Global Industry Analysts (GIA) has released a comprehensive global report on industrial valves. The global market for Industrial Valves is projected to surpass US$78.4 billion by 2020 driven by industrial expansion in developing economies, plant automation and emission control regulations.
A key-driving factor for growth in the market is the growing global energy needs and the ensuing increase in oil & gas exploration, energy generation and petroleum refining activities. Pharmaceutical, biotechnology and food processing sectors are also expected to spur demand for valves.
Growth in the market is largely reliant on investments in manufacturing facilities. Buoyed by technology innovation in valve systems , the market is expected to witness strong growth in the coming years. Several factors, including pollution control regulations, rising demand for water and power and rapid growth of process industries, work in tandem to drive growth in the industrial valves market. The construction of new nuclear power stations in the coming years is expected to spur demand for industrial valves used in nuclear power plants. The need to upgrade aging nuclear plants to ensure conformance with safety standards is expected to spur sales of nuclear valves.
The research report titled “Industrial Valves: A Global Strategic Business Report” announced by Global Industry Analysts , Inc., provides a comprehensive review of trends, issues, strategic industry activities and profiles of major companies worldwide. The report provides market estimates and projections in US$ for geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Middle East & Africa, and Latin America. Product markets analyzed include Multi-turn Valves (Globe & Gate Valves and Other Multi-turn Valves), Quarter-turn Valves (Ball Valves, Butterfly Valves and Industrial Plug Valves), Safety & Relief Valves, Automated Control & Regulator Valves and Other Industrial Valves.