during the forecast period. Strong demand for control valves from oil and gas companies in North America, Latin America and Africa is a critical factor driving the growth of the control valve segment.
New York, Jan. 14, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Industrial Valves Market with COVID-19 Impact Analysis by Function, Material, Type, Component, Size, End User and Region – Global Forecast to 2026” – https://www.reportlinker.com/p04933551/?utm_source=GNW
Growing demand for municipal machinery such as electric sweepers and garbage vehicles from developing countries in APAC and the Middle East is another factor contributing to the growth of this segment. Hence, the control valve market is expected to grow at a higher CAGR during the forecast. period.
Based on size, valves sized Valves sized
Actuators will witness a higher CAGR during the forecast period.
Actuators are expected to experience the highest CAGR during the forecast period. Rapid developments in electronics have led to the introduction of advanced control systems and state-of-the-art actuator and valve combinations are now being installed in new plants.
Through connected networks, it is possible to monitor valve status and predict impending valve deterioration. This, in turn, reduces unplanned/accidental plant shutdown and leads to the increasing adoption of actuators in valves.
Various critical/severe service applications use actuators where manual operation is unsafe or requires more effort and time. Hence, the actuator market is expected to grow at a higher CAGR during the forecast period.
The energy and electricity end-use industry will witness the highest CAGR during the forecast period.
The energy and electricity end-use industry is expected to witness the highest CAGR during the forecast period. In the energy and electricity industry, there is a strong need to develop infrastructure to balance future energy demand.
This trend creates an opportunity for manufacturers to design and develop their products in accordance with industry requirements and standards. Valves, especially with digital capabilities, are in demand for safety applications and critical operations.
North America to register the highest growth rate of industrial valves market during the forecast period
North America is likely to be the fastest growing market for the industrial valves market in the coming years. North America is a key market for industrial valves, as the region is home to some of the largest multinational corporations, such as Emerson Electric Co. (USA), Schlumberger (USA), Flowserve Corporation ( United States) and Crane Co. (United States). . Rising R&D activities in the region regarding the use of actuators in valves for automation and rising demand for safety applications are among the crucial factors driving the North America market. Industry-level R&D expands the application areas of industrial valves in different industries, such as energy and electrical and chemical, in the United States. Control valves are used in the oil and gas, power and electrical, water and wastewater industries to control the flow of fluids in a system, as well as to start, stopping or throttling flow and ensuring safe and efficient process automation.
In-depth interviews were conducted with CEOs, CMOs, other innovation and technology managers, and executives from various key organizations operating in the industrial valve market.
• By type of business: level 1 – 40%, level 2 – 35% and level 3 – 25%
• By designation: C-level executives – 40%, managers – 35% and others – 25%
• By region: North America – 30%, Europe – 25%, APAC – 35% and Rest of the world – 10%
The industrial valve market includes major players such as Emerson Electric Co. (USA), Schlumberger (USA), Flowserve Corporation (USA), IMI plc (USA), Neles Corporation (Finland), Spirax Sarco Limited (UK), Crane Co. (USA), KITZ Corporation (Japan), Trillium Flow Technologies (USA), Bray International (USA) and CIRCOR International, Inc. (USA ). These leading players have strong product and service portfolios and are present in mature and emerging markets.
The study includes an in-depth competitive analysis of these key Industrial Valves Market players, along with their company profiles, recent developments, and key market strategies.
The report defines, describes and forecasts the Industrial Valves market based on function, type, component, material, size, end-users and geography. It provides detailed information on factors such as drivers, restraints, opportunities, and challenges that influence growth. of the industrial valves market.
It also analyzes competitive developments such as product launches, acquisitions, expansions, contracts, partnerships, and developments made by major players to expand in the market.
Key Benefits of Purchasing the Report
The report will assist market leaders/new entrants in this market with information on the closest approximations of revenue figures for the overall Industrial Valves market and sub-segments. This report will help stakeholders understand the competitive landscape and acquire more information to better position their businesses. and plan appropriate go-to-market strategies.
The report also helps stakeholders understand the pulse of the market and provides them with insights into key market drivers, restraints, challenges, and opportunities.
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