Industrial valves are devices that control the flow and pressure of liquids and gases within a system. Valves are used to control the flow of liquids and gases in the piping systems and it should be checked consistently to avoid any risks such as leakage and corrosion. On the other hand, valves used in industries can be operated manually or automatically.
Growth of industrial valves market is driven by increasing
demand in industries such as oil and gas, wastewater and power among others.
The government of developing countries such as Brazil, India, and China among
others is investing heavily in pipeline infrastructure development mainly in
oil and gas sector, which is expected to drive the installation of industrial
valves over the forecasted period. This result in higher demand of valves used
in valve actuators namely, electrically, hydraulically and pneumatically among
others in different industry verticals. Moreover, continuous generation of
power via existing and old power plant is also driving the demand for
industrial valves market in power sector.
Some of the major restraints for industrial
valves market are price war among vendors and strict government
regulations and policies in the market. The participation of cross-industry
vendors in the industrial valves market is also escalating the competition
among valve vendors. For instance, pump and filtration vendors are offering
valves along with the core valve vendors. However, the companies would have to
develop specialized products in order to bring about product differentiation
and produce higher margin valves which will be less vulnerable to competition.
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The main types of industrial valves includes are ball,
globe, gate, and butterfly valves among others Ball valves are used in
rotational motion to start, stop or throttling the flow of fluids in the
system. The industrial valves market can be further segmented by end use
industries such as oil and gas, chemical and power among others. The growth in
revenues of the industrial valves market is observed with multiple factors such
as increased sale of industrial valves in building new infrastructure
development and utilities globally. In addition, repairs and renovation in the
existing infrastructure also drives the growth of industrial valves market.
Some of the key players operating in the industrial valves
market are Pentair ltd, Flowserve Corporation, Emerson Electric Co, FMC
Technologies, Alfa Laval AB, L&T Valves Ltd, IMI plc, Crane Co, AVK Group,
Tyco International, Kitz Corp, Circor International, Inc., Curtiss-Wright Corp.
and Cameron International Corporation among others.
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