About Industrial Valves
The oil and gas industry is one of the major end-users of industrial valves. The industry contributes a significant share in terms of the overall market revenue. Owing to the criticality of processes carried out in the oil and gas sector and the need to transport fluids from one stage of the process to another, industrial valves find increased applications in this sector. The industrial valves ensure smooth operations by regulating and controlling the movement of fluids.
Technavio’s analysts forecast the global industrial valves market in oil and gas industry to grow at a CAGR of 5.69% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global industrial valves market in oil and gas industry for 2017-2021. To calculate the market size, the report includes revenue generated through the sales made by the products, by end users, and by geography. It also includes the revenue generated through the maintenance and after-sales services carried out by the market vendors.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Industrial Valves Market in Oil and Gas Industry 2017-2021
Technavio recognizes the following companies as the key players in the global industrial valves market in oil and gas industry: Cameron, Emerson, Flowserve, Pentair, and AVK.
Other Prominent Vendors in the market are: 4matic, A V Valves, Alfa Laval, Brooksbank, Cameroon, Camtech Valves, CIRCOR Energy, Crane, Crescent Valves, Curtiss-Wright, Fluuitek Orsenigo Valves, FMC, GE, Honeywell International, IMI, ITT, KITZ, KSB, CVC Valves, Microfinish Valves, MIR VALVE, MRC Global, Neway, Oliver Valves, OMB Valve, Pentair, Rotork, SAMSON Controls, Teji Valve, Valmax, Valvitalia, Velan, Weir, and Wuzhou Valve.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is rising number of mergers and acquisitions. The global valves market is a highly-fragmented market. As such several low-cost manufacturers offering competitive products exist due to which, the global manufacturers producing high-quality products are facing a significant threat. Since there is very low product differentiation, vendors find it extremely difficult to maintain their market share in the market. As a result, several big international vendors are choosing to go for horizontal integration in the market in order to expand their market presence, product portfolio, customer base, and network by acquiring small and local vendors.”
According to the report, one of the major drivers for this market is government regulations to curb environmental degradation. Several European and American governments have imposed regulations on the oil and gas industry to safeguard the interests of both environment and human life. The European Union has formulated strict guidelines to ensure that these industries incorporate operational safety and reduction in emission. Leakage and spilling of harmful and toxic substances are being curbed to prevent the detrimental effect on human life and the environment.
Further, the report states that one of the major factors hindering the growth of this market is uncertainties in oil and gas sector due to price fluctuation. The 2014 dip in oil prices has affected the global market considerably, especially in countries that are major exporters, such as Mexico, Venezuela, Colombia, Russia and the Middle East countries. Thus, these economies took a hit in terms of the revenue earned. The increase of shale gas exploration in the US, the Middle East did not reduce output due to the fear of losing market share resulting in the declining oil and gas prices, from $97 per barrel in 2014 to $48 per barrel in 2015.
Cameron, Emerson, Flowserve, Pentair, AVK, 4matic, A V Valves, Alfa Laval, Brooksbank, Cameroon, Camtech Valves, CIRCOR Energy, Crane, Crescent Valves, Curtiss-Wright, Fluuitek Orsenigo Valves, FMC, GE, Honeywell International, IMI, ITT, KITZ, KSB, CVC Valves, Microfinish Valves, MIR VALVE, MRC Global, Neway, Oliver Valves, OMB Valve, Pentair, Rotork, SAMSON Controls, Teji Valve, Valmax, Valvitalia, Velan, Weir, Wuzhou Valve.
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