Overview of the global industrial valve cover gasket market

Technavio’s market study identifies the increased use of diesel generators in the end-user industries to be one of the primary growth factors for the industrial valve cover gasket market. Factors such as frequent power outages in the industries increased power requirement in residential areas, and diesel generators reduce downtime in the industries influence the use of diesel generators in the end-user industries. Diesel is utilized as power backup option as power outages in industries results in loss of revenue and loss of productivity. Industrial valve cover gaskets are used for ensuring fuel efficiency and energy savings in diesel generators. The market analysts estimate that the market will post a revenue of around USD 10 million by 2021.

The rising need for electricity among the population is influencing the growth of the power industry in the Americas, EMEA, and APAC. Various M&A across various industries such as automotive, oil and gas industry, chemical and petrochemical industry and electronics industry, will increase the number of manufacturing and production units. Growing industries will demand adoption of diesel engines for power backup. The increasing M&A is identified to be one of the key trends contributing towards the growth of the industrial valve cover gasket market.

Competitive landscape and key vendors

The industrial valve cover gasket market is slightly concentrated due to the presence of limited vendors operating in the market. The valve cover gasket market is dominated by the end-users as they have the stronger bargaining power that facilitates switching between vendors at minimum cost. Vendors in this market operate in related markets as well.

The leading vendors in the market are

• Caterpillar
• Cummins
• Dana Incorporated
• Mitsubishi Heavy Industries

The other prominent vendors in the market are Nipparts, Daimler Trucks North America, DEUTZ, ISUZU Motors, and John Deere.

Segmentation by end user and analysis of the industrial valve cover gasket market

• Process industries
• Discrete industries

The primary end-users under the process industries are power industry, oil and gas, and chemical and petrochemical industry, as these industries have an increasing demand for backup power supply. Furthermore, the rising need to reduce the downtime and improve the safety of operations and workers will influence the demand for the valve cover gasket market.

Geographical segmentation and analysis of the industrial valve cover gasket market

• Americas
• APAC
• EMEA

The exponentially growing process and discrete industries located in APAC demand for uninterrupted power supply, and the increasing environmental hazards in the region that result in power outages contribute to the growth of the valve cover gasket market. Additionally, the rising demand for electricity due to the growing population will further the growth of this region.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global industrial valve cover gasket market?
• What are the key market trends impacting the growth of the global industrial valve cover gasket market?
• What are the challenges to market growth?
• Who are the key vendors in the global industrial valve cover gasket market?
• What are the market opportunities and threats faced by the vendors in the global industrial valve cover gasket market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global industrial valve cover gasket market?

Technavio also offers customization on reports based on specific client requirement.