Market Overview
A valve is a mechanical device that controls or regulates the flow of fluid (liquid or gas) by the action of closing and opening or partially obstructing various gateways. Valves are also used to control temperatures. In civic areas, valves are typically used to control the water supply for household applications. However, valves find applications in industrial use such as oil & gas, chemical, and more to perform crucial tasks. There are various types of valves used namely ball valve, gate valve, butterfly valve, and globe valve. Moreover, valves are used in demineralized water systems, high integrity pressure protection systems, radwaste systems in nuclear facilities, pressure control systems, on/off systems, etc.

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The global Valve Market was accounted for US$ 72,862.8 Mn in terms of value in 2019 and is expected to grow at CAGR of 6.8% for the period 2019-2027.

Market Dynamics- Drivers

Increasing number of oil & gas exploration activities are expected to drive growth of the global valves market during the forecast period
Valves have registered significant demand from the oil & gas industry, typically due to their extensive use throughout upstream, midstream, and downstream activities. Although there is high demand for oil & gas, supply for the same is declining due to worldwide decrease in oil & gas reserves. Thus, such circumstances have compelled oil & gas companies to explore new fields to enhance extraction efficiency. Governments of various countries are focused on investing in new oil & gas companies. For instance, according to Government of Dubai, as of 2017, it owns 1381 oil and gas companies. Demand for valves is anticipated to rise with rising oil & gas plants. Moreover, in February 2017, the U.S. crude oil production surpassed 9 million barrels per day, around 0.5 million barrels higher than in 2016. Floating production storage and offloading (FPSO) necessitates number of valves in activities such as offshore production platforms, tank farms, and gas storage. Hence, these factors are expected to support the market growth during the forecast period.
High growth in pipelines sector is expected to propel growth of the global valves market over the forecast period
Generally, valves are often placed at a pipeline distance of less than 10% of the total length of the pipeline for effective and easy control of gas in oil and gas and other industries. According to the Indian Oil Corporation Ltd. (IOCL), the natural gas pipeline network in India increased from 10,900 km to 15,000 km with an investment of US$ 1.5 Bn from 2015 to 2016. Moreover, countries such as the U.S> and the U.K. are expected to invest significantly in pipeline sector. For instance, in 2016, the U.S. government launched Dakota Access Pipeline Project, which is expected to carry 470,000 barrels per day of crude for 1,172 miles. Therefore, high growth of pipeline sector is expected to boost growth of the global valves market in the near future.
North America region dominated the global valve Market in 2019, accounting for 30.1% share in terms of volume, followed by Europe, Asia Pacific, Middle East and Africa and Latin America
Market Opportunities
High growth of refining and power generation industries can provide major growth opportunities
Sustained expansion of the economy is determined by adequate utilities and infrastructure development. Power sector offers lucrative growth prospects for the global valves market. Various countries around the globe are increasingly investing in power generation. For instance, as of August 2016, the total number of power plants in the U.S. was 7,658 that has the electricity generation capacity of at least 1 megawatt (MW). Moreover, in power generation plants, ball valves, globe valves, control valves, etc. play a crucial role. Opening and closing inlets and outlets and controlling cooling circuits in power plants are major roles of valves in a power plant. There has been a significant increase in number of power stations and power generation capacities across the globe. According to Coherent Market Insights’ analysis, as of 2017, the total installed capacity of power stations in India was 315,426 megawatt (MW). Moreover, The Ministry of Power of India has set a target of 1,229 Bn units of electricity to be generated in the FY 2017-2018.
Rising demand for valves in water treatment is expected to present major business opportunities
According to the United Nations Organization’s report published in March 2017, 80% of the world’s wastewater is released in the environment untreated. Such alarming consequences regarding untreated wastewater have increased the demand for wastewater treatment plants worldwide. Optimum water treatment systems and valves are employed to make water waste plants technically superior. Different types of valves are used in wastewater treatment plants including check valves, air valves, control valves, gate valves, etc. Check valves are installed in water treatment plants to avoid the flow of water while the pumps are not in operation. Whereas, main air valves are installed on the pump at high points on force to prevent vacuum pockets to prevent from creating force.

Market Taxonomy
This report segments the Global Valves Market on the basis of Product Type, Industry and Region. On the basis of Product Type, Global Valves Market is segmented into Pressure Reducing Valves, Safety/Relief Valves, Control Valves, Globe Valves, Plug Valves, Gate Valves, Ball Valves, Butterfly Valves, Diaphragm Valves and Other Valves. On the basis of Industry, the Global Valves Market is segmented into Oil&Gas (LNG, Petroleum (Upstream, Midstream, Downstream,(Petrochemical)), Power(Fossils(Coal & Oil, Natural Gas, Nuclear Power, Other Power)),Chemicals, Marine, Construction, Pulp & Paper, Mining, Water & Waste Water Treatment and Others. On the basis of region, Global Valves Market is segmented into North America, Latin America, Europe, Asia pacific, Middle East and Africa.

Key features of the study:

• This report provides an in-depth analysis of the Global Valves Market and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2019-2027), considering 2019 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
• It profiles leading players in the global Valves Market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
• These key market players are focusing on collaboration strategy with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
• Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology up gradation, market expansion, and marketing tactics
• The global Valves Market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the Global Valves Market

Detailed Segmentation:

Global Valves Market, By Product Type:
• Pressure Reducing Valves
• Safety/Relief Valves
• Control Valves
• Globe Valves
• Plug Valves
• Gate Valves
• Ball Valves
• Butterfly Valves
• Diaphragm Valves
• Other Valves
Global Valves Market, By Industry:
• Oil & Gas
• LNG
• Petroleum
• Upstream
• Midstream
• Downstream
• Petrochemical
• Power
• Fossil
• Coal & Oil
• Natural Gas
• Nuclear Power
• Other Power
• Chemicals
• Marine
• Construction
• Pulp & Paper
• Mining
• Water & Waste Water Treatment
• Others

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Competitive Section
Key players operating in the global valves market are Schlumberger Limited, Goodwin International Ltd, Honeywell International Inc., General Electric Company, Emerson Electric Co., Rotork Plc, KITZ Corporation, AVK Holding A/S, Bürkert Fluid Control Systems, and Flowserve Corporation.

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