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Industrial Valves Market in Oil and Gas Industry by Product and Geography - Forecast and Analysis 2020-2024

  • Published: Jul 2021
  • Pages: 120
  • SKU: IRTNTR45497
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The market share is expected to increase by USD 4.20 billion from 2019 to 2024, and the market's growth momentum will accelerate at a CAGR of 4.84%. This market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. The market report also offers information on several market vendors, including AVK Holding AS, Badger Meter Inc., Emerson Electric Co., Flowserve Corp., ITT Inc., Parker Hannifin Corp., Schlumberger Ltd., SMC Corp., The Dixon Group Inc., and The Weir Group Plc among others. Furthermore, this report extensively covers market segmentations by-products (ball valves, plug valves, gate valves, globe valves, and others) and geography (MEA, North America, Europe, APAC, and South America).

What will the Market Size be During the Forecast Period?

Industrial Valves Market Size

Download the Free Report Sample to Unlock the Market Size for the Forecast Period and Other Important Statistics

 

Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The rise in demand for more efficient valves is notably driving the market growth, although factors such as issue of counterfeit and fraudulent valves may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the market industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Industrial Valves Market in Oil and Gas Industry Market Driver

The rise in demand for more efficient valves is a key driving factor impacting the global industrial valves market in oil and gas industry market growth. For a project to be commercially viable, it must undergo a greater level of analysis and testing, as even a small mistake can cause huge damage to the workforce and environment, besides incurring huge financial losses. Such conditions demand more efficient valves, which can withstand a hostile operating environment to provide the required level of environment and workforce safety. The growth of unconventional hydrocarbon resources, such as shale oil and gas as well as oil tar sands, has also provided new opportunities for the industrial valves in the oil and gas industry. These valves are used for enhanced oil recovery and also for artificial lifts in such unconventional oil and gas fields. The high investments in shale fields will also contribute to the demand for more efficient valves in the oil and gas industry. Such factors will increase the market growth during the forecast period.

Key Industrial Valves Market in Oil and Gas Industry Market Trend

Advances in valve technology are a key trending factor impacting the global industrial valve market in oil and gas industry market growth. Though the basic design of valves has remained the same, valve components have been upgraded to withstand hostile working applications of industries with the help of technological modifications. The actuator is one such component of a valve as it controls mass and energy flow by regulating the valve. With the increasing adoption of automation in industries, manufacturers are now increasingly focusing on data analytics to identify the impact of different process variables, which affect the production process. This has turned the attention not only to historical data trends but also to real-time data available from different processes. Manufacturers of actuators are integrating sensors and electronic components with actuators to improve their data capturing and monitoring capabilities. The above factors will increase the market growth during the forecast period.

Key Industrial Valves Market in Oil and Gas Industry Market Challenge

The issue of counterfeit and fraudulent valves will be a key challenge negatively impacting the global industrial valves market in oil and gas industry market growth. The high prevalence of counterfeit and fraudulent products, particularly fluid handling products, has become a grave issue in the industry. Counterfeit products are those products in which an illegal replica of a genuine product is made and sold as a genuine product. The counterfeit product may also involve the use of a manufacturer's logo or brand name for a product without the manufacturer s consent or permission. Counterfeit valves are often of poor quality, which implies that these products can break down under high stress, consequently compromising the safety and quality of the facility where they are deployed. Such factors will hinder the market growth during the forecast period.

This market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.

Parent Market Analysis

Technavio categorizes the global industrial valve market in the oil and gas industry as a part of the global oilfield equipment and services within the global oil and gas market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period.

Who are the Major Market Vendors?

The report analyzes the global oilfield equipment and services within the global oil and gas market's competitive landscape and offers information on several market vendors, including:

 

  • AVK Holding AS
  • Badger Meter Inc.
  • Emerson Electric Co.
  • Flowserve Corp.
  • ITT Inc.
  • Parker Hannifin Corp.
  • Schlumberger Ltd.
  • SMC Corp.
  • The Dixon Group Inc.
  • The Weir Group Plc

 

This statistical study of the market encompasses successful business strategies deployed by the key vendors. The market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • AVK Holding AS - The company offers AVK Industrial Valves that can closely monitor developments, respond to them, and most importantly offer worldwide services.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global oilfield equipment and services within the global oil and gas market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
  • Support activities
  • Innovation

The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for the Market?

Industrial Valves Market Market segmentation by region

For more insights on the market share of various regions Request for a FREE sample now!

37% of the market's growth will originate from MEA during the forecast period. Saudi Arabia, the Russian Federation, and Iran (Islamic Republic of Iran) are the key markets for the market in MEA. Market growth in this region will be slower than the growth of the market in regions.

The rise in demand for more efficient valves will facilitate the Revenue-generating product segments in the market growth in MEA over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Product Segments in the Market?

Industrial Valves Market Segmentation

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The market share growth in the ball valves segment will be significant during the forecast period. Ball valves are a type of quarter-turn valves that consists of a spherical closure that enables shutting off and switching on the flow control. The ball valves are made of metal components, while the seats are made of soft materials.

This report provides an accurate prediction of the contribution of all the segments to the growth of the market size and actionable market insights on post-COVID-19 impact on each segment.

Market Scope

Report Coverage

Details

Page number

120

Base year

2019

Forecast period

2020-2024

Growth momentum & CAGR

Accelerate at a CAGR of 4.84%

Market growth 2020-2024

$ 4.20 billion

Market structure

Fragmented

YoY growth (%)

-5.25

Regional analysis

MEA, North America, Europe, APAC, and South America

Performing market contribution

MEA at 37%

Key consumer countries

US, Saudi Arabia, Russian Federation, China, and Iran (Islamic Republic of Iran)

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

AVK Holding AS, Badger Meter Inc., Emerson Electric Co., Flowserve Corp., ITT Inc., Parker Hannifin Corp., Schlumberger Ltd., SMC Corp., The Dixon Group Inc., and The Weir Group Plc

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Market Report?

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive market growth during the next five years
  • Precise estimation of the market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the industry across MEA, North America, Europe, APAC, and South America
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch

Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2019
    • Market outlook: Forecast for 2019 - 2024

    Five Forces Analysis

    • Five forces summary
    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Product

    • Market segments
    • Comparison by Product
    • Ball valves - Market size and forecast 2019-2024
    • Plug valves - Market size and forecast 2019-2024
    • Gate valves - Market size and forecast 2019-2024
    • Globe valves - Market size and forecast 2019-2024
    • Butterfly valves - Market size and forecast 2019-2024
    • Other valves - Market size and forecast 2019-2024
    • Market opportunity by Product

    Customer landscape

    • Overview

    Geographic Landscape

    • Geographic segmentation
    • Geographic comparison
    • MEA - Market size and forecast 2019-2024
    • North America - Market size and forecast 2019-2024
    • Europe - Market size and forecast 2019-2024
    • APAC - Market size and forecast 2019-2024
    • South America - Market size and forecast 2019-2024
    • Key leading countries
    • Market opportunity by geography
    • Market drivers
    • Market challenges
    • Market trends

    Vendor Landscape

    • Vendor landscape
    • Landscape disruption
    • Competitive scenario

    Vendor Analysis

    • Vendors covered
    • Market positioning of vendors
    • AVK Holding AS
    • Badger Meter Inc.
    • Emerson Electric Co.
    • Flowserve Corp.
    • ITT Inc.
    • Parker Hannifin Corp.
    • Schlumberger Ltd.
    • SMC Corp.
    • The Dixon Group Inc.
    • The Weir Group Plc

    Appendix

    • Scope of the report
    • Currency conversion rates for US$
    • Research methodology
    • List of abbreviations

    Research Framework

    Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

    TechnavioINFORMATION SOURCES

    Primary sources

    • Manufacturers and suppliers
    • Channel partners
    • Industry experts
    • Strategic decision makers

    Secondary sources

    • Industry journals and periodicals
    • Government data
    • Financial reports of key industry players
    • Historical data
    • Press releases
    Technavio

    TechnavioDATA ANALYSIS

    Data Synthesis

    • Collation of data
    • Estimation of key figures
    • Analysis of derived insights

    Data Validation

    • Triangulation with data models
    • Reference against proprietary databases
    • Corroboration with industry experts
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    TechnavioREPORT WRITING

    Qualitative

    • Market drivers
    • Market challenges
    • Market trends
    • Five forces analysis

    Quantitative

    • Market size and forecast
    • Market segmentation
    • Geographical insights
    • Competitive landscape
    Interested in this report?
    Get your sample now!
    Industrial Valves Market in Oil and Gas Market market growth will increase by $4.20 bn during 2020-2024.
    The industrial valves market in oil and gas market market is expected to grow at a CAGR of 4.84% during 2020-2024.
    Technavio has segmented the industrial valves market in oil and gas market market by product (ball valves, plug valves, gate valves, globe valves, and others) ,geography (MEA, North America, Europe, APAC, and South America) , and geographic (MEA, North America, Europe, APAC, and South America).
    AVK Holding AS, Badger Meter Inc., Emerson Electric Co., Flowserve Corp., ITT Inc., Parker Hannifin Corp., Schlumberger Ltd., SMC Corp., The Dixon Group Inc., The Weir Group Plc are a few of the key vendors in the industrial valves market in oil and gas market market.
    MEA will register the highest growth rate of 37% among the other regions. Therefore, the industrial valves market in oil and gas market market in MEA is expected to garner significant business opportunities for the vendors during the forecast period.
    • US
    • Saudi Arabia
    • Russian Federation
    • China
    • Iran (Islamic Republic of Iran)
    The key factors driving the industrial valves market in oil and gas market market growth are:
    • Rise in demand for more efficient valves
    • Advances in valve technology
    The industrial valves market in oil and gas market market vendors should focus on grabbing business opportunities from the ball valves segment as it accounted for the largest market share in the base year.
    • What are the key global market and the regional market share?
    • What are the revenue-generating key market segments?
    • What are the key factors driving and challenging this market’s growth?
    • Who are the key market vendors and their growth strategies?
    • What are the latest trends influencing the growth of this market?
    • What are the variables influencing the market growth in the primary regions?
    • What are the factors influencing the growth of the parent market?
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    • Data on revenue-generating market segments
    • Details on the market shares of various regions
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