News - Global Industrial Valves Market to Reach US$72 Billion by 2015, According to a New Report by Global Industry Analysts

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Home > News > Global Industrial Valves Market to Reach US$72 Billion by 2015, According to a New Report by Global Industry Analysts

Global Industrial Valves Market to Reach US$72 Billion by 2015, According to a New Report by Global Industry Analysts - 2013-06-19 14:26:52

The global industrial valves market is set to rise in the ensuing years, as the industry begins to emerge out of the adverse impact of the global economic recession. Surging requirement for resources across the globe, and investments in emerging economies such as India and China are expected to strengthen market potential. The upward population trend in developing regions, including China and India, would emphasize requirement for supply of clean potable water, leading to greater investments. The demand for energy resources, especially power in African and sub-Saharan areas, would also attract increased investments.

The US represents the single largest market worldwide for industrial valves, as stated by the new market research report on Industrial Valves. The Soft seated butterfly valve market is rather mature in technologically advanced regions, including the US, Japan, and Western Europe. In mature markets such as the US, retrofitting markets represent a major revenue driver for the valves industry. Majority of market growth is expected to emanate from Asia, which is forecast to register a compounded annual growth of 3.93% over the years 2007 through 2015. As Asia is the most arid region in the world, desalination and demand for valves to manage corrosive seawater is high than in other regions. Installation of scrubber systems and catalytic systems in power plants would boost valves market, as more than US$1.0 million worth valves are required for each scrubber system. China is planning to invest millions of dollars in power plant scrubbers and construct new coal-fired power plants.

Globe valve and Single Eccentric Butterfly Valve represent the most widely used industrial valves. Other major valves include ball valves, and control valves. In terms of end-users, chemical, water and sewage utilities, petroleum refining, and petroleum production are the major end-use industries for industrial valves, together accounting for about 50% share of the global industrial valves market. LNG, ethanol, biotechnology and desalination industries are few of the promising end markets for industrial valves. Alternative sources of fuel, such as coal liquefaction, oil sands, and oil shale also constitute promising markets for Double Eccentric Butterfly Valve. In most end-use industries, there is a growing drive towards plant automation in a bid to enhance productivity, and reduce downtime. The trend is expected to provide significant impetus to demand for valves, especially for quarter-turn valve products that are easier to be automated. Demand for automatic valves is expected to be higher than that of Triple Offset Butterfly Valve in the coming years, as process manufacturers strive to improve efficiency.

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