industrial products including gate valves. Growing demand for petroleum products is encouraging petroleum industries to increase the production which also supports the gate valve market.
- Manufacturers are focusing on technological advancement and product innovations to cater to increasing demand in diverse regional markets across the globe. Improvement in features of gate valves such as friction reduction and pressure management, and continuous improvement in valve efficiency is expected to stimulate the gate valve market during the forecast period.
Gate valves have lucrative opportunities in developing countries across the globe
- Surge in development rate across emerging countries in Asia Pacific and South America is taking place due to increasing number of industries and significant population growth. Gate valves are mainly preferred in industries such as petrochemicals, petroleum, and metal fabrication. These industries are expected to show growth across most of the emerging economies which is anticipated to create lucrative opportunity for gate valve manufacturers to expand their business in the coming years.
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Volatile price of raw material and high maintenance cost of gate valves expected to hamper the market
- Increasing volatility in raw material prices and high maintenance cost of gate valves is anticipated to hinder the market growth during the forecast period. Growing volatility in raw material prices influences the ability of manufacturers to produce gate valves based on specific requirements. However, companies are increasing investment in research and development for cost-effective technology to reduce the cost of gate valves.
Asia Pacific anticipated being the fastest growing region of the global gate valve market
- Asia Pacific is expected to be the fastest growing market for gate valves during the forecast period owing to increasing demand from emerging countries across the region. Growth in major industries and rising urbanization are the major driving factors in this region.
- However, North America and Europe have dominated the market and are anticipated to retain their share in the near future. Increasing production of oil and gas, and growing demand for valves for gas transportation in midstream infrastructure is expected to surge the market in the coming years.
- Growing demand from petroleum industries is anticipated to increase the share of the Middle East & Africa market during the forecast period.
Key Players Operating in the Global Market
The global gate valve market involves some major international players who account for approximately 15% - 20% of the market share. A few of the major players operating in the global gate valve market are:
- Bray International
- DeZURIK, Inc.
- Flowrox Oy
- ITT INC
- SISTAG AG
- Stafsjö Valves AB
- Weir Group PLC
- Zhejiang Linuo Flow Control Technology
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Global Gate Valve Market: Research Scope
Global Gate Valve Market, by Type
- Solid Wedge
- Flexible Wedge
- Split Wedge
Global Gate Valve Market, by Material
- Cast Iron
Global Gate Valve Market, by Application
- Oil & Gas
- Water and Wastewater Treatment
- Other (energy and power, food and beverage etc.)
Global Gate Valve Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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