Industrial valves Market: Applications in oil & gas, energy & power, and water and wastewater treatment drive the market growth

 Puuja Patange

According to the new market research report "Industrial Valves Market by Material Type (Cast Iron, Steel, Cryogenic, Alloy Based), Size, Valve Type (Ball, Butterfly, Gate, Globe, Check, Plug), Industry (Oil & Gas, Water & Wastewater, Energy & Power), and Geography - Global Forecast to 2023", the industrial valve market is expected to grow from USD 70.53 billion in 2018 to USD 85.19 billion by 2023, at a CAGR of 3.96% between 2018 and 2023. The key factors that are driving the growth of this market include the increased need for industrial valves from oil and gas production-related facilities in GCC countries, elevated energy demand in APAC, smart city development initiative across the world, high demand for predictive maintenance techniques from manufacturing industries, and stringent environmental and safety regulations to make energy sector more resilient.

The industrial valve market in Asia Pacific (APAC) accounted for the largest share of the overall market in 2017 is expected to grow at the highest CAGR during the forecast period. Major factors driving the growth of the valve market in APAC include increasing population and rising focus of emerging economies on investing in industries such as energy & power, oil & gas, water & wastewater treatment, chemicals, and construction in which industrial valves are used.

Emerson (US), Cameron – Schlumberger (US), IMI PLC (US), Flowserve (US), and Weir Group (UK) are among a few major players in the industrial valve market.

Oil & Gas

Each segment of the oil & gas industry upstream, midstream, and downstream offers its own examples of extreme conditions for valves. In the upstream segment, valves control the flow of crude oil and natural gas from high-pressure injection systems to choke valves and blow-out preventers at the top of wells. In the upstream segment, valves are used in gas treatment and liquefaction, and storage in the oil and gas plant. Valves, generally gate or ball valves, are selected especially for tight shut-off, flow erosion resistance, and corrosion resistance. Cryogenic services demand that valves should be made of materials compatible with low temperatures and other special designs. Midstream solutions for loading/offloading terminals and storage tanks for oil and gas products offer more opportunities for valve suppliers. Gate valves are commonly used for oil and refined-product pipelines, and ball valves are usually implemented for gas pipelines. Valve requirements for the downstream market include higher pressure designs and metal-seating technology and metallurgies to accommodate temperatures at which modern refineries operate.

The increasing demand for maintenance operations in refineries will create lucrative opportunities to companies with core engineering competencies. Apart from the growing demand for fuel and subsequent capacity expansions, the market for maintenance repair overhaul (MRO) services will get a boost from stringent environmental and quality regulations. All these factors will boost the demand for industrial valves from the oil & gas sector.

Energy & Power

A large power plant uses hundreds of valves to manage the flow of water and steam. In this plant, valves are used in different units/systems, such as gas pipelines, SCR storage and gas injection units, fuel storage and distribution systems, combustion turbines, flash tanks, steam turbines with condensers, feed water distribution units, heat exchangers, and deaerators. In the energy & power industry, valves are also used to stop and start the flow, reduce or increase the flow, control the direction of the flow, and regulate the flow or process pressure or relieve a pipe system of a certain pressure. Applications of industrial valves include pollution control, feed water, cooling water, chemical treatment, and steam turbine control systems.

Water & Wastewater Treatment

In the water & wastewater treatment industry, application-specific valves are used in finished water storage units, influent control units, equalization basin systems, blowers, pumps, neutralization units, sludge thickening units, filtration units, disinfection units, incinerators, and others.

The need for clean water and wastewater treatment facilities will increase despite the industry struggles with rising operational and maintenance costs because of the increasing expenditures on chemicals and enhanced treatment procedures. The industry also must adapt more easily to meet changing environmental regulations and comply with the existing and upcoming federal water regulations. These factors will drive the demand for industrial valves from the water & wastewater treatment industry.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

Domain: Energy
Category: Wind/Water/Geo
Posted By: Puuja Patange and Contact Puuja Patange

Recent Press Releases

Industrial Safety Market

Global Industrial Safety Market Research Report: by Type (Emergency Shutdown Systems (ESD) Fire & Gas Monitoring Systems, High Integrity Pressure Protection Systems (HIPPS), Burner

20 September, 2019

VTP Pegasus Kharadi Is Amongst The M...

VTP Realty is a prominent name in Pune’s real estate market. The company has numerous residential and commercial projects to its credit. The company has won respect for its i

20 September, 2019

LIDAR Indusry

The global LIDAR Market is expected to reach USD 1.44 billion by the end of 2022 with 21 % CAGR during forecast period 2019-2022. Global LIDAR Market, By Type (Terrestrial, Airborn

20 September, 2019