New York, NY, Sept. 10, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Oil and Gas Valves Market By Valve Type (Butterfly, Ball, Globe, Gate, Check, and Pressure Reducing), By Body Material (Cast and Forged), By Valve Size (0.25 to 8 Inches, 8 to 20 Inches, and Above 20 Inches), and By Application (Upstream, Midstream, and Downstream): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global oil and gas valves market accounted for USD 10.2 billion in 2018 and is expected to reach around USD 15.6 billion by 2025, at a CAGR of 6.24% between 2019 and 2025.
An oil and gas valve is a controlled device that regulates the flow of liquid by the variable. The dimension of the flow passageway of gas or fluid in a system is guided by a signal from a specific controller. These oil and gas valves are utilized to maintain operational different situations, such as liquid level, pressure, flow, and temperature.
Browse through 139 Tables & 35 Figures spread over 110 Pages and in-depth TOC on “Global Oil and Gas Valves Market: By Valve Type, Industry Size, Share, Applications, Trends, Analysis and Forecast, 2018–2025”.
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The oil and gas valves market is likely to experience significant growth in the years ahead, owing to the expansion of the power generation sector, robust industrialization, and substantial developments witnessed by technologies using mechanical engineering-based procedures. The rising energy demand and an increasing number of oil and gas projects in the pipeline will drive the oil and gas valves market in the years to come. However, the lack of skilled labors for operating these oil and gas valves may hamper the oil and gas valves market development on the global level. Alternatively, the escalating valves demand for IoT and Industry 4.0 architecture by various industries situated in the emerging countries is likely to generate new growth opportunities for the major players of the market in the future. Additionally, the rising focus on upgrading the production efficiency in industrial automation will further fuel the market for oil and gas valves. The manufacturing players are also focusing on developing innovative products, which is expected to open new growth avenues for the market in the upcoming years.
The oil and gas valves market is fragmented on the basis of valve type, body material, valve size, and application. On the basis of valve type, the oil and gas valves market includes butterfly, ball, globe, gate, check, and pressure reducing valves. Gate valves are expected to show the highest CAGR in the upcoming years. By body material, the global market for oil and gas valves is bifurcated into the cast and forged. The cast segment will be the fastest-growing in the oil and gas valves market in the future. The valve size segment of the market for oil and gas valves comprises above 20 inches, 8 to 20 inches, and 0.25 to 8 inches. Based on application, the oil and gas valves market include upstream, midstream, and downstream. The downstream segment was the most attractive in the market in 2018.
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In 2018, the North American region was the largest oil and gas valves market globally. This growth was mainly due to the rising adoption of automated valve operations across various end-user industries across the region. In North America, the recent shale gas reserves discovery will further fuel the oil and gas valves market in the years ahead. Moreover, increasing investments for fluid treatment technology in the pharmaceutical industry is witnessing astronomical growth, due to the rising use of oil and gas valves to improve hygiene and speed up the process. Technological advancements in various process industries need up-gradation and replacement of old valves.
In Europe, the government’s strict regulations and policies for oil and gas industries are propelling the oil and gas valves market along with the expansion of oil and gas production via subsea sources. Furthermore, the expensive labor hire in European countries are driving the key market players to move toward automation systems in different process industries.
Browse the full “Oil and Gas Valves Market By Valve Type (Butterfly, Ball, Globe, Gate, Check, and Pressure Reducing), By Body Material (Cast and Forged), By Valve Size (0.25 to 8 Inches, 8 to 20 Inches, and Above 20 Inches), and By Application (Upstream, Midstream, and Downstream): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/oil-and-gas-valves-market
The Asia Pacific oil and gas valves market is anticipated to be the fastest-growing region in the future, owing to the increasing demand for oil and gas valves, especially for downstream applications. India, China, and Japan are the major markets for the oil and gas valves in the region, due to the rising trend of valve adoption for automation. The growing domestic requirement and simple access to resources in the Asia Pacific have made the region a leading consumer and producers of oil and gas valves.
In Latin America, the growing flow of capital and rising investments for infrastructural projects is fueling the oil and gas valves market, mainly in Brazil. Robust industrialization is leading to a higher level of in-water pollution, which is resulting in increasing the demand for water and wastewater treatment services. Moreover, strict environmental rules and regulations for recycling water are also propelling the oil and gas valves market. In Latin America, rising activities for the exploration of shale gas in Brazil will further fuel this regional market.
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The Middle East and Africa is projected to experience moderate growth in the oil and gas valves market in the future, owing to the significant investments made by the international companies for region’s oil and gas valves projects.
Some major players of the oil and gas valves market are Schlumberger, CIRCOR International, Parker Hannifin, Metso Corporation, Emerson Electric, Watts Water Technologies, BHGE, National Oilwell Varco, The Weir Group, HYDAC, IMI, and Armstrong.
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This report segments the global oil and gas valves market into:
Global Oil and Gas Valves Market: Valve Type Analysis
- Butterfly Valves
- Ball Valves
- Globe Valves
- Gate Valves
- Check Valves
- Pressure Reducing Valves (PRV)
Global Oil and Gas Valves Market: Body Material Analysis
- Cast
- Forged
Global Oil and Gas Valves Market: Valve Size Analysis
- 0.25 to 8 Inches
- 8 to 20 Inches
- Above 20 Inches
Global Oil and Gas Valves Market: Application Analysis
- Upstream
- Midstream
- Downstream
Global Oil and Gas Valves Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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