Valves & Fittings Market place Serving Oil & Gas Industry Demands
Posted by industryarc on August 9th, 2019
The growing demand for industrial flow control solutions for all fluids and gases in numerous sectors such as oil and gas, water and wastewater, chemical plants, naval, power generation, paints, iron and steel, and resins is expanding the growth of the valves and fittings market. IndustryARC's findings reveal that the global valves & fittings market size was at .28 billion in 2018, and its value will increment at a CAGR of 3.56% over the forecast period 2019-2025.
The report is titled: “Valves and Fittings Market: By Type ( Valves, Fittings and Actuators); By Material ( Stainless Steel, Cast Iron, Alloy Based and Others); By End Users ( Chemical, Oil & Gas, Pharmaceuticals, Semiconductors, Nuclear Energy, Pulp and Paper, Food and Beverages), & By Geography – Forecast (2019-2025).” It incorporates an in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, and strategic analysis to gauge the impact forces and potential opportunities of the global valves & fittings market.
Global Valves & Fittings Market: Demand Analysis
Valves enable command on starting and stopping the flow of fluid. A diverse range of valves is available which includes hydraulic valves, pneumatic valves, solenoid valves, and motor valves. Poppet valves are mostly used in the modern internal combustion engines of fossil fuel powered vehicles. Modern control valves are preferred to regulate the pressure associated with the sophisticated automation systems.
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Global Valves & Fittings Market: Leading Segments
Asia-Pacific region held the leading demand share of about 28.21% in 2018. And, it is foreseen to retain the dominant position in the near future too. According to the Federation of Indian Chambers of Commerce & Industry, India alone accounts for a share of 2.5% in the global valves market. There was an increase in import value of pipe fittings from .69 million in 2016 to .63 million as of 2017. China held the largest share in pipe fittings import value among other Asian countries with 4,889 in 2018. It was the leading exporter of industrial valves which excludes pressure-reducing valves, and thermostatically controlled valves with a value of .3 million in 2018.
The oil and gas and chemical industries make up the key segments of the valves and fittings market, with the collective value increasing at a CAGR of 3.16% during the forecast period. Flow control valve plays a key role in the complex petrochemical process to adjust the flow rate of the fluid. Emerging demand for the gas valves and fittings in the oil & gas industry is driving the growth of global valves & fittings market. Hydraulic fittings are the choice made by the efficient engineers for specific oil and gas hydraulic applications.
Global Valves & Fittings Market: Disruptive Trends
Extensive use of butterfly valves in the oil & gas industry and automation industry is booming the growth of global valves market.
Check valves are set to grow with a CAGR of 7% up to 2022, as it pulls down the damaging of equipment and avoids disruption in the process as well
Hydraulic fittings are highly adopted in the oil and gas industry as they resist to the severe environment and also prevent corrosion
Global Valves & Fittings Market: Competitive Landscape
Some of the chief companies recognized in the report which are currently holding majority shares in the global valves & fittings market are Parker Hannifin, HY-LOK Corporation, Fujikin Corporation, Circor International , Dwyer Instruments , Oliver Valves, Astectubelok, Bray International, Fitok, and Hex Valves.
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About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.
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Joined: August 6th, 2019
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