Although, the report expects the global industrial valve market to grow at a sluggish place. According to the report, titled “Industrial Valve Market: Global Industry Analysis (2012–2016) and Opportunity Assessment (2017-2027),” the global market for industrial valves will record global sales of a little over 600 Mn units over the forecast period. The market, which is estimated to reach US$ 59 Bn value by the end of 2017, is poised to showcase a CAGR of 3.7% and bring in US$ 87.6 Bn by 2027-end. In terms of volume, as well, the global industrial valve market is expected to register a 4% CAGR over the forecast period.
Global Industrial Valve Market: Key Restraints
In North America, new water & wastewater treatment projects are being stalled, which has decline the adoption of industrial valves in this region; Listless growth in the US power market has curtailed the need for industrial valves, which play a key role in construction of new power plants; Canada's oil rigging activities are facing a decline, which has adversely impacted the sales of industrial valves in this country
Declining oil prices, lack of standardisation, and availability of cheaper alternatives, are also common restraints observed in industrial valve markets across several regions. In terms of volume, the Asia-Pacific excluding Japan (APEJ) region is expected to exhibit a relatively higher CAGR compared to other regions. The APEJ industrial valve market is expected to exhibit a volume CAGR of 4.2% over the forecast period, primarily due to high demand for industrial valves in residential projects. Meanwhile, North America will remain a lucrative market for industrial valves, accounting for more than 30% of global revenues through 2027.
The report also reveals that demand for industrial valves made from stainless steel will gain traction. In 2017 and beyond, over 60% of global industrial valve revenues will be attributed stainless steel and cast steel raw materials. The report further profiles key players in the global industrial valve market which include Flowserve Corporation, Emerson, AVK Holding A/S, KSB Aktiengesellschaft, Zhejiang FuGe Fluid control equipment CO.,LTD., Cameron International Corp., Neway Valve, LESER GmbH & Co. KG Hamburg, CIRCOR International, Inc., KITZ Corporation, ABO valve, Tecofi, Guichon Valves, Robvalve, Polna corp. s.r.o, Gunric Valves (Pty) Ltd, John Mills Valves, Achech Europe, Orion Valves, Exotica Valves.
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