Valves are devices that are used to regulate, monitor, and control the flow of fluids in a facility. Valves operate by opening, closing, or partially blocking the passageways to allow the movement of fluids from high pressure to low pressure directions or vice versa. Valves are used in several processes of the mining industry for transporting fluids between two points within an enclosed system. The growth of the industrial valves market is driven by rising applications, the need for advanced flow regulation technologies, and the various automation requirements in end-user industries.
Technavio’s analysts forecast the global valves market in mining industry to grow at a CAGR of 5.77% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global valves market in mining industry for 2017-2021. To calculate the market size, the report considers the new installations, volume, value, retrofit, replacement, and aftermarket services.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Valves Market in Mining Industry 2017-2021
Technavio recognizes the following companies as the key players in the global valves market in mining industry: DeZURIK, Flowserve, ITT, Pentair, and RF Valve.
Other Prominent Vendors in the market are: AVK Group, Cameron International, Camtech Valves, Emerson, FMC Technologies, GE, GWC Valves, Honeywell, andVelan.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is deep sea mining. Diminishing mineral rich mines on land have increased consideration of ocean as a next milestone for mining minerals. Petroleum and natural gas have been extracted from years and now the future holds a speck of mineral mining.”
According to the report, one of the major drivers for this market is growth in smart mining industry. In the present scenario of stagnant growth in mining industry, mining industry players are making rapid investments in automating mining processes. These upcoming smart mining technologies are sensors, automated equipment, RFID tags, and various types of analytical tools that enhance the operations and working conditions. Automation has been included to reduce the dependence on manual operations and carry out operations without endangering the lives of workers and environment.
Further, the report states that one of the major factors hindering the growth of this market is Fluctuations in the raw material pricing. Valves comprise materials that have the capability to perform under extreme environment. Usually, raw materials are required for manufacturing mining specific valves that consists of stainless steel, brass cast iron, bronze, hardened steel, and aluminum. These materials are preferred because of their physical properties such as high melting point and ruggedness that make them ideal for multiple applications in the mining industry. However, as these materials are traded as a commodity, their prices are influenced by factors such as inflation, availability, and production. These commodities are highly susceptible to the demand and supply metrics.
DeZURIK, Flowserve, ITT, Pentair, and RF Valve. AVK Group, Cameron International, Camtech Valves, Emerson, FMC Technologies, GE, GWC Valves, Honeywell, andVelan.
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