LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global water and gas valves market provides an analysis on the most important trends expected to impact the market outlook from 2016-2020. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
Anju Ajaykumar, a lead analyst from Technavio, specializing in research on tools and components sector, says, “The flourishing oil and gas industry in China and Africa will lead to the demand for industrial valves. Increased exploration activities and the establishment of new refineries in these regions will benefit valve manufacturers. Moreover, as a result of the burgeoning population and rapid urbanization, the water and wastewater industry in China and India will witness significant growth during the forecast period, resulting in massive growth opportunities for valve manufacturers.”
The top three emerging trends driving the global water and gas valves market according to Technavio heavy industry research analysts are:
- Natural gas infrastructure in China
- Development of next-generation valves
- Increased demand for quarter-turn valves
Natural gas infrastructure in China
Extensive use of coal has resulted in high levels of air pollution in China. To overcome this impending issue, the country is reducing its dependence on coal and switching to cleaner alternatives such as natural gas.
China is the reservoir of the world’s largest shale gas reserves with more than 31 tcm of technically recoverable shale gas resources. The country’s investment in shale oil development during the forecast period is expected to be around USD160 billion.
Natural gas is cheaper to produce and has low emission characteristics. Reliance on natural gas will propel investment in gas pipeline construction-related projects. The Chinese energy infrastructure offers lucrative opportunity for both private and foreign investors, with the market earmarking USD 33 billion for future projects.
As valves are used to a considerable extent in the oil and gas industry, the above developments will lead to growth in demand for valves in this region, leading to further evolution of the regional market.
Development of next-generation valves
Many industrial valve vendors are developing next-generation valves with additional capabilities to increase their foothold in the competitive market. These recent products have threaded bonnets, a floating polytetrafluoroethylene diaphragm, and a zero minimum operating differential design that provides substantial benefits over the conventional valves. The new valves are gaining popularity as they can deliver 60% higher flow rates and longer operational life, and have a wide temperature range and pressure handling ability that can improve the efficiency of industrial production processes.
Flowserve, a leading manufacturer of flow control equipment, has developed a valve positioner involving a pioneering technology for modulating the control and monitoring of valves via wireless communication technology.
Other new and innovative products developed by vendors include ceramic valves that have valve sealing components and wearing parts made from ceramic material, which improves wear resistance and corrosion protection, thus extending the operational life of the valves.
Increased demand for quarter-turn valves
Some end-users of industrial valves are increasingly adopting quarter-turn valves. The closure shaft of these valves needs to be rotated 90 degrees. Butterfly, ball, and plug valves are the main types of quarter-turn valves. These quarter-turn valves are gaining importance as the closure shaft ensures quick opening or closing of valves.
The growth of the water industry, especially in APAC and EMEA has increased the demand for quarter-turn valves, as these valves are used in this industry to control and regulate the flow of water through pipelines. Quarter-turn valves also find high application in the oil and gas, power, pharmaceutical, food and beverage, pulp and paper, and oil refinery industries. These factors favor the growth of the butterfly valves market as these valves are one of the key segments of quarter-turn valves.
Browse Related Reports:
- Global Industrial Valves and Actuators Market 2015-2019
- Global Butterfly Valve Market 2015-2019
- Global Hydraulic Valve Actuators Market 2015-2019
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