05-Sep-2019 | Zion Market Research
Zion Market Research has published a new report titled “Oil and Gas Valves Market By Valve Type (Butterfly, Ball, Globe, Gate, Check, and Pressure Reducing), By Body Material (Cast and Forged), By Valve Size (0.25 to 8 Inches, 8 to 20 Inches, and Above 20 Inches), and By Application (Upstream, Midstream, and Downstream): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global oil and gas valves market accounted for USD 10.2 billion in 2018 and is expected to reach around USD 15.6 billion by 2025, at a CAGR of 6.24% between 2019 and 2025.
An oil and gas valve is a controlled device that regulates the flow of liquid by the variable. The dimension of the flow passageway of gas or fluid in a system is guided by a signal from a specific controller. These oil and gas valves are utilized to maintain operational different situations, such as liquid level, pressure, flow, and temperature.
Browse the full “Oil and Gas Valves Market By Valve Type (Butterfly, Ball, Globe, Gate, Check, and Pressure Reducing), By Body Material (Cast and Forged), By Valve Size (0.25 to 8 Inches, 8 to 20 Inches, and Above 20 Inches), and By Application (Upstream, Midstream, and Downstream): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/oil-and-gas-valves-market
The oil and gas valves market is likely to experience significant growth in the years ahead, owing to the expansion of the power generation sector, robust industrialization, and substantial developments witnessed by technologies using mechanical engineering-based procedures. The rising energy demand and an increasing number of oil and gas projects in the pipeline will drive the oil and gas valves market in the years to come. However, the lack of skilled labors for operating these oil and gas valves may hamper the oil and gas valves market development on the global level. Alternatively, the escalating valves demand for IoT and Industry 4.0 architecture by various industries situated in the emerging countries is likely to generate new growth opportunities for the major players of the market in the future. Additionally, the rising focus on upgrading the production efficiency in industrial automation will further fuel the market for oil and gas valves. The manufacturing players are also focusing on developing innovative products, which is expected to open new growth avenues for the market in the upcoming years.
The oil and gas valves market is fragmented on the basis of valve type, body material, valve size, and application. On the basis of valve type, the oil and gas valves market includes butterfly, ball, globe, gate, check, and pressure reducing valves. Gate valves are expected to show the highest CAGR in the upcoming years. By body material, the global market for oil and gas valves is bifurcated into the cast and forged. The cast segment will be the fastest-growing in the oil and gas valves market in the future. The valve size segment of the market for oil and gas valves comprises above 20 inches, 8 to 20 inches, and 0.25 to 8 inches. Based on application, the oil and gas valves market include upstream, midstream, and downstream. The downstream segment was the most attractive in the market in 2018.
In 2018, the North American region was the largest oil and gas valves market globally. This growth was mainly due to the rising adoption of automated valve operations across various end-user industries across the region. The Asia Pacific oil and gas valves market is anticipated to be the fastest-growing region in the future, owing to the increasing demand for oil and gas valves, especially for downstream applications.
Some major players of the oil and gas valves market are Schlumberger, CIRCOR International, Parker Hannifin, Metso Corporation, Emerson Electric, Watts Water Technologies, BHGE, National Oilwell Varco, The Weir Group, HYDAC, IMI, and Armstrong.
This report segments the global oil and gas valves market into:
Global Oil and Gas Valves Market: Valve Type Analysis
Global Oil and Gas Valves Market: Body Material Analysis
Global Oil and Gas Valves Market: Valve Size Analysis
Global Oil and Gas Valves Market: Application Analysis
Global Oil and Gas Valves Market: Regional Analysis
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