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The global industrial valves market is expected to be valued approximately US$71.8 billion in 2022. With the increasing utilisation of industrial valves for regulating material flow, overall demand is expected to expand at a moderate CAGR of 4.3% between 2022 and 2029, totaling US$ 96.2 Billion by 2029.

Up from the revenues worth US$ 71.8 Bn Estimated in 2022, the global market for industrial valves is projected to witness modest growth by the end of 2029. A new market research report by Future Market Insights (FMI) suggests that the increasing exploration activities for new water sources will predominantly favor the growth of market over the course of coming years.

Get | Download Sample Copy with Graphs & List of Figures:
https://www.futuremarketinsights.com/reports/sample/rep-gb-4162

The steady expansion of chemical industry and revival of oil & gas industry are also likely to play a crucial role in pushing sales of industrial valves at a global level. Furthermore, FMI’s report indicates that abundant opportunities exist in chemical, and water & wastewater industries.

The gate type of industrial valves segment is predicted to account for a significant value share of the global industrial valves market. Furthermore, throughout the projection period, the globe valve segment is predicted to be the most prominent. Gate valves, closely followed by globe and ball valves, are expected to be the most popular industrial valve types over the projected period. However, a number of manufacturers are focused on investments in global industrial valves. FMI's research also shows that butterfly valves are becoming increasingly popular across industries.

The analysis of industrial valves market on the basis of materials reveals that cast steel, carbon steel, and stainless steel remain the preferred materials among manufacturers of industrial valves, which collectively account for ~85% shares in the revenues. Bronze is likely to emerge lucrative as a material of choice, over the years to come, as indicated by report findings.

Market in APEJ Projected for Remunerative Growth

The market in Asia Pacific excluding Japan (APEJ) is expected to exhibit lucrative growth potential in the global industrial valves market over the forecast period of 2022-2029. According to the report, this growth is propelled by the rapid growth in the oil & gas industry in countries of APEJ such as India and China, and ASEAN Countries, among others. The economic condition of these countries have been positively developing.

Furthermore, owing to the effects of macroeconomic factors such as growing population, urbanization, and rapid industrialization, the confidence of investors and investments in housing and other residential projects across APEJ has increased drastically. Consequently, the region’s chemical has considerable momentum over the past few years. This overall scenario is translating into modest growth in the demand for valves across the multiple industries, eventually pushing the market growth potential of APEJ.

Industrial Valves Market: Vendor Insights

The report highlights some of the prominent market players, who have established themselves as leaders in the global industrial valves market such as GE Company, Emerson, Flowserve Corporation, Schlumberger Limited, TechnipFMC Plc, KSB SE & Co. KGaA, x KITZ Corporation, Alfa Laval Corporate AB, Curtiss-Wright Corp., CIRCOR International, Inc., IMI Plc, Mercer Valve Co., Inc., National, Oilwell Varco, Inc., Weir Group Plc., Neway Valves, AVK International A/S, Flowserve Corporation, and LESER GmbH & Co. KG, among others.

The global industrial valves market is significantly consolidated with some players holding prominent shares of the market. These players are offering industrial valves under their popular brands such as Cameron, and World Valves, among others.

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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