Water and gas valves: Key market research findings
- APAC region dominates the market geographically
- Increasing focus on the development of next-generation valves during the forecast period
- Key vendors—Cameron, Emerson Electric, Flowserve, KSB, and Pentair
Technavio’s market research analysts estimate the global water and gas valves market to grow at a CAGR of almost 5% between 2016 and 2020. The rise in exploration activities is the fundamental driver for this market. The increase in industrialization and urbanization have stimulated an increase in the demand for energy and exploration activities across the globe. Furthermore, the need for several countries to become self-reliant in terms of energy production and consumption is encouraging many companies to boost exploration activities. At present, the APAC region dominates the global water and gas valves market by accounting for more than 36% of the market share. The significant demand in for oil, gas and potable water for domestic consumption and use fueled by the expanding population, rapid urbanization, and a growing middle class are factors fueling growth in the water and gas valves market in this region during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the water and gas valves segment by type.
“The development of next-generation valves is the latest trend in the water and gas valves market globally. Numerous vendors are aiming at developing next-generation valves with additional capabilities so as to stay in the competitive market. Some of the new, innovative products being developed by vendors include ceramic valves that have valve sealing components and parts made from ceramic material, which have an extended operational life,” says Anju Ajaykumar, Lead Analyst, Heavy Industry, Technavio Research.
Currently, the market is dominated by the quarter-turn valves segment which accounts for over 40% of the overall market share. An attempt by industries across the globe to improve their existing facilities, increase production efficiency and reduce labor costs are some of the factors that are responsible for the flourishing of this segment. Increased construction of new plants and upgradation of existing ones in end-user industries to improve operational efficiency is likely to augment the demand for quarter-turn valves in the coming years.
The key vendors in the global water and gas valves market include Cameron, Emerson Electric, Flowserve, KSB, and Pentair. Large and international vendors dominate the global water and gas valves market. However, in this market, many local and regional vendors provide industrial valves such as ball, gate, and globe valves and other products with great levels of customization at a fairly lower price than their international competitors. Though new vendors are emerging in the market, they find it difficult to compete with international vendors in terms of quality, features, functionalities, and service.
A more detailed analysis is available in the Technavio report, Global Water and Gas Valves Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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