Global Oil and Gas Valves Market Is Anticipated To Reach Around USD 9.13 Billion By 2032

06-Mar-2024 | 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, 2024–2032”. According to the report, the global oil and gas valves market accounted for USD 6.14 billion in 2023 and is expected to reach around USD 9.13 billion by 2032, at a CAGR of 4.52% between 2024 and 2032.

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, 2024 –2032” Report at https://www.zionmarketresearch.com/report/oil-and-gas-valves-market

Global 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 laborers to operate these oil and gas valves may hamper the oil and gas valves market development on the global level. Alternatively, the escalating valve demand for IoT and Industry 4.0 architecture by various industries situated in 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 includes 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 in 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

  • Butterfly Valves
  • Ball Valves
  • Globe Valves
  • Gate Valves
  • Check Valves
  • Pressure Reducing Valves (PRV)

Global Oil and Gas Valves Market: Body Material Analysis

  • Cast
  • Forged

Global Oil and Gas Valves Market: Valve Size Analysis

  • 0.25 to 8 Inches
  • 8 to 20 Inches
  • Above 20 Inches

Global Oil and Gas Valves Market: Application Analysis

  • Upstream
  • Midstream
  • Downstream

Global Oil and Gas Valves Market: Regional Analysis

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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