The industrial valves market is foreseen to expand by ~1.4x, and is poised to reach a valuation of ~US$ 79 Bn by 2030-end, concludes a recently published report by Fact.MR. High consumption of oil & gas has been witnessed in the developed and developing regions. Thus, major exploration & production (E&P) companies are focusing on expanding their production facilities by building new processing plants and pipelines where industrial valves find high uptake. In regions such as North America, Europe, and Asia, major intra-country and inter-country pipeline projects are under development to meet the growing demand for oil & gas.
However, amid the COVID-19 pandemic, some pipelines projects are stalled. Six pipelines operators have reduced US$ 1.9 billion from their budgets, owing to record low oil prices and weakening demand. Players such as Noble Midstream Partners, Rattler Midstream, Targa Resources, EnLink Midstream, Oneok and Pembina Pipeline have made budget cuts in oil exploration, which represents an overall 30% of planned capital expenditure for new pipeline and storage projects in 2023. Thus, owing to fallen demand of oil & gas exploration and a reduction in overall project costs of pipeline infrastructure, the demand for industrial valves is set to reduce in 2023.
The following insights and evaluations are worth knowing for any market participant, helping them in ascertaining the prevailing dynamics and the future trajectories of the Industrial Valves Market. They are a part of the estimations of the opportunities in various segments. The additional new opportunities have turned the Industrial Valves Market into a fragmented landscape with more entry-level players entering the market, thanks to low barriers for investments.
After reading the Industrial Valves Market report, readers get insight into:
- Major drivers and restraining factors, opportunities and challenges, and the competitive landscape
- New, promising avenues in key regions
- New revenue streams for all players in emerging markets
- Focus and changing role of various regulatory agencies in bolstering new opportunities in various regions
- Demand and uptake patterns in key industries of the Industrial Valves Market
- New research and development projects in new technologies in key regional markets
- Changing revenue share and size of key product segments during the forecast period 2023 to 2031
- Technologies and business models with disruptive potential
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Regional analysis includes
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
- EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
- CIS & Russia
- Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)
- Middle East and Africa (GCC Countries, Turkey, Iran, Israel, South Africa , Rest of MEA)
Industrial Valves Manufacturer Insights
The global industrial valves market is highly competitive in nature. Prominent manufacturers are focusing on strategic acquisitions and geographic expansion to maintain their market position. For instance, In November 2018, Baker Hughes, a GE company, inaugurated a new steam test facility in Naples, Italy to focus on the scope and capacity of the plant, which includes a full range of consolidated safety valves and Masoneilan control valves. Some of the prominent players in the global market are Emerson Electric, KITZ Corporation, Schlumberger Limited, Flowserve Corporation, Watts Water Technologies, Weir Group Plc., Technip FMC Plc., KSB SE & Co. KGaA, Alfa Laval Corporate and among others.
Some important questions that the Industrial Valves Market report tries to answer exhaustively are:
- Key strategic moves by various players in the Industrial Valves Market in recent years with respect to product launches, deals and tie-ups, and mergers and acquisitions, and divestment of shares
- Which strategies will enable top players in the Industrial Valves Market to expand their geographic footprints
- Which new business models are expected to change the course of growth of key regional markets in near future
- Which technologies will witness most attractive research investments and what will be the key sources of funding for startups and new entrants
- Which products segments have in recent years have seen new, lucrative application areas
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