Press release
Industrial Valves Market Size, Share & Global Insights 2023-2028
The Industrial Valves Market is expected to reach US$ 43,127.40 million by 2028 and it is estimated to grow at a CAGR of 5.4% from 2023 to 2028.
Operations related to the discovery of oil and gas in the Norwegian Sea, Kara Sea, Barents Sea, and the adjacent region near the North pole are a few factors fueling the demand for industrial valves in Europe. Increased emphasis on wastewater treatment across Europe and stringent government regulations related to the same are the other factors boosting the need for industrial valves in the region.
With the growing demand for crude oil and natural gas, the Gulf countries are increasing the production capacity of crude oil and natural gas, thereby driving the industrial valves market in the MEA. Countries such as Iran and Nigeria are actively focusing on increasing oil production, which is expected to offer lucrative growth opportunities to the industrial valves market players across the region. Venezuela and Brazil are among the largest crude oil producers, and they are focusing on increasing their production capacities owing to the high demand for oil and gas and natural gas across South America.
Get a Sample PDF of report at-https://www.premiummarketinsights.com/sample/TIP00004296?utm_source=OpenPr&utm_medium=10640
The List of Companies -
1. Velan Inc
2. Crane Co
3. CIRCOR International Inc
4. Flowserve Corp
5. Emerson Electric Co
6. KITZ Corporation
7. Neway Valve (Suzhou) Co Ltd
8. Spirax Sarco Engineering Plc
9. Schlumberger Ltd
10. Weir Group PLC
The global industrial valves market size is segmented based on material type, valves type, industry, and geography. Based on material type, the industrial valves market is segmented into cast iron, steel, cryogenic, alloy-based, and others. Based on valves type, the industrial valves market is classified into ball valves, butterfly valves, diaphragm valves, safety valves, piston ram valves, gate valves, and control valves. Based on industry, the market is bifurcated into oil & gas and chemicals & petrochemical. The industrial valves market, based on region, is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America
Continuous technological advancements are leading to greater exploration and production operations in the oil & gas industry. In APAC, the industrial valves market, new oil and gas reserves have been discovered in several nations such as China and Thailand. Thus, the rising adoption of exploration technologies is expected to offer lucrative opportunities for the industrial valves market across APAC in the coming years. Another important end-user industry in APAC is the chemical industry. Many global chemical manufacturers have manufacturing sites in China. China had the highest share of revenue distribution in the global chemical sector in 2021, accounting for ~43% of global chemical sales. To enhance efficiency and safety across these plants, the demand for advanced industrial valves is constantly rising from the chemical industry in APAC.
Get Full Report: https://www.premiummarketinsights.com/reports-tip/industrial-valve-market
Impact of COVID-19 Pandemic on Industrial Valves Market Growth
Most economic operations in the Middle East & Africa were suspended due to an increase in the number of COVID-19 cases in the first two quarters of 2020. Many countries in Africa are still in the developing phase. Countries in the Middle East, especially the Gulf Cooperation Council (GCC) countries, witnessed a notable decline in the oil & gas sector due to a sharp drop in oil demand from major end-user countries across Asia Pacific, Europe, and North America. As a result, countries in the MEA registered a low volume of oil and gas production and low storage and transportation of natural gas, which subsequently hampered the demand for industrial valves in the region.
The production of natural gas and domestic oil is low across Germany, and it majorly relies on imports. The country receives more than 50% of its oil from Russia. As per the BP statistical data of world energy 2022, the country is the largest consumer of natural gas in Europe; it consumed 4.5 billion cubic meters of natural gas in 2021. In addition, Germany is characterized by one of the largest chemical industries across the globe. In 2019, the country recorded ~2,900 chemical companies operating in Germany, and the chemical industry is one of the major consumers of industrial valves. Thus, the industrial valves market growth is expected to propel in the coming years due to the presence of many chemical companies and oil & gas companies in the country.
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Contact Us:
If you have any queries about this report or if you would like further information, please
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email: sales@premiummarketinsights.com
About Us:
Premium Market Insights is a one stop shop of market research reports and solutions to various companies across the globe. We help our clients in their decision support system by helping them choose most relevant and cost-effective research reports and solutions from various publishers.
The market research industry has changed in last decade. As corporate focus has shifted to niche markets and emerging countries, a number of publishers have stepped in to fulfil these information needs. We have experienced and trained staff that helps you navigate different options and lets you choose best research solution at most effective cost.
Premium Market Insights has an extensive coverage of industry reports, company reports and country reports across all industries. In case your research needs are not met by syndicated reports offered by leading publishers, we can help you by offering a customized research solution by liaising with different research agencies saving your valuable time and money.
We provide best in class customer service and our customer support team is always available to help you on your research queries. Our commitment to customer service is best exemplified by free analyst support that we offer to our clients which sets us apart from any other provider. We also offer enterprise subscriptions which provide significant cost savings to our clients.
Operations related to the discovery of oil and gas in the Norwegian Sea, Kara Sea, Barents Sea, and the adjacent region near the North pole are a few factors fueling the demand for industrial valves in Europe. Increased emphasis on wastewater treatment across Europe and stringent government regulations related to the same are the other factors boosting the need for industrial valves in the region.
With the growing demand for crude oil and natural gas, the Gulf countries are increasing the production capacity of crude oil and natural gas, thereby driving the industrial valves market in the MEA. Countries such as Iran and Nigeria are actively focusing on increasing oil production, which is expected to offer lucrative growth opportunities to the industrial valves market players across the region. Venezuela and Brazil are among the largest crude oil producers, and they are focusing on increasing their production capacities owing to the high demand for oil and gas and natural gas across South America.
Get a Sample PDF of report at-https://www.premiummarketinsights.com/sample/TIP00004296?utm_source=OpenPr&utm_medium=10640
The List of Companies -
1. Velan Inc
2. Crane Co
3. CIRCOR International Inc
4. Flowserve Corp
5. Emerson Electric Co
6. KITZ Corporation
7. Neway Valve (Suzhou) Co Ltd
8. Spirax Sarco Engineering Plc
9. Schlumberger Ltd
10. Weir Group PLC
The global industrial valves market size is segmented based on material type, valves type, industry, and geography. Based on material type, the industrial valves market is segmented into cast iron, steel, cryogenic, alloy-based, and others. Based on valves type, the industrial valves market is classified into ball valves, butterfly valves, diaphragm valves, safety valves, piston ram valves, gate valves, and control valves. Based on industry, the market is bifurcated into oil & gas and chemicals & petrochemical. The industrial valves market, based on region, is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America
Continuous technological advancements are leading to greater exploration and production operations in the oil & gas industry. In APAC, the industrial valves market, new oil and gas reserves have been discovered in several nations such as China and Thailand. Thus, the rising adoption of exploration technologies is expected to offer lucrative opportunities for the industrial valves market across APAC in the coming years. Another important end-user industry in APAC is the chemical industry. Many global chemical manufacturers have manufacturing sites in China. China had the highest share of revenue distribution in the global chemical sector in 2021, accounting for ~43% of global chemical sales. To enhance efficiency and safety across these plants, the demand for advanced industrial valves is constantly rising from the chemical industry in APAC.
Get Full Report: https://www.premiummarketinsights.com/reports-tip/industrial-valve-market
Impact of COVID-19 Pandemic on Industrial Valves Market Growth
Most economic operations in the Middle East & Africa were suspended due to an increase in the number of COVID-19 cases in the first two quarters of 2020. Many countries in Africa are still in the developing phase. Countries in the Middle East, especially the Gulf Cooperation Council (GCC) countries, witnessed a notable decline in the oil & gas sector due to a sharp drop in oil demand from major end-user countries across Asia Pacific, Europe, and North America. As a result, countries in the MEA registered a low volume of oil and gas production and low storage and transportation of natural gas, which subsequently hampered the demand for industrial valves in the region.
The production of natural gas and domestic oil is low across Germany, and it majorly relies on imports. The country receives more than 50% of its oil from Russia. As per the BP statistical data of world energy 2022, the country is the largest consumer of natural gas in Europe; it consumed 4.5 billion cubic meters of natural gas in 2021. In addition, Germany is characterized by one of the largest chemical industries across the globe. In 2019, the country recorded ~2,900 chemical companies operating in Germany, and the chemical industry is one of the major consumers of industrial valves. Thus, the industrial valves market growth is expected to propel in the coming years due to the presence of many chemical companies and oil & gas companies in the country.
Buy Now this Report @: https://www.premiummarketinsights.com/buy/TIP00004296?utm_source=OpenPr&utm_medium=10640
Contact Us:
If you have any queries about this report or if you would like further information, please
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email: sales@premiummarketinsights.com
About Us:
Premium Market Insights is a one stop shop of market research reports and solutions to various companies across the globe. We help our clients in their decision support system by helping them choose most relevant and cost-effective research reports and solutions from various publishers.
The market research industry has changed in last decade. As corporate focus has shifted to niche markets and emerging countries, a number of publishers have stepped in to fulfil these information needs. We have experienced and trained staff that helps you navigate different options and lets you choose best research solution at most effective cost.
Premium Market Insights has an extensive coverage of industry reports, company reports and country reports across all industries. In case your research needs are not met by syndicated reports offered by leading publishers, we can help you by offering a customized research solution by liaising with different research agencies saving your valuable time and money.
We provide best in class customer service and our customer support team is always available to help you on your research queries. Our commitment to customer service is best exemplified by free analyst support that we offer to our clients which sets us apart from any other provider. We also offer enterprise subscriptions which provide significant cost savings to our clients.
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