Global Industrial Valves Market with COVID-19 and Oil Price Crisis Impact Analysis 2020-2025 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Industrial Valves Market With COVID-19 & Oil Price Crisis Impact Analysis By Function (On-off/Isolation, Control), Material, Type, Size, End-User (Oil & Gas, Energy & Power, Water & Wastewater Treatment), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global industrial valves market was valued at USD 74.2 billion in 2019 and is projected to reach USD 85.7 billion by 2025. It is expected to grow at a CAGR of 12.3% during the forecast period.

Control valves to witness a higher CAGR during the forecast period

Rapid developments in electronics have resulted in the introduction of advanced control systems and state-of-the-art actuator/valve combinations that are now installed in new plants. Through connected networks, monitoring of valve conditions, and predicting impending valve deterioration is possible.

This, in turn, reduces the unplanned/accidental shutdown of plants and leads to the rising adoption of control valves. Various critical /severe service applications make use of control valves where manual operation is either not safe or requires more effort and time. Hence, the market for control valves is expected to grow at a higher CAGR during the forecast period.

Based on the size, valves sized up to 1 and 1 to 6 to account for the largest share during 2020-2025.

Valves sized up to 1 and 1 to 6 together account for a larger share of the overall industrial valves market in 2019. A similar trend is likely to be observed during the forecast period. This growth can be attributed to the rising adoption of these valves in various critical and severe service applications in multiple industries, such as oil & gas, energy & power, water & wastewater treatment, chemicals, food & beverages, and pulp & paper.

Energy & power end-use industry to witness the highest CAGR during the forecast period.

Energy & power end-use industry is expected to witness the highest CAGR during the forecast period. In the energy & power industry, there is a strong need to develop infrastructure to balance the future demand for energy. This trend is creating an opportunity for manufacturers to design and develop their products as per the requirements and standards of the industry. Valves, specifically with digital capabilities, are in demand for safety applications and critical operations.

APAC to record the highest growth rate in industrial valves market during the forecast period

North America is likely to be the highest growing market for industrial valves market in the coming years North America is a key market for industrial valves as the region is home to a few of the largest multinational corporations, such as Emerson (US), Cameron-Schlumberger (US), Flowserve Corporation (US), Crane Co. (US).

The increasing R&D activities in the region pertaining to the use of actuators in the valves for automation and the rising demand for safety applications are among the crucial factors driving the market in North America. R&D at industry levels is broadening the application areas of industrial valves in different industries, such as energy & power and chemicals, in the US. Control valves are used in the oil & gas, energy & power, and water & wastewater treatment industries to control media flow through a system, as well as to start, stop, or throttle the flow and ensure safe and efficient process automation.

Research Coverage

The report defines, describes, and forecasts the industrial valves market based on function, type, material, size, end-users, and geography. It provides detailed information regarding factors such as drivers, restraints, opportunities, and challenges influencing the growth of the industrial valves market.

It also analyzes competitive developments such as product launches, acquisitions, expansions, contracts, partnerships, and developments carried out by the key players to grow in the market. The industrial valves market comprises major players such as Emerson (US), Cameron - Schlumberger (US), Flowserve (US), IMI Plc. (UK), Metso (Europe), Spirax Sarco (UK), Crane Co. (US), KITZ Corporation (Japan), Trillium Flow Technologies (UK), and BRAY International (US). The study includes an in-depth competitive analysis of these key players in the industrial valves market, with their company profiles, recent developments, and key market strategies.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

3.1 Industrial Valves Market: Realistic Scenario

3.2 Industrial Valves Market: Optimistic Scenario

3.3 Industrial Valves Market: Pessimistic Scenario

4 Premium Insights

5 Market Overview

5.1 Introduction

5.2 Market Dynamics

5.2.1 Drivers

5.2.1.1 Increasing Demand for Valves from Healthcare and Pharmaceuticals Industries due to Outbreak of COVID-19 Pandemic

5.2.1.2 Growing Focus on Development of Smart Cities Globally

5.2.1.3 Rising Need for Connected Networks to Maintain and Monitor Industrial Equipment

5.2.1.4 Surging Requirement for Establishing New Nuclear Power Plants and Revamping Existing Ones

5.2.2 Restraints

5.2.2.1 Lack of Standardized Norms and Governing Policies

5.2.3 Opportunities

5.2.3.1 Implementation of Valves in Water & Wastewater Treatment Plants to Handle Sanitation-Related Issues With Rapid Spread of COVID-19

5.2.3.2 Utilization of IIoT and Industry 4.0 in Industrial Plants

5.2.3.3 Application of 3D Printing Technology in Manufacturing Valves

5.2.3.4 Need for Replacement of Outdated Valves and Adoption of Smart Valves

5.2.3.5 Focus of Industry Players on Offering Improved Customer Services

5.2.4 Challenges

5.2.4.1 Adverse Impact of COVID-19 Pandemic on Key End-User Industries such as Oil & Gas and Energy & Power

5.2.4.2 Slowdown in Oil & Gas Sector due to Oil Price Crisis

5.2.4.3 Rise in Collaboration Activities Among Industry Players

5.2.4.4 Unplanned Downtime due to Malfunctioning or Failure of Valves

6 Industry Trends

6.1 Introduction

6.2 Value Chain Analysis

6.3 Impact of COVID-19 on Valve Ecosystem and Extended Ecosystem (Adjacent Markets)

6.3.1 Raw Material and Component Suppliers

6.3.2 OEM Manufacturers

6.3.3 System Integrators

6.3.4 Sales Consultants and Distributors

6.4 Consumer Buying Process

6.4.1 Online Valve Purchase Trend to Disrupt Traditional Consumer Buying Process of Valve Industry

6.5 Industry Trends

6.5.1 Digitization AN+D125D Integration of Advanced Technologies such as Artificial Intelligence into Industrial Valves

6.5.2 Impact of IoT on Industrial Valves Market

7 Industrial Valves Market, by Function

7.1 Introduction

7.2 On-Off/Isolation Valves

7.3 Control Valves

7.4 The Author's View Point (Impact of COVID-19 & Oil Price Crisis)

8 Industrial Valves Market, by Material

8.1 Introduction

8.2 Steel

8.3 Cast Iron

8.4 Alloy Based

8.5 Cryogenic

8.6 Others

9 Industrial Valves Market, by Type

9.1 Introduction

9.2 Ball Valves

9.3 Butterfly Valves

9.4 Check Valves

9.5 Diaphragm Valves

9.6 Gate Valves

9.7 Globe Valves

9.8 Plug Valves

9.9 Safety Valves

9.10 The Author's Viewpoint (Impact of COVID-19 & Oil Price Crisis)

10 Industrial Valve Market, by Size

10.1 Introduction

10.2 Up to 1

10.3 1-6

10.4 6-25

10.5 25-50

10.6 50 and Larger

11 Industrial Valves Market, by End-User Industry

11.1 Introduction

11.2 Oil & Gas

11.3 Water & Wastewater Treatment

11.4 Energy & Power

11.5 Pharmaceuticals

11.6 Food & Beverages

11.7 Chemicals

11.8 Building & Construction

11.9 Pulp & Paper

11.10 Metals & Mining

11.11 Agriculture

11.12 Others

12 Geographic Analysis

12.1 Introduction

12.2 North America

12.3 Europe

12.4 Asia-Pacific (APAC)

12.5 Rest of the World (RoW)

13 Competitive Landscape

13.1 Overview

13.2 Market Player Ranking Analysis

13.3 Competitive Scenario

13.3.1 Acquisitions and Agreements

13.3.2 Key Product Developments/Launches and Expansions

13.4 Competitive Leadership Mapping

13.4.1 Visionary Leaders

13.4.2 Innovators

13.4.3 Dynamic Differentiators

13.4.4 Emerging Companies

13.5 Strength of Product Portfolio

13.6 Business Strategy Excellence

14 Company Profiles

14.1 Introduction

14.2 Key Players

14.2.1 Emerson

14.2.2 Cameron - Schlumberger

14.2.3 Flowserve Corporation

14.2.4 IMI plc

14.2.5 Metso Corporation (Future Neles Corporation)

14.2.6 Spirax Sarco

14.2.7 Crane Co.

14.2.8 Kitz Corporation

14.2.9 Trillium Flow Technologies (Weir Flow Control)

14.2.10 Bray International

14.3 Right to Win

14.4 Other Important Players

14.4.1 Neway Valve Co.

14.4.2 Velan Inc.

14.4.3 Samson Controls

14.4.4 AVK Holding A/S

14.4.5 Avcon Controls

14.4.6 Forbes Marshall

14.4.7 Swagelok

14.4.8 Ham-Let

14.4.9 Dwyer Instruments

14.4.10 Apollo Valves

For more information about this report visit https://www.researchandmarkets.com/r/2f2bdk