According to the latest market research study released by Technavio, the global valves market for the power industry is expected to grow at a CAGR of close to 4% during the forecast period 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the global valves market for the power industry based on product type:
Global valves market for the power industry share by product type 2015
|
Globe Valve |
26.99% |
|
Gate Valve |
25.13% |
|
Butterfly Valve |
15.29% |
|
Ball Valve |
13.83% |
|
Industrial Plug Valve |
4.26% |
|
Others |
14.50% |
Source: Technavio
The top three revenue contributing product segments are discussed below:
Globe valves segment
The globe valves segment in the global valves market for the power industry was valued at around $2 billion in 2015 and is expected to grow at a CAGR of almost 4% by 2020. These are also called linear motion valves with a round-shaped body and it uses a linear motion disc and control the fluid motion. It used efficiently in systems that require frequent stroking and vacuum and offer high-precision throttling ability for high-pressure systems. These have applications for systems that has a wide range of temperature extremes and is best suited for industrial systems, especially the power industry. These are also known as throttling valves.
“These valves have Y-pattern design and are used in isolation service in the power industry. Such innovative design helps in reducing the flow resistance in globe valves and provide excellent leak tightness when compared with other valves. It offers advantages such as good closing and throttling feature that reduces the opening and closing time. It provides easier body ring seating surface and have high applications in gas and nuclear power production facilities,” says Anju Ajaykumar, a lead analyst at Technavio for research on engineering tools.
Gate valves segment
The gate valves segment of the global valves market for the power industry was valued at around $2 billion in 2015 and is expected to grow at a CAGR of over 4% by 2020. There is a gate or an opening at the top of a valve to arrest the flow of liquids and are available in large sizes to control thick liquid flow. It is mostly used for applications that involve slurries like molasses, cream, varnish, heavy oils, honey, light grease, and other non-flammable viscous liquids. The main shapes are parallel and wedge and used in various industries like oil and gas, pharmaceuticals, power, and marine. As these valves have a very low-pressure drop through an on open valve, it is widely used in high-pressure steam service application.
Butterfly valves segment
The butterfly valves segment of the global valves market for the power industry was valued at around $1 billion in 2015 and is expected to grow at a CAGR of about 4% by 2020. These are mostly in applications like high-pressure and high-temperature water and steam services, vacuum services, cooling water, and air and fire protection systems. It includes a disc as a closing mechanism to control and regulate the fluid flow and offer various advantages like open port, quarter turn, openness for less plugging, compact and lightweight, high coefficient of flow, and availability in large sizes. The different types of valves are concentric, double centric, and triple-centric and are used in the power industry for its ability to be used in different media types such as water applications, slurries, and corrosive materials.
The top leading vendors operating in the global valves market for the power industry are:
- Curtiss-Wright
- Cameron
- Emerson Electric
- Flowserve
- Weir Group
Other prominent vendors in the market include Alfa Laval, IMI Critical Engineering, KSB, Neway Valve (Suzhou), Valvitalia, Velan, Watts Water Technologies, L&T Valves, and GE.
A more detailed analysis is available in the Technavio report titled, ‘Global Valves Market for the Power Industry 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Valves and Manifolds Market 2016-2020
- Global Pressure Relief Valves Market 2016-2020
- Global Valve Regulated Lead Acid Batteries Market 2016-2020
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