25-Sep-2018 | Zion Market Research
The primary participants of global subsea valves market comprise Flowserve Corporation, Perar S.p.A., Oliver Valves Ltd., BuTech, L.B. Bentley Ltd, Cameron, DAFRAM S.p.A., Cortec LLC, and PetrolValves amongst others. These players are set to foster the development of subsea valves market in the years to come.
As per analysts at Zion Market Research, global subsea valves market was capitalized at USD 302.50 Million in 2016 and is likely to cross USD 334.50 Million in 2022, developing at a CAGR of 3.7% from 2017 to 2022.
This review is based on a report by Zion Market Research, titled “Subsea Valves Market (Subsea Gate Valves, Subsea Needle Valves, Subsea Ball Valves, Subsea Check Valves and Others): Global Market Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022”- Report at http://www.zionmarketresearch.com/report/subsea-valves-market
Increasing Requirement For Energy To Boost The Development Of Subsea Valves Market In The Years To Come
As per analysts at Zion Market Research, increasing requirement for energy is a major factor that boosts the development of subsea valves market. Coal, oil, and gas are main sources of worldwide primary energy usage. Hence, the production and exploration process needs the subsea valve in gas & oil sector, boosting the subsea valves market. In addition to this, increasing oil & gas and subsea projects is expected to power the development for subsea valves market in the years to come. On the other hand, unstable crude oil might hinder the growth of subsea valves market.
Nevertheless, technological advancement is expected to offer new opportunities for the market players in the subsea valves market over the years to come. In addition to this, increasing M&A by market players are set to bolster the development of subsea valves market in the years to come. For example, in May 2018, Neway Valve inked supply deal with Offshore Oil Engineering for a gas field cluster initiative. The project comprises subsea gate valve and subsea ball valve, thereby boosting the subsea valves market.
Numerous Forthcoming Subsea And Offshore Projects To Power The Global Subsea Valves Market In Middle East & Africa
Latin America spearheaded the global subsea valves market in 2016 with over 30% share. Moreover, it is expected to undergo the lucrative development in the subsea valves market during the years to come due to increasing investments for subsea and offshore initiatives. The Middle East & Africa is likely to be the quickest developing region within the forecast period for the subsea valve market due to numerous forthcoming subsea and offshore projects. Most of these subsea and offshore projects are likely to appear near West Africa. Nations such as Nigeria, Angola, Ethiopia, and Ghana among others are likely to boost the subsea and offshore projects in this region and boost the subsea valves market during the forecast period.
Based on the type, the global subsea valves market is divided into subsea gate valves, subsea ball valves, subsea check valves, subsea needle valves, and others. Subsea ball valve was the biggest section of the subsea valve market in 2016 and in the same year it added up for over 30% share of the entire market.
The global subsea valves market is segmented as follows:
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