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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.
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
The other prominent vendors in the market are Nipparts, Daimler Trucks North America, DEUTZ, ISUZU Motors, and John Deere.
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.
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.
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PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: RESEARCH METHODOLOGY
PART 04: INTRODUCTION
PART 05: MARKET LANDSCAPE
PART 06: MARKET SEGMENTATION BY END-USER
PART 07: REGIONAL LANDSCAPE
PART 08: DECISION FRAMEWORK
PART 09: DRIVERS AND CHALLENGES
PART 10: MARKET TRENDS
PART 11: VENDOR LANDSCAPE
PART 12: KEY VENDOR ANALYSIS
PART 13: APPENDIX
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