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The infographic below contains key findings from our analysis of the valves market in the mining industry
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Market research analysts at Technavio predict that the global valves market in the mining industry will grow steadily at a CAGR of around 6% by 2021. The increasing demand for oil is one of the primary factors influencing the growth of this market. The oil and natural gas consumption has increased steadily in the last decade. The consumption of natural gas is comparatively higher due to the increase in the adoption of natural gas as a source of fuel. The high fuel consumption increase investments in petroleum production and this will consequently increase the demand for valves on petroleum mining.
The global valves market is highly fragmented with low product differentiation and the presence of several low-cost manufacturers who offer products at a competitive price. The global players offering high quality and high-priced products are facing competition from the regional vendors who offer similar products at a low cost. The key players in the market focus on expanding their market reach, product portfolios, and customer base and prefer horizontal integration by acquiring small or regional vendors. This will increase the number of mergers and acquisitions, which will be one of the key trends that will gain traction in this market during the next few years.
The market is competitive and fragmented due to the presence of several global and regional players. Owing to low product differentiation, the vendors have the need to innovate and customize products and offer specific solutions based on the customers’ requirements to gain a competitive edge over their competitors. The players in the market are increasingly opting for M&A as the preferred mode of operation over setting up new manufacturing facilities since acquiring smaller players saves time and capital and also helps in overcoming potential delays in production.
The leading vendors in the market are -
The other prominent vendors in the market are AVK Group, Cameron International, Camtech Valves, Emerson, FMC Technologies, GE, GWC Valves, Honeywell, and Velan.
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Various types of valves are used in the mineral fuel mining industry due to their capability to resist the leakage of gas and liquid under any circumstances as mining faces challenges such as high pressure, high temperature, leakage, and corrosion. The increasing demand for petrochemical products, the rising number of nuclear power plants, and the growth of the fertilizer industry, will also influence the growth of the market in this segment.
This market research and analysis estimates that APAC will be the major revenue contributor to this market during the next four years. This will attribute to the increase in demand from the developing countries and the increase in investments in the mining sector due to favorable political conditions such as ease of business, policies, tax structure offered by governments of respective countries, and the presence of rich resources.
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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 application
PART 07: Market segmentation by type
PART 08: Geographical segmentation
PART 09: Decision framework
PART 10: Drivers and challenges
PART 11: Market trends
PART 12: Vendor landscape
PART 13: Key vendor analysis
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