The growth of global manufacturing and oil & power industry is one of the major driving factors of the market.
PORTLAND, Ore. , Feb. 17, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Industrial Valves Market by Material type (Cast iron, Steel, Alloy based, and Others), by Valve type (Ball valves, Butterfly valves, Gate valves, Globe valves, Plug valves, Check valves, and Diaphragm valves), by Application (Oil and Power, Water and wastewater, Chemical, Food and beverage, and Others): Global Opportunity Analysis and Industry Forecast, 2022-2031" According to the report, the Industrial valves market valued for $64,994.9 million in 2021 and is projected to reach $1,10,472.2 million by 2031, registering a CAGR of 5.3% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios. Electric Butterfly Valves
Growth in demand for automation in control industrial valves and surge in investments in the oil and gas industry in North America drives the growth of the market. Furthermore, growth of the food & beverage processing industry in developing countries positively influences the market growth. On the other hand, the increased tariff on raw materials can restraints the growth of the market. However, advancements in technology, is anticipated to provide lucrative growth opportunities for the market. Download Free Sample Report (219 Pages PDF with Insights, Charts, Tables, Figures): https://www.alliedmarketresearch.com/request-sample/2545
Shutdown of manufacturing plants during the COVID-19 lockdowns, restricted the growth of the industrial valves market.
However, the rapid growth of manufacturing sector in Asia-Pacific , has fueled the recovery of the industrial valves market.
The steel segment is expected to maintain its dominance during the forecast period -
By material type, the steel segment contributed to the highest share in 2021, accounting for over two-fifths of the global industrial valves market revenue. The alloy based segment would also showcase the fastest CAGR of 5.9% during the forecast period, attributed to corrosive resistance and long durability of alloy valves.
The globe valve segment held the largest market share during the forecast period-
By valve type, the globe valve segment held the major share in 2021, holding around one-fifths of the global industrial valves market revenue. The butterfly valve segment is expected to showcase the highest CAGR of 5.8% throughout the forecast period. This is attributed to its cost effectiveness and operational efficiency. Buy this Research Report @ https://bit.ly/414Hg62 The oil & power segment is expected to dominate the market during the forecast period-
By application, the oil & power segment accounted for over two-fifths of the global industrial valves Market share in 2021, and is expected to rule the roost by 2031. The food & beverage segment would also display the fastest CAGR of 5.9% throughout the forecast period. This is attributed to the growth of food & beverage industry in Asia-Pacific .
Asia-Pacific garnered the major share in 2021-
By region, Asia-Pacific held the major share in 2021, garnering nearly two-fifths of the global Industrial Valves Market. LAMEA, on the other hand, LAMEA would showcase the fastest CAGR of 5.6% during the forecast period. Rapid growth of manufacturing industry in Asia-Pacific is expected to propel the market growth.
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EG Valves Manufacturing Co., Ltd.
Fluidchem Valves (India ) Pvt. Ltd
Fluidline Valves Co. Pvt. Ltd.
Sirca International S.p.A.
Tianjin City Binhaihuayi Valve Co., Ltd.
The report analyzes these key players in the global industrial valves market. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.
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