The compound annual growth rate of the global industrial val
The main growth was due to rising demand in the power and chemical industries. Slow industrial growth in developed economies will drag down the development of this global market.
The oil and gas industry dominated growth in 2017, and the industry will continue to grow during the reporting period, given the increase in activity in the oil and gas industry worldwide.
The demand for automotive valves is rising, and it is expected to bring new opportunities to the valve market in the future.
The Asia Pacific region will be the fastest growing market in the world, especially as China and India will become major consumer economies.
Demand in the power industry has risen. In the power industry, valves are used in a variety of applications such as boiler start-up, feed pump recirculation, steam regulation and turbine bypass.
The valves in the condensate system are used to control and regulate the additional flow required for the fluid recirculation condensate pump. In addition, the valve is also used to control the water level of the feedwater heater deaerator.
In drinking water systems in the power industry, valves are used for boiler feed water pump recirculation. At this point, the valve plays a key role in opening and closing and flow regulation.
In addition, in mainstream systems, valves are used for superheaters, turbine bypasses, superheater bypasses, and the like. The regulating valve is used to control the pressure.
In December 2017, 61 nuclear power plants and 99 nuclear reactors were put into operation in the United States. The government also plans to build more new reactors to increase nuclear power generation. It is estimated that in 2021, four new nuclear power plants will be put into operation in the United States.
In addition, the US government is also working to increase the capacity of power plants across the United States, which has also driven demand for cooling water treatment chemicals. All of the above factors will stimulate the demand for valves in the power industry.
The Asia Pacific region dominates the market.
In 2017, the Asia Pacific region occupied the major market share in the world. As the economies of China, India and Japan increase their investment in the oil and gas industry and the demand for water treatment continues to increase, the use of industrial valves in the region is also increasing.
The US oil and gas industry consumes a large amount of industrial valves, while production in the downstream industry is also increasing, which will further increase the production capacity of petrochemical products, thereby stimulating the consumption of industrial valves in the country.
The chemical plant is another important industry in China. Many large companies in this industry have their own chemical plants in China. These companies have increased production capacity, which has increased the consumption of industrial valves. Water treatment facilities for different industries are another important industry in China.
The increase in passenger car sales, the replacement of LPG as a cooking fuel, the increase in urbanization and the rising demand for infrastructure and consumer goods have fueled demand for fuel and contributed to the increase in refining capacity.
These factors, together with government support, have led to an increasing demand for industrial valves in the Asia Pacific region during the reporting period.
Major enterprise
The global industrial valve market is highly fragmented, with the top 10 participants accounting for 15% of the total market.
Major companies include Schlumberger Limited (formerly Cameron International), Emerson Electric, Flowserve, IMI PLC and Crane, as well as Alfa Laval, Honeywell, Saint-Gobain, Weir Group, Xylem, Shield and so on.
The article is reproduced from ResearchAndMarkets.com
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