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
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.