Global Valves Market for Power Industry 2016-2020
Valves are devices that are used to control, direct, and regulate the flow and pressure of gases, liquids, and fluidized solids. Globe valves, gate valves, butterfly valves, ball valves, and safety relief valves among others are used in various process industries such as oil and gas, chemical, power, refining, and food and beverage. These valves can be operated electrically, pneumatically, and hydraulically.
Technavio’s analysts forecast the global valves market for the power industry to grow at a CAGR of 3.93% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global valves market for the power industry for 2016-2020. To calculate the market size, the report considers the demand for valves from the power industry.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Valves Market for the Power Industry 2016-2020
Technavio recognizes the following companies as the key players in the global valves market for the power industry: Curtiss-Wright, Cameron, Emerson Electric, Flowserve, and Weir.
Other Prominent Vendors in the market are: Alfa Laval, IMI Critical Engineering, KSB, Neway Valve, Valvitalia, Velan, Watts Water Technologies, L&T Valves, and GE.
Commenting on the report, an analyst from Technavio’s team said: “Taking advantage of the new trend of applying this affordable technology, pump and valve manufacturers have combined it with digital advances in modeling software. The twin fields of 3D and computer modeling technologies have opened a whole new frontier in pumps and valves design, repair, and replacement. The global 3D printing market was estimated at $4.12 billion in 2015 and is likely to reach $28.76 billion in 2020, growing at a CAGR of 47.50%.”
According to the report, natural gas-fired gas turbine power plants offer highly economical and environmentally viable solutions. This is especially true in the present scenario of low natural gas prices that are backed by the flourishing production of natural gas worldwide. The high economic and environment viability of natural gas is one of the most prominent drivers in the global valves market for the power industry.
Further, the report states that increased price war and threat from local vendors will be a challenge for the market. The presence of many vendors intensifies the price war in the global valves market for the power industry. As a result, revenue generated by the market relies on the pricing strategy of vendors. This is mainly because customers expect high-quality valves with additional features at lower prices. Therefore, many vendors are striving to lower the cost of their products to increase their foothold in the market. They are also reducing prices to gain loyalty of cost-sensitive companies and small and medium-sized enterprises.
Curtiss-Wright, Cameron, Emerson Electric, Flowserve, Weir, Alfa Laval, IMI Critical Engineering, KSB, Neway Valve, Valvitalia, Velan, Watts Water Technologies, L&T Valves, GE.
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