Sarasota, FL, June 26, 2017 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Subsea Valves Market (Subsea Gate Valves, Subsea Needle Valves, Subsea Ball Valves, Subsea Check Valves and Others): Global Market Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022”. According to the report, global subsea valves market was valued at USD 302.50 million in 2016 and is expected to reach USD 334.50 million in 2022, growing at a CAGR of 3.7% between 2017 and 2022.
Subsea valve is the special component that controls and directs the flow of the liquid. These valves offer unique physical and mechanical properties such as waterproofing, leakage free and have the ability to withstand long-term corrosion effects from high salt content seawater, perform in high-temperature and high-pressure condition, etc. therefore, it finds broad range of applications including oil & gas industry, marine industry, offshore wind power, energy harvesting & production and underwater mining among others.
Browse through 8 Market Tables and 20 Figures spread through 110 Pages and in-depth TOC on “Global Subsea Valves Market: Research Report, Segment Forecasts up to 2021”.
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Growing demand for energy is a prime factor that drives the market for subsea valves. Oil, coal, and gas are main sources of global primary energy consumption. Thus, the exploration and production process requires the subsea valve in oil and gas industry. Moreover, growing subsea and oil & gas projects is likely to fuel the demand for subsea valves in the near future. However, unstable crude oil may hamper the market growth. Nonetheless, advancement in technologies is likely to provide new avenues for the players of the market over the forthcoming years.
On the basis of type, the global subsea valves market is segmented into subsea ball valves, subsea gate valves, subsea needle valves, subsea check valves, and others. Subsea ball valve was the largest segment of the market in 2016 and it accounted for more than 30% share of the total market in 2016. It is also expected to be the fastest growing segment during the coming years. This growth is attributed to its numerous applications in subsea projects. In addition, subsea ball valves are expected to be in high demand from various offshore and subsea projects. Moreover, subsea check valves and gate valves are also projected to witness robust demand during the forecast period and thus provide attractive market opportunities for subsea valve manufacturers (OEMs) and suppliers.
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In North America, demand for subsea valves drives from on-going offshore and subsea projects in Gulf of Mexico near the U.S. Moreover, the demand from the U.S. and Gulf of Mexico is expected to remain integral to the global subsea market over the coming years. It is still an attractive area of investment for international oil companies. Therefore, it is expected to witness exponential growth in the region for subsea valves market during the coming years.
The North Sea region is the main driver for offshore and subsea projects in Europe. The potential for offshore and subsea developments remain robust, however, much of this is accountable towards projects that have yet to be granted a final investment decision. Cancellations and delays to individual projects are expected to have a substantial impact on the market outlook in this region. However, most of these planned and upcoming projects have not been approved with a final investment decision.
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The subsea and offshore sector in Asia Pacific is expected to expand significantly during the forecast period, owing to rising demand for oil and gas in China, India and Southeast Asia as well as growing LNG demand from South Korea and Japan. CAPEX for offshore and subsea projects in this region is expected to grow at the fastest rate during the forecast period. This is expected to drive the demand for subsea valves in the region during the forecast period.
Latin America represents a huge opportunity for subsea valves players owing to a large number of offshore and subsea projects in this region. The vast amount of investments allocated for offshore and subsea projects in this region will further boost the subsea valves market in this region during the forecast period. Moreover, Middle East & Africa is expected to be the next vital offshore and subsea hub, with offshore and subsea installation activities in Tanzania, Mozambique, and Egypt among others expected to commence in the coming years. This is expected to drive the demand for subsea valves in the region within the forecast period.
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The major players of global subsea valves include Perar S.p.A., Flowserve Corporation, BuTech, Oliver Valves Ltd., Cameron, L.B. Bentley Ltd, Cortec LLC, DAFRAM S.p.A., PetrolValves and amongst others.
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This report segments the subsea valves market as follows:
Subsea Valves Market: Type Analysis
- Subsea Gate Valve
- Subsea Needle Valve
- Subsea Ball Valve
- Subsea Check Valve
- Others
Subsea Valves Market: Region Analysis
- North America
- U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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