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  3. Valves Market Segmentation by Product Type - Pressure Reducing Valves, Safety/Relief Valves, Control Valves, Globe Valves, Plug Valves, Gate Valves, Ball Valves, Butterfly Valves, Diaphragm Valves; Industry - Oil and gas, Power, Nuclear Power, Chemicals, Marine, Construction, Pulp and paper, Mining, Water and Wastewater Treatment

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Valves Market: Snapshot

Valves are used to control the flow of fluids and gases in number of industries. Rising industrialization globally has given rise to the demand of industrial valves. Often, valves are used to contain flammable, hazardous fluids and gases. Valves control the pressure of such fluids and gases such that they do not escape or leak from the pipes or the pipeline systems. Valves can be manually and automatically operated. The strong need for efficient workplace safety has increased as many industrial processes produce flammable gases and fluids. The need for efficient work place safety is expected to fuel the demand for valves globally. The Global Valves market is anticipated to grow at a CAGR of 7.0 % during the forecast period 2018 to 2026. The Global Valves market was valued at US$ 60,906.1 Mn in 2016. The Valves market is also fueled by strict government regulations, policies and acts imposed by governments across different countries globally.

Valves market is mainly driven by increasing demand for pipeline infrastructure. This is majorly attributed to the growing natural gas production from the shale formations that has spurred growth in pipeline constructions, thus propelling the growth of the valves market. Further increasing number of merger & acquisition involving advanced valve manufacturing technologies has been identified as one of the major trends in regions such as North America & Europe. This is attributed to the strategic investments of the companies in technology sector. The intent of M&A is to generate the new source of revenue from new customers and markets by improvising product and service innovation. Furthermore, one of the major reason in the growth of valves market is due to the rise in investments in oil & gas markets. For example: The U.S exports of the refined products, Liquefied Natural Gas and crude oil saw a significant surge as the crude oil export ban was lifted in January 2016. The region is experiencing heavy investments by the oil & gas companies in exploration activities.

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The rise in the U.S. upstream spending is primarily driven by the factors such as rising oil field services costs and increased drilling activity. Moreover, based on various oil and gas CAPEX announcements, Oil & Gas Journal (OGJ), stated that upstream spending will surge by 37.8% upto US$ 120 Bn.

Moreover, the trend of companies focusing on automation of their manufacturing plants is majorly seen globally. Complicated processes involved in industries such as oil & gas and pulp & paper are controlled automatically with the usage of robots and other advanced technologies. These processes are generally termed as plant automation or process automation. Introduction of technology in industries globally has made industrial activities highly flexible and effective. The aim of industries to enhance productivity, reduce cost of production, and improve work place safety are some reasons that are projected to foster the increase of plant automation. Valves have been an integral part of process automation system in industries, as they determine the efficiency of the plant. Valves in industries such as manufacturing, oil & gas, water and wastewater treatment, pulp & paper, chemicals, automobile, and food & beverage have witnessed rapid increase in adoption with introduction of process automation. Crucial performance areas for valves on automated plants include complex piping systems, fluctuating temperature pipes, and process pressure control.

The global valves market comprises of large as well as mid-sized valve manufacturers and suppliers. Companies such as Honeywell International, Inc., Emerson Electric Co. and Bürkert Fluid Control Systems have been able to establish strong presence in various countries across the world. The vendors present in Valves market are currently focusing on introducing efficient valves with increased pressure control capacities. Moreover, the vendors are adopting partnership and acquisition strategies to proficiently compete in the regional market.

Some other significant players engaged in Valves market in Global include Industrial Scientific AVK Holding A/S, Rotork Plc, General Electric Company, Goodwin International Ltd, Schlumberger Limited, Flowserve Corporation and KITZ Corporation.

Valves Market: Overview

This comprehensive report by Transparency Market Research analyzes and forecasts 3D audio market at the global and regional level. The report provides an analysis of the global valves market for the period from 2016 to 2026, wherein the period from 2018 to 2026 comprises the forecast period and 2017 is the base year. Data for 2016 is provided as historical information. The report covers all the major trends playing a major role in the growth of the valves market over the forecast period. It also highlights various drivers, restraints, and opportunities expected to influence the market’s growth during this period. The study provides a complete perspective on the valves market growth in terms of revenue in US$ Mn and volume in Mn units, across different geographical regions namely North America, Europe, Asia Pacific, Middle East & Africa and South America. The report would help manufacturers, suppliers, and distributors to understand the current and future trends in the market and formulate their strategies accordingly.

The market overview section of the report showcases the market dynamics and trends such as the drivers, restraints, and opportunities that influence the current nature and future status of this market. The report also provides the value chain analysis for the valves market. These market estimates have been analyzed by taking into account the impact of different political, social, economic, technological, and legal factors along with the current market dynamics affecting the market growth.

Global Valves Market: Scope of the Report

Valves market is segmented by product type, by industry and by industry by type. By product type, global valves market is categorized into pressure reducing valves, safety/relief valves, control valves, globe valves, plug valves, gate valves, ball valves, butterfly valves, diaphragm valves and other valves. Control valves is further segmented on the basis actuation technology. Gate valves, globe valve, ball valves, butterfly valves and diaphragm valves are further segmented based on valve type. Furthermore, the industry segment is categorized into oil & gas, power, chemicals, marine, construction, pulp & paper, mining, water and wastewater treatment and others. Oil and gas industry is segmented into LNG (Liquefied natural gas) and petroleum. Petroleum sector is further categorized as upstream, midstream and downstream. The power industry is segmented as fossil, nuclear power and other power. Fossil segment of power is further sub segmented as coal & oil and natural gas. Further, the report includes estimation of valves market by product type by industry for various sectors such as oil & gas, fossil, petrochemical, nuclear power and other sectors. Revenue as well as volume data is estimated for all above mentioned segments.

The report also includes competitive profiling of the key players associated with the valves market around the globe. The important business strategies adopted by leading players, their market positioning, financials, SWOT analysis, and recent developments have also been identified in the research report. The competitive landscape section of the report also gives an overview about the major contributing regions/countries by these key players in order to strengthen their market position in the future.

Global Valves Market: Research Methodology

The valves market data estimates are the result of our in-depth secondary research, primary interviews and in-house expert panel reviews. In order to compile the research report, we conducted in-depth interviews and discussions with a wide range of key industry participants and opinion leaders. Primary research represents the bulk of our research efforts, supplemented by extensive secondary research. Primary research involves telephonic interviews, e-mail interactions, and face-to-face interviews for detailed and unbiased reviews on the valves market, across geographies. Primary interviews are usually conducted on an ongoing basis with industry experts and participants in order to get latest market insights and validate the existing data and analysis. Primary interviews offer new and fresh information on important factors such as market trends, market size, competitive landscape, growth trends, etc. These factors help to validate and strengthen secondary research findings. Moreover, the data collected and analyzed from secondary and primary research, is again discussed and examined by our expert panel. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding purposes. Secondary research also includes a study of recent trade journals, technical writing, internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.

Global Valves Market: Competitive Dynamics

Rising demand for valves and growing emphasis on efficient quality of valves has made companies to develop advanced valves to continue the profitability of the market. Honeywell International Inc., Emerson Electric Co., KITZ Corporation, Bürkert Fluid Control Systems, Schlumberger Limited, Flowserve Corporation, AVK Holding A/S, Rotork Plc, General Electric Company and Goodwin International Ltd are a few key players which have been profiled in this study. Details such as financials, business strategies, SWOT analysis, recent developments, and other such as strategic information pertaining to these players has been duly provided as part of company profiling.

Market Segmentation: Global Valves Market

By Product Type

  • Pressure Reducing Valves
  • Safety/Relief Valves
  • Control Valves
  • Globe Valves
  • Plug Valves
  • Gate Valves
  • Ball Valves
  • Butterfly Valves
  • Diaphragm Valves
  • Other Valves

By Industry

  • Oil & Gas
    • LNG
    • Petroleum
      • Upstream
      • Midstream
      • Downstream
        • Petrochemical
      • Power
        • Fossils
          • Coal & Oil
          • Natural Gas
        • Nuclear Power
        • Other Power
      • Chemicals
      • Marine
      • Construction
      • Pulp & Paper
      • Mining
      • Water & Waste Water Treatment
      • Others

In addition, the report provides analysis of the valves market with respect to the following geographic segments:

  • North America
    • The U.S.
    • Canada
    • Rest of North America
  • Europe
    • The U.K.
    • Germany
    • France
    • Italy
    • Rest of Europe
  • Asia Pacific (APAC)
    • China
    • India
    • Japan
    • Rest of Asia Pacific
  • Middle East and Africa (MEA)
    • United Arab Emirates (U.A.E.)
    • Saudi Arabia
    • South Africa
    • Rest of MEA
  • South America
    • Brazil
    • Rest of South America
.